Phoenix Real Estate and Community News

April 5, 2020

Are home prices dropping?! - Real Estate Housing Market Update

WATCH VIDEO HERE: https://youtu.be/vO5QRIh1eJ8

Our Phoenix housing market has been slowly turning for the past few weeks now and we are seeing some changes. Just to let everyone know I am a Real Estate Broker here in Arizona, serving the valley for over a decade and a half helping investors, builders, traditional home sellers and buyers. I also do consulting services, if you're looking to learn how to actually invest in real estate and gain wealth through real estate, learn creative strategies like rent to owns/lease option contracts (even if you are not a Realtor which you don't have to be to know how to do this), notes, I can help. Make sure to like this video and Subscribe to learn more winning strategies and stay on top of the real estate housing market. Back to the stats/numbers: Supply is still insubstantial to meet the buyer demand. Fewer new home buyer contracts are getting signed. More home seller listings are getting cancelled. More purchase contracts are falling through. Fewer escrows are closing. There are more new listings that came on the market, especially below $400,000. Avg media price is $300,000 currently in Phoenix Arizona. Mortgage interest rates are currently in the low to mid 3's. Encouragement here is to buy and/or if you are a current homeowner, now may be the time to refinance. We will see home prices drop, not significantly at this time, but we are seeing 3-5% drop, particularly the luxury market (above 1M). Buyers will have some potential negotiation leeway over the next few months. However, sellers still have the clear advantage and there is no downward pressure on prices in the lower price points, as we are still at a 2 month’s supply, which has gone up over the last week. Remember 6 month’s supply is a balanced market, and when we start to hit 7+ months, we will be in a buyer’s market, and that's not happening anytime soon. We would have to see this current trend continue for several months if not longer, in order to even see a balanced market, never mind a buyer’s market. If you want to take advantage of this market, call me or send me a DM. Remember real estate is a long term Asset. Aside from flipping, real estate has always been Long term. People need a roof over their head, and you may as well capitalize on the equity position so you can secure your future with your real estate investments and gain some cash flow income. Thanks for watching. Awni and Chantell Abbas "AWNTEL" Realtors specializing in Real Estate Investing Sell • Buy • Invest • Multi-Units 480-788-4118 - ⚠️SUBSCRIBE to our Youtube Channel: https://www.youtube.com/buyandrentaz Hit the BELL icon to turn "ON" your notifications for new weekly videos. We share strategies, Real Estate investing advice, Insider news & current market updates. FOLLOW US on Instagram @awntelrealestate

Posted in Real Estate News
March 31, 2020

Covid 19 Impact on the Mortgage and Housing Market Update

watch video here: https://youtu.be/7NsW169t7Jk

 

Posted in Real Estate News
March 24, 2020

Preventative measures can be taken to reduce infections of COVID19

COVID-19 is a novel coronavirus that has infected more than 191,000 individuals in 164 countries and territories, causing the World Health Organization (WHO) to classify this outbreak as a pandemic on March 11, 2020. Symptoms include fever, cough, and shortness of breath. Anyone experiencing emergency signs such as difficulty breathing, persistent pain or pressure in the chest, new confusion or bluish lips or face should immediately seek medical attention.

 

What preventative measures may be taken to reduce the risk of contracting and spreading coronavirus?

 

The CDC urges individuals to take these measures to protect themselves and others:

*Wash your hands frequently with soap and water for at least 20 seconds. If soap and water aren't available, use an alcohol-based hand sanitizer.

 

*Avoid touching your eyes, nose, and mouth with unwashed hands.

 

*Practice social distancing by staying out of crowded places, avoiding group gatherings, and maintaining distance (approximately 6 feet) from others when possible.

 

* Avoid close contact with anyone who is sick.

 

*Stay home if you have a fever, cough, shortness of breath or any other cold or flu-like symptom.

 

*Clean and disinfect frequently touched objects and surfaces.

 

*Cover your mouth and nose with a tissue when you cough or sneeze, or cough or sneeze into your sleeve.

Posted in Community News
March 23, 2020

Economic Slowdown in 2020 - Coronavirus Triggers a Recession

Watch video here: https://youtu.be/fjTVc15GJo4 

 

Posted in Real Estate News
March 13, 2020

Buying a Home: Do You Know the Lingo?

Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.

To point you in the right direction, here’s a list of some of the most common language you’ll hear along the way. (Swipe to see larger image of the infographic). The best way to ensure your home buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’ Call or DM Us at 480-788-4118 and we would love to guide you through the home buying process. Here to help.

Awni and Chantell Abbas
"AWNTEL"
We share strategies, Real Estate investing advice, Insider news & current market updates.
Realtors specializing in Real Estate Investing
Sell • Buy • Invest • Multi-Units
480-788-4118
Follow us on INSTAGRAM: @awntelrealestate

 

Posted in Buying a Home
March 10, 2020

Quick housing update!

 

Quick update: Inventory is extremely low right now. We are at 2 months supply of inventory; Under 6 months supply is not a balanced market. We are still in a seller's market.

 

The Average home price is $298,000 in the Metro Valley. Homebuyers under 300k price range can't even catch a break!

 

However, interest rates are at a Serious all time low (high 2's- mid 3's% currently). Currently a very challenging market for the average home buyer.....yet excellent for home sellers and luxury home buyers.

 

Our Latest update video regarding the real estate housing market, rate changes, the Economy and the Covid-19 coming up...you can also catch it on our YouTube channel this week (link in our Bio), stay tuned

 

 

#covid19 #coronavirus #outbreak #phoenixrealtor #phoenixaz #realestatetips

#housingmarket #realestatemarket #realtor #property #realestateforsale #realestateexpert #mortgage #realestateinvestor #phoenixrealestate  #realestate 

Posted in Real Estate News
March 9, 2020

New Homes Coming to the Housing Market This Year

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.

Today, because of the tremendous lack of inventory, a seller can potentially anticipate:

 

1. A great sale price on their house as buyers engage in potential bidding wars.

 

2. A quick sale as buyers have little inventory to choose from.

 

3. Fewer hassles as buyers want to smoothly secure a contract.

 

If you’re considering selling your house, you’ll want to list sooner rather than later. This way, you’ll get ahead of this new competition coming to market and ensure the most attention toward your listing and the best price for your house.

Call or send us a DM if you are looking to buy real estate investment or even sell your investments.

 

Awni and Chantell Abbas

"AWNTEL"

Realtors specializing in Real Estate Investing

Sell • Buy • Invest • Multi-Units

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Consider Subscribing to our channel 👉🏼LINK IN BIO

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FOLLOW US on Insta @awntelrealestate

 

  #realestatemarket #realestateinvesting 

 

Posted in Real Estate News
March 4, 2020

Coronavirus: Will it affect the housing market in Phoenix Arizona?

 

 

 

WATCH VIDEO HERE: https://youtu.be/Xmye5VQf-ys

Posted in Real Estate News
March 3, 2020

How Your Tax Refund Can Move You Toward Homeownership This Year

If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this year. According to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20% down payment is not always required to buy a home, even though that’s a common misconception about homebuying. Veterans Affairs Loans allow many veterans to purchase a home with 0% down. How can my tax refund help??? If you’re a first-time buyer, your tax refund may cover more of a down payment than you ever thought possible. If you take into account the median home sale price by state, the percentage of a 3% down payment that’s covered by the average tax refund. hashtagtaxrefund hashtagtaxseason hashtagtaxes hashtagtaxrefunds hashtagtaxrefundseason hashtagtaxrefundtime hashtagtax hashtagtaxrefundsale hashtagtaxreturn hashtagtaxrefundcheck hashtagtaxrefundmoney hashtagtaxrefundballers hashtagmidtownphoenix hashtagrealestateinvestor hashtaghistorichomesinphoenix hashtagrealestatebroker hashtagrealestatewealth hashtagphoenix hashtagrealestateinvesting
Posted in Real Estate News
Feb. 29, 2020

Real Estate Investor Scams in 2020!

Real Estate Investor Scams in 2020!

https://youtu.be/ih8Ja_cP2bk

 

Posted in Community News