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Sales Increase Despite Record Prices and Sinking Inventory

by Melissa Dierks

Sales Increase Despite Record Prices and Sinking Inventory

July home sales rose 1.8 percent year-over-year, making it the second month of 2018 to post a sales increase year-over-year, according to the RE/MAX National Housing Report. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

In the July 2018 report, 37 of the report’s 54 metro areas posted sales increases over July 2017—April was the first month of 2018 where more homes were sold than the same month in 2017. The report also marks the 28th consecutive month of year-over-year price increases.

The Median Sales Price of $250,575 was up 4.4 percent from July 2017, and represents the third-highest price in report history—topped only by May and June of this year. Months Supply of Inventory was at 2.9 – the smallest total ever recorded for July.

Forty-two of the 54 metro areas reported a year-over-year drop in inventory. The Days on Market dropped to 41 – four days less than July 2017 and one day under the previous nine-year low set in June 2018.

“Because we’ve faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead,” said RE/MAX CEO Adam Contos. “It could level affordability to some extent and create more opportunity for buyers who’ve been priced out of hot markets.”

The average Days on Market for homes sold in July 2018 was 41, down one day from the average in June 2018, and down 4 days from the July 2017 average. The number of homes for sale in July 2018 was down 0.3 percent from June 2018, and down 7.8 percent from July 2017. Based on the rate of home sales in July, the Months Supply of Inventory increased to 2.9 from 2.7 in June 2018, and decreased from 3.1 in July 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In July 2018, all but one of 54 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market.

Want to know more? Click here to download your copy of the July 2018 RE/MAX National Housing Report. 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, Arizona 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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JUST REDUCED!!! Beautiful Upgraded Home in the Heart of Glendale for Sale

Beautiful upgraded home in the heart of Glendale with no HOA and appraised at $520,000! As you walk through the custom iron gate with the saltillo tile entryway, you'll find this 4 bedroom, 2.5 half bath home upgraded throughout. It has been freshly painted both inside and out. When you walk in through the front door, the gorgeous planter is there to great you with vivid colors and water feature! The kitchen is fully remodeled with new cabinets, granite countertops, and Samsung stainless steel appliances. The breakfast nook is nestled in a bay window with built-in custom bench seating and views of the backyard. The spacious master bedroom has a walk-in closet with built-ins and remodeled bathroom which has custom mirrors, upgraded vanity, granite counters, travertine floors and shower.

Don't miss the added game/bonus room which has cabinets for storage, wine bar and plenty of room to create the perfect entertainment area. This would also make a great office should you have a need for it! The backyard is an entertainers dream with a saltillo tile covered patio, pebble-tec diving pool with rock waterfall, above ground acrylic spa, second sitting area with fireplace, built-in BBQ, firepit, sink, burners, mini-refrigerator and lighting for the perfect evening.

The detached 30 x 40 (1,200 square foot) garage / workshop is equipped with a high ceiling, roll-up RV height door, cabinets, wired for 220 and 110, and is piped for water. Holds three cars easily! There is also RV covered parking in the back of it. Additional upgrades include plantation shutters, new carpet throughout, wine rack/bar, Game/bonus room, keyed security gates and so much more.

If you’d like to make this beautiful upgraded home in the heart of Glendale yours, please contact the Regal Team today and schedule a viewing appointment to see 6034 W Michelle Dr. Glendale, AZ 85308 or any of our current featured listings.

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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RE/MAX Professionals Celebrates August as the Month of Miracles

by Melissa Dierks

RE/MAX Professionals Celebrates August as the Month of Miracles 

Giving back is a priority in the RE/MAX culture. All over the world, RE/MAX agents make a difference in their communities - volunteering, donating money, contributing time and ultimately changing lives.

Children’s Miracle Network Hospitals (CMN Hospitals) raises funds and awareness for 170-member hospitals that provide 32 million treatments each year to kids across the U.S. and Canada. Donations stay local to fund critical treatments and healthcare services, pediatric medical equipment and charitable care.

We are excited to announce that our offices will be participating in our fourth annual “Month of Miracles” throughout the month of August. This is a month-long fundraising event is designed to raise much-need money to support our local Phoenix Children’s Hospital as well as raise awareness in our community.

“Children’s hospitals depend on local donations — like those from RE/MAX agents participating in Miracle Home and Miracle Property programs — to provide the top-of-class care kids deserve,” said John Lauck, president and CEO of Children’s Miracle Network Hospitals. “On behalf of the millions of families impacted by RE/MAX donations, we appreciate each agent’s efforts and thank them for truly making miracles happen in their communities all year long.”

Last year our Month of Miracles event raised over $15,000 and our office made a total contribution to Phoenix Children’s Hospital of $44,160.20! We were recognized by RE/MAX LLC for being the highest contributing office in the Southwest Region (Arizona, Nevada and New Mexico) to the Children’s Miracle Network, and our local Phoenix Children's Hospital!

Each donation helps fund pediatric medical equipment, treatments, charitable care and other healthcare services for local CMN hospitals. As the contributions continue to grow, we are able to aid a larger number of sick and injured children – which is something we take great pride in being able to do for our community.

Please help us reach out goal of ONE MILLION PENNIES for the “Month of Miracles” in August, 2018. You can drop by any one of our four offices to participate in our fundraising efforts, or contact the Regal Team and we’ll be happy to pick up your donation.

On behalf of all the kids at Phoenix Children’s Hospital, we thank you in advance for your support in helping us achieve this goal for our community!

Sincerely,

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 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

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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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