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The Regal Team Home Inspection Series 4- Roof

by Melissa Dierks

The Regal Team Home Inspection Series 4- Roof

The Regal Team is excited to present part five of our five-part series on residential home inspection. Hear from a licensed home inspector on the various things they are looking for when it comes to inspecting your home.

With the various types of roofs in the Phoenix area, there are several things to look for during an inspection. A roof inspection is a way of determining the level of wear and tear on a roof, how much life it has left in it, and if there is a need for repair currently or soon in the future. Roof inspections involve looking for signs that indicate the wear on shingles and other roofing materials. A roof inspector does not need to remove any part of your roof.

In this episode, Kris Hauser with Insight Real Estate Inspection Service shares his expertise that will help you have a better understanding of our roofs here in the Valley of the Sun!

Kris can be contacted at (623)594-8131 or (623)297-1584 for additional questions you may have related to home inspection services. We hope this interview between Kris Houser with Insight Real Estate Inspection Service and Robert Dierks with The Regal Team will enlighten you a little more on what you need to know about inspecting your roof.

As always, please contact The Regal Team of RE/MAX Professionals for ALL your residential home purchase and selling needs!

Melissa Dierks

The Regal Team of RE/MAX Professionals

20241 N 67th Ave A1

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

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BACK ON THE MARKET AND HOLDING AN OPEN HOUSE

by Melissa Dierks

Join Robert as he hosts another "Open House" event on Sunday, November 4th, from 12:00 to 3:00.

This beautiful home located in Glendale, AZ is nothing short of an entertainers delight! Just in time for the holidays, you will have the opportunity to host your guests in this amazing 4 bedroom / 3 bathroom home. A back yard that will provide countless hours of entertainment for your friends and family!

Don't miss this amazing opportunity to call this "HOME"..

 

 

Melissa Dierks

The Regal Team of RE/MAX Professionals

20241 N 67th Ave A1

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

Follow us on Facebook!

5 Percent Mortgage Rates Are Back!

by Melissa Dierks

5 Percent Mortgage Rates Are Back!

The average rate on the 30-year fixed sat just below 4 percent a year ago, after dropping below 3.5 percent in 2016. It just crossed the 5 percent mark, according to Mortgage News Daily.

The benchmark 30-year mortgage rate spiked fifteen basis points to 5.04 percent from 4.89 percent in the previous week, according to Bankrate.com’s weekly survey of the nation’s largest mortgage lenders. Meanwhile, the average 15-year fixed mortgage rate surged 15 basis points to 4.41 percent and the average rate for a 5/1 adjustable-rate mortgage rose 7 basis points to 4.42 percent.

Mortgage borrowers are taking note of soaring rates. Total mortgage applications fell 1.7 percent from the previous week, according to data from the Mortgage Bankers Association’s weekly applications survey for the week ending Oct. 5. That’s down nearly 15 percent from a year ago.

Refinances, which are more sensitive to rate changes, dipped 3 percent from a week ago, the MBA reported. Overall, refinance activity sank to 39 percent of total applications from 39.4 percent the previous week and is down about 32 percent from a year ago.

Rising home prices and tight inventories for starter homes won’t abate in the year ahead, says Joel Kan, an MBA economist. And although year-over-year growth in purchase applications is expected, the movement will be gradual, Kan says.  “With the economy doing well and job market still strong, we’re starting to see the fruits of that and opportunities will be there,” Kan says of homebuying demand.

Higher mortgage rates mean now is a good time to buy a home as higher home prices are likely to become more affordable and homebuyers will have a better chance of finding a home in their price range and more likely to have an offer accepted. Its important to note that while higher rates may drive prices down, a higher interest rate does impact your buying power. What does buying power mean? Simple put, what you can afford to buy at an interest rate of 5 percent will be less than what you can afford to buy at an interest rate of 3 percent.

So, if you’re in the market to buy a home, now is the perfect time take advantage before rates go up more, and your buying power goes down. Contact the Regal Team today for more information about the new mortgage rates and get prequalified to buy a home in Phoenix.

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

Follow us on Facebook!

 

This communication is provided to you for informational purposes only and should not be relied upon by you. RE/MAX Professionals or The Regal Team are not a mortgage lender and so you should contact a qualified mortgage broker directly to learn more about its mortgage products and your eligibility for such products.

3 Key Things to Do Before You Get Your Keys

by Melissa Dierks

3 Key Things to Do Before You Get Your Keys

After months of saving, searching, waiting, and signing paperwork you’re finally ready to unload those moving boxes and start getting settled in. But even after you close on your home, the moving frenzy can feel like an ongoing series of to-do lists to no end. And though it’s tempting to take it easy and start arranging your furniture and hanging curtains the minute you get the keys to your new home, stop and remember the 3 key things to do before you get your keys.

1.) Change the locks: Before you even so much as drop one box into your lovely new domicile, be sure to change the locks or have them rekeyed. You never know who may have a copy of the original keys and it’s better to be safe than sorry. You can pick up locksets at your local home improvement store and they are relatively easy to install yourselves.

2.) Locate the circuit breaker: Doesn’t sound super important, but locating the circuit breaker in your new home is one of the first things you should do prior to move in. There’s nothing worse than having a power outage during a move that leaves you struggling to find the breaker. Even if electrical testing during your home inspection went well, it still doesn’t hurt to know where your electric box and switches are. It’s also a good idea to label your switches clearly in case of emergency if they aren’t labeled already.

3.) Change the alarm batteries: It’s likely your fire alarm and carbon monoxide detectors were tested during the home inspection process of your home buying experience. But making sure your alarms have fresh batteries will benefit you in the long run. In the shuffle of moving in and getting settled in, it’s an easy step to forget that could save lives later.

Remember these 3 key things to do before you get your keys and you’ll have just that much less on your to-do list as you settle in to your new home. Looking to buy an Phoenix home this summer? Contact The Regal Team today, and we’ll help you navigate through each step of the process to assist you with making the best real estate investment decisions and find the perfect home for you!

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

Follow us on Facebook!

Improve Your Credit Score With These 5 Hacks

by Melissa Dierks

Improve Your Credit Score With These 5 Hacks

Our credit report tells a financial story of us as payers of debt, and it has a long memory. A low credit score means that you will be charged a much higher interest rate when you apply for a home loan. Additionally, you may be required to contribute a much larger down payment of cash. Finally, if your score is very low, you might simply be denied altogether, although virtually every mortgage company now has special programs designed to help those with bad credit get loans for home purchases. 

Because your credit score affects everything from qualifying for a car loan to, in some cases, qualifying you for employment, it makes since that having the best score will help you obtain your real estate goals. Here are the top 5 hacks to improve your credit score.

  1. If you have any collections or judgments against you, pay them off as quickly as possible.
  2. Pull your credit report at least once a year to review any discrepancies.
  3. Pay all your bills on time by utilizing payment reminders or automatic bill pay options.
  4. Don’t close your credit card accounts because then you’ll be using a higher percentage of your overall credit limit.
  5. Try to reduce your credit card debt to twenty-five percent or less of your credit line on each card.

The sooner you begin implementing these top 5 hacks to improve your credit score, the easier it will be when it’s time qualify for a home loan. If you’re ready to buy a home in Phoenix or if you’re ready to sell your Phoenix home, please contact The Regal Team today to assist you with your real estate needs!

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

Follow us on Facebook!

3 Tips for Making Your Dream of Owning a Home a Reality [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking much about it.
  • Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back.
  • What are you willing to cut back on to make your dreams of homeownership a reality?

Home-Buying Millennials Face Fresh Set of Struggles

by Melissa Dierks

An astounding 98 percent of home-buying millennials surveyed for the report are being kept out of the market, with barriers including credit (cited by 26 percent of millennials), a down payment (31 percent) and prices (40 percent).

Given the hurdles, millennials are compromising on their wants: 84 percent, for example, would give up a feature in their home so that they could buy in their desired location, the report reveals. (The No. 1 do-without feature? A garage, followed by a kitchen that has been updated.) By comparison, just 25 percent of boomer buyers and 35 percent of Generation X buyers would do the same. Strikingly, 24 percent of millennials would accept a higher crime rate in exchange for their ideal property.

The majority of millennials (89 percent), similarly, would give up a feature of their neighborhood so that they could buy their desired home, like activities (e.g., block parties), good schools and proximity to restaurants and shops. Only 15 percent of boomers and 22 percent of Gen Xers would follow suit.

“For millennials, the dream of homeownership is alive and well, but with prices going up and inventory continuing to shrink, this new generation of buyers are facing more obstacles than any other demographic,” says Cheryl Young, senior economist at Trulia. “With tight budgets and fewer choices on the market, most millennials are forced to make trade-offs, and are more willing than other generations to give up home and neighborhood features in order to find their ideal home.”

Aside from the concessions, many millennials are having to put off their search, the report shows. More than three-quarters (79 percent) have delayed their plans to purchase—a higher rate than both boomers (48 percent) and Generation Xers (64 percent). Across generations, however, the obstacles overlap: a not-so-distant 32 percent of Gen Xers and 36 percent of millennials delayed due to the down payment, and an almost-identical 26 percent of Gen Xers and 27 percent of millennials held off due to prices.

Beyond costs, millennials are postponing a purchase for fear of “not having a stable job”—a byproduct of coming up in the recession. Debt, however, is less of a roadblock; just 9 percent of millennials say student loans are stopping them.

Despite the hurdles, 86 percent of millennials are planning to purchase, and, of those, 35 percent are aiming to do so in the next year, and 57 percent are hoping to in the next two years, according to the report.

“In markets where the economy and job growth are thriving, we may see some of these financial challenges start to dissipate as millennials mature into their careers,” Young says. “If anything, millennials can hold out hope that the encouraging housing starts we saw in 2017 can lead to some relief in the starter home segment.”

Source: rismedia.com

If you're looking to buy, sell, or invest in the Phoenix or surrounding area, CALL The Regal Team Today.

 

Melissa Dierks, Owner of The Regal Team of RE/MAX Professionals

Certified Military Residential Specialist

RE/MAX Hall of Fame

Direct: 623-229-0154

Email: melissa@theregalteam.com

Affordable Price Tags in Top ‘Green’ Markets

by Melissa Dierks

Eco-friendly homes are growing in demand, but buyers don’t always have to expect to pay a premium. Realtor.com® researched the 200 biggest metros in the U.S. to find the market availability of green homes with eco-friendly features, such as solar panels, smart thermostats, bamboo floors, and more. Researchers also sought to determine how much more or less these homes cost prospective buyers. 

“Although Southern and Western states still lead the way in green technology adoption, eco-friendly features have grown in popularity across many regions of the United States,” says Javier Vivas, realtor.com®’s director of economic research. “Many buyers have come to expect standard features, and homes integrating specialty green features are becoming more mainstream. However, in today’s inventory-starved market, location still reigns supreme and the price of land can easily override the allure of special eco-friendly features.”

Buyers don’t always have to pay more for eco-friendly features. In Salina, Calif., green listings are 14 percent below the median home price. Also, buyers in Prescott, Ariz., and Fresno, Calif., who want integrated solar panels in their new home will pay the same or less than the median home price in each market. 

However, homes with programmable thermostats do tend to cost more, adding up to 20 percent in Montgomery, Ala.; 17 percent in Tulsa, Okla.; 15 percent in the McAllen-Edinburg-Mission, Texas, metro area; and 12 percent in the Oklahoma City metro area. 

Energy Star–rated homes likely will cost more too. Most buyers will likely pay 21 to 26 percent more than the median home per square foot. 

Source: realtor.com®

Mortgage Rates Jump to 4-Year High

by Melissa Dierks

After mostly stagnant activity levels in recent weeks, mortgage rates are back on the move. The 30-year fixed-rate mortgage rose to its highest level since January 2014 this week, also seeing its largest weekly increase since February of this year, Freddie Mac reports. 

Average mortgage rates were higher across the board too, posting weekly increases to not only the 30-year fixed-rate mortgage but also to 15-year and 5-year hybrid adjustable-rate mortgages.

Freddie Mac reports the following national averages in mortgage rates for the week ending April 19: 

  • 30-year fixed-rate mortgages: averaged 4.47 percent, with an average 0.5 point, rising from last week’s 4.42 percent average. Last year at this time, 30-year rates averaged 3.97 percent. 
  • 15-year fixed-rate mortgages: averaged 3.94 percent, with an average 0.4 point, rising from last week’s 3.87 percent average. A year ago, 15-year rates averaged 3.23 percent. 
  • 5-year hybrid adjustable-rate mortgages: averaged 3.67 percent, with an average 0.3 point, increasing from last week’s 3.61 percent average. A year ago, 5-year ARMs averaged 3.10 percent. 

Source: Freddie Mac

If you're looking to buy, sell, or invest in the Phoenix or surrounding area, CALL The Regal Team Today.

 

Melissa Dierks, Owner of The Regal Team of RE/MAX Professionals

Certified Military Residential Specialist

RE/MAX Hall of Fame

Direct: 623-229-0154

Email: melissa@theregalteam.com

Buyers Want Emotional Bonds—Even Online

by Melissa Dierks

Despite beginning their search online—where one would assume home shoppers prefer an impassive browsing experience—many buyers are looking for some emotional connection in where they live and who they work with when buying a home. That’s why it’s crucial for real estate professionals to think about what their voice is online.

“As important as it is for a big brand to have a story to tell and core values, it’s also important for each agent to have their own brand story,” John Peyton, CEO of Realogy, said during a panel discussion on consumer trends at the REALTOR® Broker Summit in Nashville this month.

In learning how to distinguish yourself in your online presence, start by doing your own research. Fellow panelist Cammy Keiler Bjorklund suggests if you’re strapped for resources, get into the mind of clients and how they’ve started their journey. “The one place where they go besides Facebook is Google. Think about the words and phrases they’d use. Do a scan of what media properties Google thinks are best for those searches,” Bjorklund says. Should you be advertising there? Or can you do something better?

It’s also key to prioritize your marketing, says Julie Morris, vice president of brand research and strategy at Scripps Networks Interactive, who has focused on HGTV. “If you promote everything you promote nothing. Find your goal, because if there are too many messages it just gets lost,” she says.

While Morris does look at Nielsen, MRI, and other consumer data sources, she also works on HGTV’s own audience surveys to find out what viewers love. The biggest thing they’re hearing is the desire for an emotional connection. “If you can connect with the consumer you have a higher likelihood of pulling them in in some way,” she says. “The journey of a home, fixing up a home, that storytelling and unfolding of that is important now in a crowded marketplace.”

In recent study, HGTV found that its focus on renovation experts, agents, and flippers on air sometimes caused it to lose the homeowner along the way, which was eye-opening, Morris says. “It’s not just a renovation; it’s the home and how it fits the family,” she says.

Suzanne Zinn Mueller, senior vice president of industry relations at realtor.com®, who moderated the panel, says that becoming approachable online and creating an emotional bond can also be accomplished by hammering home the value of a real estate professional. Talk to your website visitors about what you bring the table, your expertise, and how you can help them reach their goals.

“Go beyond likes and followers to actual conversions,” says Peyton. Keep a close eye on the data coming out of your marketing campaigns and understand how you’re converting online leads into real life conversations.

—Erica Christoffer, REALTOR® Magazine

If you're looking to buy, sell, or invest in the Phoenix or surrounding area, CALL The Regal Team Today.

 

Melissa Dierks, Owner of The Regal Team of RE/MAX Professionals

Certified Military Residential Specialist

RE/MAX Hall of Fame

Direct: 623-229-0154

Email: melissa@theregalteam.com


Source:  Keeping Current Matters and additional source links above

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Melissa Dierks
The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101,
Glendale AZ 85308
Direct: (623)229-0154
Office: (623)643-1092
Fax: (623)201-7562

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