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The Regal Team Home Inspection Series 3- Electrical Panel

by Melissa Dierks

The Regal Team Home Inspection Series 3- Electrical Panel

The Regal Team is excited to present part three 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.

Electrical panels are boxes that house circuit breakers, which are safety devices that stop the electrical current if it exceeds the safe level for some portion of the home electrical system. Many people, even experienced electricians, have been killed or seriously injured while opening electrical panels. Inspectors must be aware that all forms of electrical inspections, especially electrical panel inspections, are inherently dangerous.

In this episode, Kris Houser with Insight Real Estate Inspection Service explains to our very own Robert Dierks what they are looking for specific to the electrical panel. There is a lot more than just "breakers" when it comes to this area of the home.

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 your electrical panel. 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!

The Regal Team Home Inspection Series 2- Hot Water Heater

by Melissa Dierks

The Regal Team Home Inspection Series 2- Hot Water Heater

The Regal Team is excited to present part two 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. In part two, Kris Houser with Insight Real Estate Inspection Service explains to our very own Robert Dierks what they are looking for as it relates to the water heater.

Water heaters run on electricity or a combustible fuel, and most of them are always switched on. There’s a lot that can go wrong under such high demand. The size and design of water piping running to and from the water heater is extremely important and can affect aspects like water pressure and water leaks. Discover the most important safety component of a water heater and how it can save an entire home.

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 your water heater. If you’d like more information about home inspections, or if you’re ready to sell your Phoenix home or buy a home in Phoenix, please contact The Regal Team today!

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!

The Regal Team Home Inspection Series 1- Air Conditioning

by Melissa Dierks

The Regal Team Home Inspection Series 1- Air Conditioning

A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections.

The Regal Team of RE/MAX Professionals is excited to present a 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. In part one of our five-part series we discuss the importance of what home inspectors look for regarding your air conditioning.

During the inspection of the air conditioning system, the home inspector should identify the type of system and document all of the relevant information from the data plate, including the age, and should make a determination as to whether or not to operate the system. The inspection should include examining the outdoor cabinet, refrigerant lines, the indoor unit, and duct work. These procedures should be followed when inspecting the cooling system.  Additionally, you have to make sure Arizona standards of practice or an association’s standard of practice are being followed.

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 some of the "big ticket" items for a home. If you’d like more information about home inspections, or if you’re ready to sell your Phoenix home or buy a home in Phoenix, please contact The Regal Team today!

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

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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 Fall Curb Appeal Tips to Quickly Sell Your Home

by Melissa Dierks

3 Fall Curb Appeal Tips to Quickly Sell Your Home

With the fall season being one of the most popular times to sell, making your home stand out amongst the competition is essential and having attractive curb appeal grabs potential homebuyer’s attention and interest. Homes with high curb appeal command higher prices and take less time to sell. How do you make your home stand out from the moment it’s seen? Here are 3 fall curb appeal tips to quickly sell your home.

1.) Add an Adorable Door:  The front door makes a great focal point to any homes exterior and makes a good attention-grabbing tactic. A fresh coat of paint in an eye catching, tasteful color can make your entrance stand out. But if painting your door red isn’t an option (hello, angry homeowner association!) try adding a simple wreath of fall foliage and flowers to add a nice, inviting touch to your front entry.

2.) Beef Up Your Yard: Brown spots, weeds, and dry leaves do not a well maintained yard make. Be sure to upkeep your front lawn by removing clutter and weeds from gravel, pruning bushes and covering bare spots in grass with seeds and sod as needed. Once your yard is looking nice, add some attractive punches of color like planting colorful fall annuals.

3.) Let there be light! As the days get shorter, it gets darker faster and safe lighting and clear paths are vital for potential home buyers who are viewing your home in the evening. Make sure your exterior lighting is clean and has no burnt out bulbs. You can also add flood lights or motion sensor lights to light your entry and solar lighting or decorative lanterns to illuminate walkways. You can even add some decorative lights to enhance the inviting fall season look; just keep it simple and tasteful.

Which of these 3 fall curb appeal tips to sell your home quickly do you plan to use? If you are looking for more fall curb appeal tips or looking to sell your Phoenix home, please contact The Regal Team today for a free valuation of your home with absolutely no obligation.

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!

RE/MAX National Housing Report for August 2018

by Melissa Dierks

RE/MAX National Housing Report for August 2018

The RE/MAX National Housing Report for August 2018 shows increasing home prices, low inventory and a reduction in days on market. These combined factors made August 2018 the sixth time this year that home sales lagged behind last year’s pace—but only slightly at -1.1 percent. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

Home prices rose by 3.7 percent over August 2017, much lower than the year-over-year price increase of 5.4 percent from August 2016 to August 2017. In fact, the past three months of 2018 have trailed 2017’s rate of price growth year-over-year—compare that to four of the first five months of 2018 when year-over-year price increases easily topped those posted in 2017.

The Median Sales Price of $248,500 marked the twenty-ninth consecutive month of year-over-year price increases.

Even though active inventory dropped for the 118th consecutive month, the decline of 5.4 percent from August 2017 marked the smallest year-over-year decrease since August 2014. In addition, the August 2018 inventory drop marked the fourth consecutive month in 2018 to post single-digit percent declines, rather than the double-digit monthly drops consistently seen in early 2018 and over the previous three years.

“It varies by market, but we’re hearing that buyers are being more selective and sellers are becoming more pragmatic,” said RE/MAX CEO Adam Contos. “That dynamic could bring inventory levels up, especially in the most overheated markets, where we expect to see the clearest signs of equilibrium returning. The economy is strong and potential buyers are out there—they just need more listings, at the right price points, to consider. We believe that balance will return, which will be good for everyone in the long run. It’s just a matter of when.”

Contos added that although the lack of inventory continues to be a challenge, the trends suggest that the market finally appears to be rebalancing.

“The moderation we are experiencing seems to be a bit more than the normal seasonal lull we’d expect this time of year,” said Contos.

Click here to download your copy of the RE/MAX National Housing Report for August 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, 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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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

Follow us on Facebook!

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!

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!

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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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