Why is there no inventory? We hear there is no housing inventory and has not been any housing inventory for a few years now. So why?

First, let’s look at some numbers. There are three types of markets. A seller’s market is roughly understood as there are less than three months of inventory available on the market for sale, so if the house is priced right and looks great then they often have an advantage because there are likely many buyers who will be interested in their house. When the market gets over 6-months of inventory, then the buyer often has the advantage. And between 3-6 months is more of a neutral or balanced market.

Another number we look at is active listings. In the Phoneix market, we consider about 30-35k listings to be about a balanced market. Today there are less than 20,000. In Chandler, we have under 800 active and pending where a balanced number is usually closer to 1200.

So there are the numbers, now why is this the case.

I am going to use an example here from a client of mine who was considering moving. He purchased his 2,000 square foot house in for just under 175,000 in 2011. His current interest rate on that house is 3.5% and his monthly total payment is right at about $1,000 a month.

He contacted me saying he was thinking about moving to a slightly nicer neighborhood. We ran some numbers. If he put 20% down he was still looking at a mortgage just north of $300,000. If he got a 4.6% interest rate, which may sound high compared to his previous rate, but it is still low when you consider historic norms. His total payment was going to be around $1650. His monthly house payment was going to jump over $650 a month.

This is the reality that many homeowners who purchased between 2010 and 2014 are facing. To this former client, the extra $650/mo was not worth the house he was getting. With upgrades to his house, it was worth it stay where he was and put away those extra savings.

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Even with the help of professional movers taking some of the stress off you, it still manages to frequently rank among the top of life’s most stressful events.  If you’re lucky you get a weekend trip to house hunt.  But then what?  How do you make the most of your short time in your new city?  Maybe you’re organized and you google REALTORs or you find one who has paid to advertise on your favorite real estate app, also if you’re moving from Europe or any other continent, learning how much does it cost to move overseas can be useful before actually doing it.

Maybe you call a couple and hope they answer the phone, or your relocation company may have a couple of REALTORs they like to send people to.  Do you know anything about them?  Do you even know what questions to ask them?  Do they sell 2 houses a year or 100?  How do YOU know that THEY know what they’re doing? Contact this mover in Boston MA for a hassle free moving experience. If you are ready to move you will be needing a cleaning company that is in expert in end of tenancy cleaning, have a look at the cheap end of tenancy cleaning london, they can make sure to leave your new place spotless.

This is where we can step in.  Let the Phoenix Real Estate Guy help.  Did you know that we have an awesome network of professional REALTORs all over the country?  And beyond, actually…internationally.  People that we know personally and trust professionally, and if you plan to move to a different state, what you can do is to get a Out of State Moving Company to help you with this.  Part of our job is to help you interview REALTORS in t, Las Vegas, Nashville…wherever.  We can help match you with someone who specializes in the type of home or area you’re looking in.

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In this crazy competitive real estate market, it’s challenging for a seller to distinguish your offer from the fray. I recently had a listing receive 7 offers within 24 hours.  They were all so similar it was ridiculous.  I ran net sheets for the sellers so they’d know what their bottom line would be with each and 5 of them were within $200 once everything was said and done.  How do you pick one? Well first check the Blockbuster news in Singapore, luxurious living in River Valley at Irwell Hill Residences Condo will be unveiled in 2021. If you need property management services, you can hire property management melbourne.

Enter the Buyer Love Letter.  I’ve had clients write a letter to the seller many times over the last several years and it frequently is mentioned when we get an accepted offer.  I just had a first time buyer get an accepted offer, in part, by using a letter to the seller.

A Buyer Love Letter is basically a letter to the sellers telling them a little about the buyer and why this home is THE ONE for the buyers.  It’s helpful to note things about the house that are desirable or ways that the sellers have maintained the home, upgrades they’ve made, etc.  Indicating that the buyer plans to love the home and take care of it as the seller has.  Compliment the seller and try to make a personal connection.  Not only does it make your offer stand out but it also helps the seller realize that you’re committed to your offer and seeing the contract through to completion.  It helps them to see you as humans with housing needs and wants similar to their own.

Note – I’ve seen it go too far.  Don’t be weird about it, OK?  I had a client I was working with (we parted ways and didn’t complete a transaction) who decided to bake cookies and deliver them to the sellers.  Sweet idea maybe but the sellers felt that was over the top and a little creepy.  Not recommended. If you don’t overdo it and are successful, then the next step will be to hire residential movers to help you move in to your lovely new home.

Looking to buy or sell a home? We can help!  We’d love to help you navigate the Phoenix area real estate market and help represent you so you get the best deal whether you’re buying or selling.  You can reach me at 480.560.7255 or shar@phoenixrealestateguy.com.

I have been in the real estate business longer than I haven’t. Fortunately, I love what I do.

One of the things that often makes me shake my head is when people try to save money by cutting corners or acting out of their area of expertise.

I was reminded of this yesterday when I viewed a home in an awesome Tempe neighborhood.

This home was originally listed for sale at $510,000. The “new” flooring has large gaps, does not appear to be installed correctly and “squishes” when you walk on it. What were they thinking?

I could be wrong, but I think it went something like this…

“Hey, if y’all come on over to tha’ house this weekend and help me lay some of that wood lookin tile stuff, I’ll grab some pizza n beer.“

So, if you are preparing your house to sell it, spend your money wisely. We walk through this process with people all the time. Just give us a call at 602-803-6425. We’re happy to help you avoid costly mistakes…

In an online real estate forum, I recently saw an agent say “The internet makes us all local.”

I’m not so sure I agree with that…

Ironically, as I read this I am sitting in a hotel room in Santorini, Greece where my wife and I are on vacation. Yes, we have access to the internet. Guess what, I don’t feel like a local…

I can see reviews of restaurants, I can find a really cool boat tour, I can and did search for a nice hotel. OK, my wife found the hotel, but you get my point…

Heck, I can even open an ap on my phone and look at houses for sale here in Greece. BUT, I sure wouldn’t feel comfortable trying to figure out their true value…

In the photo below, I am wearing a shirt from a really cool local restaurant in my neighborhood. For a fairly small number of locals in Tempe, AZ, the name of the restaurant, the type of food, the vibe of the restaurant is instantly known. I’d bet a LOT of money that no one who saw my shirt that day had any idea what the shirt represented. Internet, or not.

The hat I am wearing just has a pitchfork on the front of it. Most of us locals back home in Arizona know what the pitchfork represents. Three different times while I was in Greece, people asked me if the logo on my hat was a Maserati logo. Locals, yo.

I got the feeling that the agent talking about all of us being local was trying to convey the message that we can now work in many different areas. While I don’t necessarily disagree with the fact that we CAN work many areas, I do disagree with anyone who infers we should work outside of our area of expertise.

The internet makes us all local – Really?

You see, by law, I can sell real estate in the entire State of Arizona. As you may know, Arizona is a pretty big state with a LOT of people. I have lived in the Metro Phoenix area for a long time and have been licensed to sell real estate since 1992. If someone wants to buy or sell a home in this area, I am very confident that I can help them and be able to represent their best interest in a purchase or sale. If someone wants to buy or sell a home down in Tucson, over in Lake Havasu, up in Flagstaff or in many other parts of our great state, I would gladly refer them to a friend who lives, works and plays in any of those areas outside of my expertise. Sure, I have a computer and I know how to use it pretty well, but the notion that “The internet makes us all local” just doesn’t sit well with me.