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“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said.1 And he’s right: most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages. But, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last well into the new year. Fannie Mae Senior VP and Chief Economist Doug Duncan predicts that existing... View Article
With rising house values across the United States, the Federal Housing Financing Agency recently announced plans to increase the conforming loan limits in 2021 for single unit home mortgages which are acquired by Fannie Mae & Freddie Mac. The raise from $510,400 to $548,250 applies to most of country. The loan limit is adjusted every year based on the average home prices. For people who want to have income and occupy a property, consider a multi-family home and occupy one of the units. There are increases here as well and the new conforming loan limits for duplexes, tri-plexes and four-plexes... View Article
FREE APPRAISAL – Find Out Your Home’s Value! It’s a Strong Seller’s Market in Phoenix and This May Be Your BEST Window of Opportunity to Sell! Oct. 23, 2020 Valuing homes can be complicated and there are many considerations, over and above the area sales and what other properties have sold at. We look at amenities, improvements, upgrades, features, repairs needed, and of course supply and demand plays a role in considering how much you can sell your home for. During this busy market, appraisal prices seem to be going out the door and many buyers are offering over appraised... View Article
Norman Lykes “Circular Sun House” Priced at $7,950,000 Many astute real estate investors purchase property at auction at a drastic discount and the price paid is rarely a representation of the value. Often sellers are in a hurry to sell and at an extreme disadvantage. View this post on Instagram A post shared by Deanna Peters, REALTOR 💎 (@azrealtordeanna) Markets change and as we know, similar to the stock market, the real estate market goes up and the real estate market goes down. We have a shortage of inventory in the metro Phoenix area, and my client owns the one... View Article