Tucson Market Trends, News, and Lifestyle

Feb. 21, 2018

2 Ways To Get The Most Money From The Sale Of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

A study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Posted in For Sellers
Feb. 16, 2018

Should I Wait Until Next Year To Buy? Or Buy Now?

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.1% by 2019.
  • CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!
Posted in Interest Rates
Feb. 13, 2018

How to Protect Your Information Online

Many of us spend a lot of time online. We shop, use social media to connect with family and friends, send personal and business emails, pay bills and more. This makes it incredibly important to ensure our personal information is safe from thieves. Below are several tips to help you keep your information secure.


Posted in Uncategorized
Sept. 14, 2017

Boost Your Home’s Online Appeal with Great Listing Photos

As more buyers go online to search for homes, listing photos are more important than ever. Below are several tips to help ensure your listing photos feature your home in its best light. If you’re thinking of listing, give me a call. I’d love to help you through the process.

Posted in For Sellers
Aug. 14, 2017

How to Maintain Great Credit

Perfect credit doesn’t have to be elusive. With time, patience and a few good habits, you can gradually improve your credit score over time. Below are some tips to help boost your credit score as well as some information on what defines “good” credit.

Posted in For Buyers
June 21, 2017

Color Made Easy

Want to give your home’s interiors a fresh spot of color but aren’t sure where to start? Below are some helpful tips to make it easy to choose the color scheme for the walls of your home, whether you’re making over a single room or the whole house. 

Posted in For Sellers
June 1, 2017

5 Steps for Personal Development

Want to commit to personal growth and positive change but aren’t sure how to start? Below are five steps to help you begin today. From setting goals to journaling, these are sure to help you along the path to lifelong learning and personal development.

Posted in Uncategorized
March 6, 2017

The Connection Between Home Prices & Family Wealth

Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?

Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.

Over a five-year period, their equity will increase by nearly $43,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find a home today!

Posted in For Buyers, Pricing
Feb. 27, 2017

Where Are the Home Prices Heading in the Next 5 Years?

Realtor.com's 2017 housing forecast anticipates home prices in Tucson, AZ to increase 6.10 percent and existing home sales are forecasted to increase 5.7 percent to 5.46. Interest rates are expected to reach 4.5 percent due to higher expectations for inflationary pressure in the year ahead.

Today, many real estate conversations center on housing prices and where they may be headed.

That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 4.4% over the course of 2017, 3.4% in 2018, 2.8% in 2019, 2.7% in 2020, and 2.8% in 2021. That means the average annual appreciation will be 3.22% over the next 5 years.

The prediction for cumulative appreciation fell from 21.4% to 17.3% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 6.3%.

Bottom Line

Individual opinions make headlines. We believe this survey is a fairer depiction of future national values.

Feb. 14, 2017

First Comes Love… Then Comes Mortgage?

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2016 at 58% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.

But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 14% of all first-time buyers last year.

If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2016, while single men accounted for 8% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to want to own their home, rather than rent.

Here is the breakdown of all first-time homebuyers in 2016 by percentage of all buyers, income, and age:

Bottom Line

You may not be that much different than those who have already purchased their first homes. Let’s get together to determine if your dream home is already within your grasp! In the meantime, check out all the newest listings in Tucson now on the premier home search site, nextdooraz.com! Click Here.

Posted in For Buyers