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Categories for Buying A Home

CROMFORD MARKET UPDATE

May 18, 2023

Greater Phoenix Losing 246 Listings per Week in 2023 Prices Recovering, Median Up to $425K in May For Buyers: The sharp decline in supply for Greater Phoenix is a good reason for buyers to have a sense of urgency about purchas-ing a home. Since the beginning of 2023, supply counts have been declining at an average rate of 246 listings per week and since the peak in October, total supply is down 42%. At this rate, the effects of the massive supply surge last year will be erased and the year-over-year change will be negative within 6 weeks. In fact,... View Article

HOW TO BECOME A HOMEOWNER ON A FIRST-TIME BUYER’S BUDGET

May 2, 2023

It’s not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low.1 Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.2 In fact, according to the National Association of Realtors, only 26% of last year’s homebuyers were first-timers—the lowest share on record and down from 34% a year prior. This underscores just how steep a hill new buyers... View Article

STRESS-FREE HOME CLEANING: 27 PRACTICAL TACTICS FOR BUSY HOUSEHOLDS

April 7, 2023

Keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks. The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.1 Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.2 The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles... View Article

MY HOME DIDN’T SELL!! NOW WHAT?

March 3, 2023

When it comes to listing a home for sale, most sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. Homeowners who try to do it themselves without a REALTOR or who receive bad advice from an unskilled agent, can end up stuck months later with a property that hasn’t sold. We’ve outlined the top five reasons a home doesn’t sell—and action steps you can take to overcome each of these issues. Not sure why... View Article

2023 REAL ESTATE MARKET OUTLOOK (AND WHAT IT MEANS FOR YOU)

January 4, 2023

Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. Both demand and price appreciation have tapered, as the primary challenge for homebuyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many buyers and sellers, it should ultimately lead to a more stable and balanced real estate... View Article

Deanna Peters, REALTOR
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