Phoenix Real Estate Industry News

Empower yourself against deed fraud with Maricopa title alert.

As we gear up for the festive season, I wanted to bring an increasingly common issue to your attention–deed fraud. This issue is particularly prevalent in Arizona, and I want to share some ways you can protect yourself. Maricopa County has launched Maricopa Title Alert, a service that can significantly bolster your defenses against this type of fraud. Today, I'll be explaining how deed fraud occurs, particularly with vacant land and out-of-state property owners, and how you can use this new service to safeguard your property.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:15 — Deed fraud on the rise in AZ

0:52 — Maricopa Title Alert

1:51 — Out-of-state sellers

5:17 — One example of deed fraud

7:00 — Using Maricopa Title Alert

8:26 — Coming soon to a county near you

9:10 — Wrapping up

Remember, if you have any questions about title fraud or real estate in general, please don’t hesitate to reach out to me by phone or email. I am always happy to serve as your resource for all of your real estate needs. And, for those of you in Maricopa, here is that link to Maricopa Title Alert so you can get registered and protect your properties.

What expert Lizy Hoeffer has to say about the future of interest rates.

Right now, there’s a lot of uncertainty in the real estate market about interest rates. As you may know, rates are currently higher than they’ve been in a long time; however, there are rumors rates will decrease next year. Are these rumors valid, and how do recent geopolitical events around the globe affect rates? Today, I’m speaking to loan expert Lizy Hoeffer to answer these questions and more. 

As always, don’t hesitate to call or email me with any questions. I look forward to hearing from you!

Uncover the secrets of staying “indistractable” and increasing productivity.

Are you ready to take back control of your day, and become indistractable? I know I struggled with keeping my days organized and free of distractions. Then I came across the book Indistractable by Nir Eyal, and it changed my life. Today, I’m discussing this fascinating read, and sharing examples of how it impacted my workday.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:51 — Indistractable

2:09 — Timeboxing

2:45 — My example of time boxing

6:09 — SaneBox

9:11 — Wrapping up

Remember, if you have any questions about my takeaways from Indistractable or the business of real estate in general, please don’t hesitate to reach out to me by phone or email. I would love to serve as your resource for all of your business needs.

For those interested, you can pick up a copy of the book here.

And you can also check out SaneBox by going here.

What homeowners need to know about the future of interest rates.

I have a recurring question that keeps coming up, especially in light of the recent decision by the Federal Reserve to keep interest rates unchanged. They opted not to raise rates by a quarter or half point, as they've done in the past.

Naturally, many people are asking me, "What's happening with interest rates?" Well, they have essentially remained unchanged following this decision. As of my latest check, they are averaging around 7.5%.

The next question on everyone's mind is, "When will rates drop?" Predictably, there are numerous forecasts out there, each economist providing their unique perspective. It's no surprise that you can ask ten different economists about interest rate predictions and receive ten different answers.

"By this time next year, rates will likely be lower. "

Check out this link for an article that does a commendable job of explaining the current situation and offers forecasts from three major players in the market: the Mortgage Bankers Association, Fannie Mae, and the National Association of Realtors. They've projected interest rates from the first quarter of 2024 through the fourth quarter of the same year.

The Mortgage Bankers Association has the lowest forecast at around 5.4%, representing a significant drop from today's rates. This could translate to nearly $1,000 in monthly savings on a $500,000 loan.

Next, the National Association of Realtors predicts about 6%, and Fannie Mae estimates 6.3%. So, their projections range from 5.4% to 6.3% for the fourth quarter of next year. It's worth noting that we are entering the fourth quarter of this year, so we have some time ahead.

What will happen when rates drop further? Lower rates will undoubtedly lead to reduced monthly payments for homeowners. However, it's also expected to spark a surge in homebuyers entering the market. This, in turn, may intensify competition for available properties, which are already in short supply. Most sellers are unlikely to give up their favorable interest rates unless they're significantly downsizing.

If you have questions about this topic or anything else, please call or email me. I am always willing to help!

This is why you shouldn’t skip home inspections even on a new build.

Today, I want to discuss an interesting observation during a recent home inspection of a new property. Surprisingly, we've encountered more issues in some new builds compared to homes constructed in the 1950s or 1960s. This can be concerning, but it raises a common question: Why should one invest $500, $600, or even $800 in a home inspection for a brand new house? I'll explain precisely why a home inspection is crucial, especially for new homes.

In this specific case, we examined a brand new home with an issue related to the AC unit. There was a noticeable half-inch gap between the unit and the ductwork. Essentially, the unit was cooling the entire attic, not the living space. When our inspector opened the unit's cover, the air blew so forcefully that it pushed his hair back, highlighting the problem. Furthermore, this improper cooling was evident as the house wasn't cooling down effectively. The inspector ventured into the attic to investigate further.

"If you or someone you know is purchasing a new home and contemplating skipping a home inspection because it's new, think again."

If you or someone you know is purchasing a new home and contemplating skipping a home inspection because it's new, think again. In today's construction environment, it's just as crucial, if not more so, than when buying a 50 or 60-year-old home. With the way homes are being built right now, making a thorough home inspection and getting a good inspector have become  critical steps.

If you have any questions about home inspections or need assistance, feel free to reach out. We’re here to help.

Sharing an important update on the latest market trends and changes.

Curious about the latest shifts in the real estate market? Our comprehensive market update is here to provide you with the insights you need to know about 2023’s market. From housing inventory to buyer demand to evolving pricing trends, we're breaking down the key dynamics influencing the current real estate landscape. This is what you need to know before entering the market. 

 As always, don’t hesitate to call or email us with any questions. We look forward to hearing from you!

Today I wanted to talk to you about the Home in 5 Advantage Program. This is a government grant program that gives you 5% towards your down payment and closing costs.

We have sold more than 100 homes using this program since it was launched in 2012. Recently, there have been rumors that the program is almost out of money, so anyone who wants to cash in on this program needs to do so quickly.

There are a few requirements you need to meet in order to be considered eligible for this program.

First of all, the maximum home purchase price for this program is $300,000. Right now, there are 3,600 homes currently on the market priced between $200,000 and $300,000, so you do have a lot of options to choose from. Your mortgage payment would run from $1,100 to $1,500. If that’s about what you’re spending on rent, you could purchase your own home today with no money out of pocket.

You may wonder about the extra $5,500 or $6,000 you would be responsible for after you get the grant money. Don’t worry - in most cases, we are able to get the seller to pay that so you can get into the home without putting any money down.

This program will get you a 30-year fixed rate home loan, whether you are using an FHA, VA, or USDA loan. Remember, this program gives you a grant, so you don’t have to repay the money from Home in 5 Advantage.

You only need a 640 credit score, which is pretty low. The maximum debt-to-income ratio allowed is 45%. If you’re not sure what yours is, call us and we can help you figure it out.

There is no first-time home buyer requirement for this program. You could be buying your second, third, fourth, or even fifth home and still qualify.

The maximum qualifying income is $88,000. If you are making more than that, you won’t necessarily qualify for this program. However, there are other programs available, such as FHA loans, which only require 5% down.

Finally, if you are active military or a veteran, the down payment assistance is increased to 6%.

If you have any questions about this program, now is the time to ask them. Take advantage of this program before the funding runs out. Give me a call or send me an email. I would be happy to help you!

“I think Bob and his staff went above and beyond. We had several open houses in the first two months that our property was on the market. Bob and his sales staff manned the house every weekend and did an excellent job of displaying our property to the public. We had multiple offers on our property and at the end of the day were able to sell the home for a very satisfactory price. I would definitely recommend Bob to anyone considering listing their home for sale.”