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Don’t Let Your Luck Run Out! Buy A Home This Spring

by Melissa Dierks

Some Highlights:

  • Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018.
  • Take advantage of more inventory coming to market in the spring to find your dream home!
  • Buying now will allow you to start earning equity today!

Source: mykcm.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 Keller Williams Professionl Partners

Certified Military Residential Specialist

Direct: 623-229-0154

Email: melissa@theregalteam.com

7 Things To Avoid After Applying for a Mortgage!

by Melissa Dierks

Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.

Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!

1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.

2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

3. Don’t make any large purchases like a new car or new furniture for your new home. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher debt to income ratios… higher ratios make for riskier loans… and sometimes qualified borrowers no longer qualify.

4. Don’t co-sign other loans for anyone. When you co-sign, you are obligated. As we mentioned, with that obligation comes higher ratios as well. Even if you swear you will not be the one making the payments, your lender will have to count the payment against you.

5. Don’t change bank accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is consistency among your accounts. Before you even transfer money between accounts, talk to your loan officer.

6. Don’t apply for new credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

7. Don’t close any credit accounts. Many clients have erroneously believed that having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both those determinants of your score.

Bottom LineAny blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. They are there to guide you through the process.

 

Source: mykcm.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 Keller Williams Professionl Partners

Certified Military Residential Specialist

Direct: 623-229-0154

Email: melissa@theregalteam.com

5 Fab Home Upgrades for Under $100

by Melissa Dierks

5 Fab Home Upgrades for Under $100 

Has the wintertime got you feeling blue about the look of your home? Check out these 5 fab home upgrades for under $100 to spice up your space!

1.) Paint Your Door: Painting the front door gives the front of your house a fresh, new look in an afternoon. Materials, including painter’s tape, paint brushes, primer and paint, should run well under $100. Just make sure the color you pick is approved by your HOA if you have one in your community.

2.) Invest in a Pressure Washer: With a pressure washer, you can strip the dust, dirt and grime off your home and pathways from the wear and tear of winter weather. It’s a great way to make your home look new again, especially the windows. Not interested in buying a pressure washer? Consider renting one from your local hardware store.

3.) Update Your Light Fixtures: If the light fixtures that came with your home look like something from the early 90’s era, consider updated them for a fresh look that’s guaranteed to brighten your home. Keep an eye out for less costly pendant lights and lanterns to hang over a kitchen table or spruce up a hallway.

4.) Add a firepit: Whether you want to warm up around the fire and chat with friends or recreate the camp experience by making smores with your family, adding a firepit to your backyard is a great upgrade that will provide a great resource for entertaining. You can make a fire pit in your backyard with simple pavers or bricks or buy a tasteful one from Amazon to compliment your poolside patio. Depending on the style, a firepit can make a really nice focal point for your backyard.

5.) Dress Up Your Furniture: Buying a whole new sofa set will run you well over a $100. But you can always give your old couches new life by pulling a slipcover over it. These days, it’s easy to find an inexpensive and fashionable slipcover. You might even have enough change left over to buy some fun new accent pillows.

Want more home update ideas? Looking to sell or buy a home in the Phoenix area? Contact us today! The Regal Team has in-depth knowledge of the market and can provide you with the information you need on purchasing, selling, investing, financing and owning real estate in the Valley of the Sun!

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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The Hottest Paint Colors of 2019

by Melissa Dierks

Living Coral: Paint company Pantone announced “Living Coral” as its 2019 Color of the Year. The orange shade with golden undertones embodies “warmth and comfort,” Pantone says. “Living Coral easily delivers a graphic pop to a space,” says Rebecca Snowden, an interior style adviser at Furniture Choice. “Introducing it through small elements will brighten up a room, creating a sense of coziness that’s also fresh and chic.” For example, the energetic tone can liven up cushions, throws, and rugs in a living room. In a dining area, color blocked plates and coasters in the peachy hue may add some spark to a table arrangement, she says. Read Furniture Choice’s guide to weaving in more Living Coral into your home design.

Blueprint / Photo credit: Behr

Blueprint: Behr has gone blue with its top color choice for the new year. Blueprint is a mid-tone blue that is described as warmer than denim but softer than navy. Behr is embracing a full range of blue, teal, and grays as key color choices in 2019. “Layer light and dark blues on walls, cabinets, furniture, and decor for impactful results,” Behr says.

Cavern Clay / Photo Credit: Sherwin-Williams

Cavern Clay: Sherwin-Williams has picked a warm terra-cotta color called Cavern Clay as its 2019 Color of the Year. The color embodies an American Southwest, modern desert aesthetic. “This warm, earthy hue is both casual and refined,” Sherwin-Williams says. “It can be the backdrop of a playful, welcoming dining room or kitchen when paired with bright tiles, warm stone, and sculptural greenery.” It also compliments materials like leather and woodgrains.

Metropolitan Gray / Photo Credit: Benjamin Moore

Metropolitan Gray: Benjamin Moore expects the gray trend to continue in the new year, which is shown through its neutral pick with Metropolitan Gray. “It’s a color in the neutral spectrum that references a contemplative state of mind and design,” says Ellen O’Neill, Benjamin Moore’s director of strategic design intelligence. “Not arresting nor aggressive, this understated yet glamorous gray creates a soothing, impactful common ground.”

 

Source: http://styledstagedsold.blogs.realtor.org

 

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

3 Easy New Year’s Resolutions for your Home

by Melissa Dierks

3 Easy New Year’s Resolutions for your Home

It’s the time of year when everyone reflects on the past year and creates a list of New Year’s resolutions. The most popular resolutions are typically: to lose weight, to save money, to spend more time with family, but how often do we include New Year’s resolutions for our home? As your sanctuary, doing things to make your home more peaceful and stress free is a resolution that can help improve the quality of your life all year round. Here are 3 simple New Year’s resolutions for your home that you can actually stick to!

1.) Safety Check: The New Year is the perfect time to do a safety check around your house to make sure there aren’t any hazards that could harm you or your guests. That includes making long overdue repairs (pipes leaking water on the floor mean slipping hazards so don’t delay!), checking your house for radon, carbon monoxide, and replacing the batteries in your smoke detectors.

2.) Pare Down: With all the excess of gifts over the holidays, you may have found that more things came into your home than out. But in the spirit of cutting clutter, set up an “out with the old, in with the new” system. Every time something new comes in, something old goes out. That counts for everything, from books to clothes to gadgets. The more stuff that comes in, the more stuff that accumulates and needs to be organized. Go room-by-room eliminating anything old that you don’t use or absolutely love and donate it to a worthy charity. Less mess means less stress!

3.) Store More: We’ve all heard the term “a place for everything and everything in its place.” The same simple principle we tell our children in regard to putting their toys away should apply to us adults as well! Creating designated storage space for messy mayhem makers like mail, cords, and shoes can help keep the “unsightlies” out of sight and give you a place to stash stuff easily. There are literally hundreds of creative storage options from behind the door hangers to under the bed storage bins to vertical shelving corner niches. Thinking outside the box and repurposing one storage item to serve the needs of another is a life saver. Over the door shoe organizers can do more than hold shoes. They make handy holders for everything from jewelry and makeup and more in a bathroom.

Regardless of what your resolutions are for the New Year, don’t forget to include your home in your planning process. Have a wonderful Happy New Year!

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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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

Follow us on Facebook!

RE/MAX National Housing Report September 2018

by Melissa Dierks

RE/MAX National Housing Report September 2018

The RE/MAX National Housing Report for September 2018 showed the trends of fewer closings and stabilizing inventory continued through September, punctuated by a surprisingly big 11.6 percent year-over-year drop in home sales. At the same time, the RE/MAX National Housing Report for September 2018 posted a Median Sales Price of $241,000 that marked the 30th consecutive month of year-over-year price increases. It is the highest September price in the 10-year history of the report. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

The decline in home sales year-over-year was the largest since May of 2011, as September became the seventh month of 2018 to record lower sales than 2017. Even so, year-to-date 2018 home sales resemble 2017’s.

“The big drop in September closings catches your attention. The market is clearly rebalancing as buyers and sellers continue to process the increasing interest rate environment and what that means to them,” said RE/MAX CEO Adam Contos. “The slower drop in inventory – a visible trend for nearly half a year – further illustrates the ongoing shift toward market equilibrium, and that’s healthy in the long-term.”

Active inventory dropped for the 119th consecutive month, the decline of 4.7 percent from September 2017 was the smallest year-over-year decrease since August 2014. In addition, the September year-over-year inventory drop was the fifth consecutive month in 2018 to post single-digit percent declines rather than the double-digit monthly drops consistently seen over the previous three years.

“It’s a little surprising to see prices staying so strong, but it’s hardly shocking in such a tight market,” said Contos. “The headwinds of rising prices and interest rates amid already tight inventory levels have been crimping affordability and slowing sales for most of the year, but it varies by geography.  In circumstances like these, where the market is tricky to navigate, both buyers and sellers can benefit by aligning themselves with a professional agent – a local expert who can cut through the noise and advocate on their behalf.”

Home prices rose by 5.6 percent over September 2017, more than twice the year-over-year price increase of 2.3 percent from September 2016 to September 2017. That reversed a trend seen in the previous three months, when year-over-year price increases trailed 2017’s rate of growth.

Months Supply of Inventory totaled 3.7, which is the second-lowest for September in report history, second only to 3.6 months in September 2017. Days on Market of 46 was a September record for the report – three days less than September 2017. Of the 54 metro areas surveyed in September 2018, the overall average number of home sales is down 1.1percent compared to August 2018, and down 11.6 percent compared to September 2017.

Click here to download your copy of the RE/MAX National Housing Report for September 2018. Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Regal Team today! We offer unparalleled service to all clients in the Phoenix real estate market. Your complete satisfaction with our service and representation is our number one priority!

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

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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.

5 Hacks to Dodge Home Improvement Scams

by Melissa Dierks

5 Hacks to Dodge Home Improvement Scams

Each summer, professional home improvement scammers roam the U.S. in search of victims. Scams include everything from offering unbelievable deals that end up with hidden fees to using low-quality materials and not doing quality work. If you’re in the market for making big repairs to your home, here’s 5 ways to dodge home improvement scams according to Consumer Reports, Inc.

1.) Get recommendations. Avoid contractors that contact you unsolicited. Don’t hire a contractor based solely on an ad in a local newspaper, even if you’re offered a big discount or another incentive. Get recommendations from friends, neighbors, or relatives.

2.) See what others are saying. Before hiring a contractor, check his or her work history with your state consumer protection agency and the Better Business Bureau. Search the Web using the company or individual’s name and such words as “reviews” and “complaints.”

3.) Check credentials. Verify with your state that the contractor has the required license or registration. Some states have funds that reimburse consumers who obtain judgments against licensed contractors.

4.) Know your rights. Some states give consumers three days or so to cancel home-improvement contracts. Under federal law you have three days to cancel most contracts that are signed in your home or outside the contractor’s regular place of business.

5.) Get everything in writing. Don’t rely on spoken promises. Demand a written contract, and get all warranties in writing, too.

Even the most seasoned home buyer is at risk of home improvement fraud so please be on the alert and share with friends and family.  If you’d like more information about how to dodge home improvement scams or if you’re ready to sell or buy a home in Phoenix, please contact The Regal Team today. 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!

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?

Displaying blog entries 1-10 of 36

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Melissa Dierks
Keller Williams Professional Partners
7025 W Bell Road, Suite 10
Glendale AZ 85308
Direct: (623)229-0154
Office: (623)643-1092
Fax: (623)201-7562

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