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Thinking of Selling Your Home This Spring?

by Melissa Dierks

Thinking of Selling Your Home This Spring? 

Are you thinking of selling your home this spring? Here are a few tips to help you create a smooth selling experience.

  1. De-clutter: de-cluttering helps prepare your home for the big move, plus there is truth in the say “less is more.” Go one room at a time, and divide belongings into categories: keep, yard sale, donate or trash.

  2. Start Packing: start packing now. Box up all your seasonal clothing to make your closets look roomier.  In addition, a buyer will appreciate a “neutral” vibe in your home by packing away your personal or sentimental valuable. 

  3. Repair and improve: Your home’s curb appeal is very important! Think about painting the front door and replacing the hardware. Do you have out dated or damaged light fixtures or appliances? Now would be the time to watch for sales on these items. Don’t forget to clean the windows and screens. A professional real estate agent can help you to determine which updates and/or repairs would make the most sense for your home. 

  4. Establish your time frame: do you need to be moved and settled before the next school year begins? Or maybe a new job in another state is requiring your relocation. Establishing a realistic time frame is key in creating a smooth transition from one home to the next.  

  5. Know the facts and trends of the market: every year we see trends and market changes and 2019 will be know different. And not all the news or hype on T.V. is accurate. Before you panic and call OfferPad, OpenDoor or request a Zillow instant offer, please reach out to a professional real estate agent to find out what your home is worth. Those convenient-buying services come with a steep price, which comes out of your hard-earned equity!

The spring weather is right around the corner, making it an excellent time to list and sell your home in the Valley of the Sun. Please give us a call today to help you successfully navigate the process, while netting you the best price and in the shortest amount of time.

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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1.5M Buyers Are Coming Back

by Melissa Dierks

Former home owners who lost their home to a foreclosure or a short sale are re-entering the housing market. Some housing analysts believe they could provide a big boost in housing demand for years to come.

Almost a million former home owners who underwent a foreclosure, deed-in-lieu of foreclosure, or short sale between 2006 and 2014 have already purchased a home again, according to new research from the National Association of REALTORS®. An additional 1.5 million are likely to become eligible to buy over the next few years.

Read more: Will Lenders Take Foreclosed Owners Back?

California, Florida, and Arizona are expected to see the largest number of return buyers within the next decade, according to NAR’s research.

However, damaged credit profiles will likely prevent millions more of the nearly 9.3 million home owners who lost their home to foreclosure or short sale between 2006 and 2014 to re-enter the housing market in the coming decade, NAR finds.

For many former home owners, the impact of a distressed sale on their credit score has limited their ability to return to the housing market.

"The extended time needed to repair credit scores or save for a down payment, combined with other overlapping post-distress factors on credit quality such as missed auto loan or credit card payments, will limit the ability for many to buy in the current credit environment," says Lawrence Yun, NAR's chief economist.

The use of new credit scoring models – such as Vantage Score 3.0 and FICO 9 – may help improve the ability of some of these buyers to become home owners again -- particularly models that now take into account on-time rental and utility payments.

"The deep wounds inflicted on the housing market during the downturn are finally beginning to heal as distressed sales continue to decline and home prices in some parts of the country have bounced back to their near-peak levels," Yun says. "Borrowers with restored credit will likely have the ability and desire to own again, encouraged by the long-term benefits homeownership provides in a stronger economy and more stable job market."

Source: "Return Buyers: Many Already Here, Many More to Come," National Association of REALTORS® Economists' Outlook Blog (April 17, 2015)

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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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