Phoenix Real Estate and Community News

June 30, 2020

Phoenix Real Estate Market June 2020 - NEW Executive Orders | Home Prices Today | Mortgage Rates

Wrap up of JUNE 2020 National and Phoenix Arizona Real Estate Market News - NEW Executive Orders | Home Prices Today | Mortgage Rates If you are new to our channel, I am a Real Estate Broker / Agent / Investor here in Arizona, serving the valley for over a decade and a half helping investors, builders, traditional home sellers and buyers. I also do real estate 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, from traditional resale/multi-family investing, flipping homes, wholesaling/assigning contracts, lots/new build development, etc. Real estate investing is our main specialty. It has completely changed our clients lives and even our own personal lives forever, for the better (even if you are not a Realtor which you don't have to be to know how to do this), 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. Cheers from sunny beautiful Arizona, Thanks for watching. Awni and Chantell Abbas "AWNTEL" Realtors specializing in Real Estate Investing Sell • Buy • Invest • Multi-Units 480-788-4118

 

VIDEO: https://youtu.be/zu8xYXJu-bM

 

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June 29, 2020

Wow, amazing review! Thank you! Need help finding a solid renter for your home? Look no further

Need help finding a solid renter for your home? Look no further

#realestateinvestor #realestatebroker #multifamily #phoenixrealestate #arizonarealestate #arizona #phoenix #phoenixaz #tenantplacement #landlords #landlording #landlordproblems #landlordtips #renter #phoenixrealtor

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June 29, 2020

What’s going to happen to the housing market in the second half of the year?

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year?
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Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging.
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Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year:
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Mortgage Purchase Originations: Joel Kan, Associate Vice President of Economic and Industry Forecasting, Mortgage Bankers Association
“The recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don’t think that’s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year.”
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Home Sales: Lawrence Yun, Chief Economist, National Association of Realtors
“Sales completed in May reflect contract signings in March and April – during the strictest times of the pandemic lock down and hence the cyclical low point…Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.”
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Inventory: George Ratiu, Senior Economist, realtor dot com.
“We can project that the next few months will see a slow-yet-steady improvement in new inventory…we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.”
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Mortgage Rates: Freddie Mac
“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”
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New Construction: Doug Duncan, Chief Economist, Fannie Mae
“The weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur.”

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The experts are optimistic about the second half of the year. If you paused your 2020 real estate plans this spring, reach out to us at 480-788-4118 or DM/text/email to determine how you can re-engage in the home buying or selling process.
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<👉🏼Subscribe to our You Tube channel-LINK IN BIO or search my name "Awni Abbas" on youtube - Hit the BELL 🔔 icon to turn "ON" your notifications for new weekly videos. We share real estate investing strategies/advice, Insider housing news, current market updates, and we taste many delicious restaurants so that you can check them out and support local!👈🏼>
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Awni and Chantell
"AWNTEL"
Realtors specializing in Real
Estate Investing
Sell • Buy • Invest • Multi-Units
480-788-4118
•
Follow us on Instagram @awntelrealestate
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June 28, 2020

Think You Should For Sale By Owner? [INFOGRAPHIC]

 

For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or real estate agent.
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According to the National Association of Realtors’ Profile of Home Buyers & Sellers, 35% of homeowners who decided to FSBO last year did so to avoid paying a commission or fee. But, homes sold with an agent net 6% more than those sold as a FSBO according to Collateral Analytics.
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Before you decide to take on the challenge of selling your house on your own, connect with us by phone at 480-788-4118 or send us a message by DM to discuss your options.
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<👉🏼Subscribe to our You Tube channel-LINK IN BIO or search my name "Awni Abbas" on youtube - Hit the BELL 🔔 icon to turn "ON" your notifications for new weekly videos. We share real estate investing strategies/advice, Insider housing news, current market updates, and we taste many delicious restaurants so that you can check them out and support local!👈🏼>

Awni and Chantell
"AWNTEL"
Realtors specializing in Real
Estate Investing
Sell • Buy • Invest • Multi-Units
480-788-4118

Follow us on Instagram @awntelrealestate

 

 

Posted in Selling Your Home
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June 25, 2020

Should we be looking at unemployment differently?

The New York Times recently ran an article regarding unemployment titled: Don’t Cheer Too Soon. Keep an Eye on the Core Jobless Rate. The piece suggests we should look at unemployment numbers somewhat differently. The author of the article, Jed Kolko, is a well-respected economist who is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously, he was Chief Economist and VP of Analytics at Trulia, the online real estate site.
Kolko suggests “the coronavirus pandemic has broken most economic charts and models, and all the numbers we regularly watch need a closer look.” He goes on to explain that the decline in the unemployment number reported by the Bureau of Labor Statistics (BLS) earlier this month was driven by a drop in temporary layoffs. If we strip those out, we’re left with what Kolko calls the core unemployment rate. Many economists have struggled with how to deal with the vast number of temporary layoffs, as a complete shutdown of the economy has never happened before.
73% of all unemployed people said they were temporarily unemployed, which means they had a return to work date or they expected to return to work in 6 months. Before the pandemic, temporary unemployment was never more than one-quarter of total unemployment.
The core unemployment rate handles this issue and also deals with another concern economists have discussed for years: the exclusion of the marginally attached. These are people who are available and want to work, but count as out of the labor force rather than unemployed because they haven’t searched for work in the past four weeks.
Kolko’s core rate does three things:
  1. Takes out temporary unemployment
  2. Retains the rest of the standard unemployment definition: permanent job losers, job leavers, and people returning to or entering the labor force
  3. Adds in the marginally attached
The unemployment rate is a key indicator of how the economy is doing. Heading into a highly contested election this November, the BLS report releasing next week will be scrutinized like no other by members on both sides of the aisle. Mr. Kolko’s take is just one additional way to evaluate how unemployment is impacting American families.
Posted in Community News
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June 24, 2020

Homebuyers are in the mood to buy today.

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.
There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:
“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.” With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the housing market forward.
Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009. Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood.
Mortgage rates aren’t the only thing hovering near all-time lows; homes available for sale are too. With housing inventory as scarce as it is today – a nearly 20% year-over-year decline in available homes to purchase – keeping buyers in the purchasing mood may be tough if they can’t find a home to buy.

What does this mean for buyers?

Competition is hot with so few homes available for purchase and low mortgage rates are helping to drive affordability as well. Getting pre-approved now will help you gain a competitive advantage and accelerate the homebuying process, so you’re ready to go when you find that perfect home you’d like to buy. Working quickly and efficiently with us will help put you in a position to act fast when you’re ready to make your move.

What does this mean for sellers?

If you’re thinking of selling your house, know that the motivation for buyers to purchase right now is as high as ever with rates where they are today. Selling now before other sellers come to market in your neighborhood this summer might put your house high on the list for many buyers. Homebuyers are clearly in the mood to buy, and with today’s safety guidelines and precautions in place to show your house, confidence is also on your side.

Whether you’re looking to buy or sell, there’s great motivation to be in the housing market, especially with mortgage rates hovering at this historic all-time low. Reach out to us today at 480-788-4118 or send a DM today to make sure you’re ready to make your move.
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June 23, 2020

June 2020 Update – Is it Actually a Good Time to Buy a House Right Now?

June 2020 Update – Is it Actually a Good Time to Buy a House Right Now? I go over this common question in this video.

Video: https://youtu.be/Pm9qIi4m9hw

 



#phoenix #arizonarealtor #phoenixrealtor #realtorlife #housingmarket #housingnews #buyahome #shouldibuyahome #realestatearizona #realestateinvestor #realestateinvestors #realestateinvestment #phoenixazrealestate #phoenixbusiness #phoenixbusinessowner #phoenixblogger #mortgagerates

Posted in Buying a Home
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June 22, 2020

Thank you so much sir, really appreciate the 5 star review! Amazing. Your new home is beautiful

Just saw this, Thank you so much sir, really appreciate the 5 star review! Amazing. Your new home is beautiful

 

#5starreview #5starservice #phoenixrealestate #phoenixaz #phoenixrealtor #arizona #phoenixhomes #homesforsale #phoenixinvestors #realestateinvesting

 

 

Posted in Buying a Home
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June 19, 2020

What is going on with the real estate market? June 2020 news

 

If you think the market is changing in favor of buyers anytime soon and home prices will change for the worse, it isn't. You will never be able to "time the market". It's not possible. Sorry to burst your bubble. With interest rates being at the low 3's/high 2's, there are now even more mortgage applications (up over 27%) AND the supply & demand is sitting at 1.9 absorption rate (it was recently at 2.7). This means we are still at a sellers market advantage. A rate of 6 is "balanced". When we reach a rate of 7, we will see a buyer's market. Average price right now is at $300,000. It was just at $295,000. The FOMC meeting was just conducted and these extremely low Interest rates will remain the same until an estimation of the year 2023.

If you think the market will turn, especially under $400,000, you are mistaken. There are still multiple offers, buyers getting beat out, a large surge of refinance and purchase loan applications, and a huge uptick in homebuyers who are being smart at investing in real estate taking advantage of the bank's low rates. Homeowners have a ton of equity, there is still a chronic shortage of new listings on the market, and extremely low mortgage rates. If you are one of the smart ones who actually take advantage and buy a home now, congratulations, as it will only get worse for you from here on out.

Call or DM us if you have any questions or need advice on investing in real estate. This is our main specialty. I study the market heavily and do weekly real estate market videos you can find on our YouTube channel (link in my

Bio) so that you stay on top of mind as to what's actually going on.

 

Awni and Chantell Abbas - 480-788-4118

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"AWNTEL"

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Realtors specializing in Real Estate Investing

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Sell • Buy • Invest • Multi-Units

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Consider Subscribing to our channel 👉🏼LINK IN BIO 👈🏻

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FOLLOW US at @awntelrealestate

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June 18, 2020

Want to Make a Move? Homeowner Equity is Growing Year-Over-Year

Want to Make a Move? Homeowner Equity is Growing Year-Over-Year.
One of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights Report from CoreLogic, in nearly every state there was a year-over-year first-quarter equity increase, averaging out to a 6.5% overall gain.
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This means that “In the first quarter of 2020, the average homeowner gained approximately $9,600 in equity during the past year.”
That’s a huge win for homeowners, especially for those looking to sell their houses and make a move this summer. Having equity to re-invest in your next home is a major force that can make moving a reality, especially while buyers are expressing such a high demand for homes to purchase.
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Frank Martell, President and CEO of CoreLogic addresses the potential long-term outlook and how homeowners will likely fare much more positively through the current recession than many did during the last one:
“Many homeowners will experience a recession during their lifetime, and it is reasonable to compare the current recession to those in the past. But the comparison is not apples to apples — every recession is different. Primary drivers of the Great Recession were an overbuilt housing stock, risky mortgages and the collapse of home prices, creating a massive increase in negative equity that proved difficult to recover from. Today’s housing environment has low vacancy and delinquency rates and a large home equity cushion.”
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If you’re ready to buy or sell – or maybe both – reach out to us at 480-788-4118 or DM us to put your plans in motion. Now is a great time to consider leveraging your equity and making a move, especially while buyer interest is high. With low mortgage rates leading the way, it’s a great time to take advantage of your position in today’s market.
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Awni and Chantell Abbas
"AWNTEL"
Realtors specializing in Real
Estate Investing
Sell • Buy • Invest • Multi-Units
480-788-4118
Posted in Real Estate News
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