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Strong March Home Sales, Low Inventory Means Tougher Market for Buyers

Strong March home sales and low inventory means tougher market for buyers according to this month’s RE/MAX National Housing Report. March launched the home-buying season with post-recession records for increasing home sales and prices and decreasing inventory. Last month, home sales were 6.6 percent higher than the nine-year-old report’s previous March record, set in 2016. Thirty-eight of the fifty-three metro areas in the report showed year-over-year increases.

“We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.”

The Months Supply of Inventory dropped below three months for the first time in the history of the report, indicating a market that greatly favors sellers, as six months is considered a balanced market. Active inventory continued to decline, dropping 17 percent year-over-year. As a result, the Median Sales Price of $225,000—also a March record—was up eleven percent year-over-year. This was the twelfth consecutive month of year-over-year price increases.

Want to know more about the current real estate market? Click here to download your copy of the April 2017 RE/MAX National Housing Report. If you are looking to sell your Arizona home or are ready to buy a Phoenix home, please contact The Regal Team today.

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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40th Annual SAC Spring Public Star Party

by Melissa Dierks

40th Annual SAC Spring Public Star Party

Calling all star gazers and astronomy lovers. Mark your calendars for Saturday, April 29th for the 40th Annual SAC Spring Public Star Party at Thunderbird Park located at 22800 59th Ave, Glendale. Sponsored by Glendale Parks and Recreation Department and the Saguaro Astronomy Club, this favorite event will appeal to star lovers of all ages. Members of the club will have telescopes large and small set up and available for public viewing from 6:30 pm to 9:30 pm.

Members will show a variety of astronomical objects, including the Moon, Planets, Stars, Galaxies, and many Deep Sky Wonders. Club volunteers will also be on hand to answer questions you may have about telescopes, observing the sky, and astronomy in general. The Saguaro Astronomy Club is one of the larger amateur astronomy clubs in the Phoenix area. SAC was formed in 1977 to promote fellowship and the exchange of information among its members -- amateur astronomers. SAC members meet monthly for both general meetings and observing sessions, and regularly conducts and supports public programs on astronomy.

The 40th Annual SAC Spring Public Star Party is a free community event, weather permitting, so come out for a night under the stars! For more things to do in Glendale or if you’re looking to buy a home in Glendale, please contact the Regal Team today.

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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The Regal Team The Numbers Speak for Themselves!

by Melissa Dierks

The Regal Team: The Numbers Speak for Themselves!

The Valley of the Sun is projected to be the number one market in the U.S. and so far the spring selling season is really heating up! The numbers speak for themselves! Take a look at what The Regal Team has sold so far in 2017:

The Regal Team is committed to being the best and strongest negotiators on your behalf. If you are ready to make a move, give us a call today. Let our experience and skill work for you!!!

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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3 Reasons Not to Overprice Your For Sale Home

by Melissa Dierks

3 Reasons Not to Overprice Your For Sale Home 

Did you know the best chance for selling your property is within the first seven weeks? Studies show that the longer a property stays on the market, the less the seller will net upon the sale. That’s all the more reason to make sure you are properly pricing your Phoenix home to sell. Even over pricing your for sale home by a few thousand dollars could mean that your house will not sell. Here are 3 reasons not to overprice your for sale home.

1.) Less offers: Overpricing your for sale home can greatly minimize the number of offers you receive from potential home buyers because it’s not priced comparable to the current market.

2.) Less qualified buyers: If you price your home too high, you’ll limit possibly qualified buyers from purchasing your home because it’s priced out of their budget. Also potential buyers may choose not to view a home priced higher than the rest of the neighborhood.

3.) More time on the market: Your home stays listed longer with continual price reductions and additional advertising time when you price your home too high. As a result, you waste advertising dollars, because you’re losing money when you advertise a home that’s priced too high.

The bottom line is over pricing your Phoenix home means you could end up less likely to sell your home within that crucial seven week window. Is your Phoenix home priced to sell? It’s time to find out! Contact the Regal today for a personal market value analysis of your home.

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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3 Hacks to Pay off Your Mortgage Early

by Melissa Dierks

3 Hacks to Pay off Your Mortgage Early

Did you know? About thirty-four percent of homeowners in the U.S. no longer have a mortgage, according to U.S. Census data. If you’ve ever wanted to own your home with no mortgage payments, it’s completely possible plus you’ll have the stability and peace of mind of owning your home in an ever changing economy. Here are 3 hacks to pay off your mortgage early.

1.) Bi-Weekly Payments: This tactic is a no brainer. There are fifty-two weeks in the year and twelve months. If you pay half your regular mortgage payment every two weeks, you'll have made twenty-six half-payments, or thirteen full monthly payments by then end of the year. So you’re effectively making a full extra payment each year. Check if your bank will set up a biweekly mortgage payment plan and ask the bank to credit extra payments toward principal so you save more on interest expense.

 

2.) Round Up: You’d be surprised what a difference even paying just a little more will make on paying off your mortgage sooner. Even something as small as rounding your payments up can help. For example: Round a mortgage payment of $644 up to $650. A mere $6 more a month on a $200,000, 30-year loan can save you four payments at the end of the mortgage loan!

3.) Consider Refinancing: There are a few ways you can refinance your home loan to help you pay off your mortgage early. You can refinance your mortgage to a lower rate but keep making the higher payment which helps shave years off your mortgage. Or you can refinance your mortgage to a shorter term which cuts the amount of interest you pay sooner.

Paying off your mortgage may seem like a stretch, but it is actually a perfectly obtainable goal if you stay focused and try these 3 hacks to pay off your mortgage early. Just remember before you make extra payments you should read your contract to make sure you don't have any prepayment penalties. If you’d like more information about paying off your mortgage early or if you’d like to buy a Phoenix home, please contact the Regal Team today.  

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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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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