Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 23, 2019

BUYING A HOME IN ARIZONA | STEP 1: FINANCES

Despite all the technology available for finding your dream home, preparing in full still takes time and research. Regardless of whether or not you’re a first-time buyer or a veteran who’s purchased multiple residences over the years, it’s important to navigate your home search with the following steps in mind:

 

    1. Build Up Your Savings
      Lenders nationwide continue to have stringent lending standards, requiring significant amounts of capital for prospective borrowers in order to secure a home loan.

      Make sure you focus on building wealth before even considering your home purchase. This will ensure you have more than enough funds to convince lenders that you’re ready to become a homeowner and handle the subsequent mortgage payments.
    2. Improve Your Credit Score
      As many prospective arizona buyers know, how much money you have in the bank isn’t the only factor considered by lenders– your credit score strength can also play a huge role. Luckily, the math is pretty simple: the higher your score, the better you look!

      For some, raising your credit score is easier said than done. Even if you have a strong credit score, make sure you’re doing things like paying all of your bills on time and in full. If you need to, set goals for eliminating outstanding debts and do your best to avoid opening new lines of credit.

      Remember that aiming for a higher credit score not only improves the odds of securing a home loan, but it also increases the likelihood of favorable loan terms!

  1. Get Mortgage Pre-Approval
    Once you have all your finances in order, it’s time to head to your a lender for a home loan pre-approval. You may have heard or read the term “pre-qualification” in your research thus far, but it’s important to understand the difference between the two before you get in touch with a lender:
    1. Pre-Qualification – A lender’s estimate of how much house you can afford (often available online)
    2. Pre-Approval – A lender has deemed you worthy of receiving a mortgage

 

Once you’ve handled your finances, you can confidently continue on the search for your new arizona home! Make sure you’re taking a look at what’s available in the area and reach out to a trusted buyer’s agent for more details on what comes next.

Posted in Home Buying Guide
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates