Sales Increase Despite Record Prices and Sinking Inventory

Sales Increase Despite Record Prices and Sinking Inventory

July home sales rose 1.8 percent year-over-year, making it the second month of 2018 to post a sales increase year-over-year, according to the RE/MAX National Housing Report. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

In the July 2018 report, 37 of the report’s 54 metro areas posted sales increases over July 2017—April was the first month of 2018 where more homes were sold than the same month in 2017. The report also marks the 28th consecutive month of year-over-year price increases.

The Median Sales Price of $250,575 was up 4.4 percent from July 2017, and represents the third-highest price in report history—topped only by May and June of this year. Months Supply of Inventory was at 2.9 – the smallest total ever recorded for July.

Forty-two of the 54 metro areas reported a year-over-year drop in inventory. The Days on Market dropped to 41 – four days less than July 2017 and one day under the previous nine-year low set in June 2018.

“Because we’ve faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead,” said RE/MAX CEO Adam Contos. “It could level affordability to some extent and create more opportunity for buyers who’ve been priced out of hot markets.”

The average Days on Market for homes sold in July 2018 was 41, down one day from the average in June 2018, and down 4 days from the July 2017 average. The number of homes for sale in July 2018 was down 0.3 percent from June 2018, and down 7.8 percent from July 2017. Based on the rate of home sales in July, the Months Supply of Inventory increased to 2.9 from 2.7 in June 2018, and decreased from 3.1 in July 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In July 2018, all but one of 54 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market.

Want to know more? Click here to download your copy of the July 2018 RE/MAX National Housing Report. If you are looking to sell your Phoenix home or are ready to buy a home in Phoenix and the surrounding areas, please contact The Voss Team today.

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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5 Fast Ways to Improve Your Credit Score for Home Buying

5 Fast Ways to Improve Your Credit Score for Home Buying

Want to buy a home but know your credit score needs work? You’re not alone. The average credit score in the U.S. is 695 according to the AAA Credit Guide, which is considered to be fair on a scale of 300 to 850. Our credit report tells a financial story of us as payers of debt, and it has a long memory. A low credit score means that you will be charged a much higher interest rate when you apply for a home loan. Additionally, you may be required to contribute a much larger down payment of cash. Finally, if your score is very low, you might simply be denied altogether, although virtually every mortgage company now has special programs designed to help those with bad credit get loans for home purchases.

Because your credit score affects everything from qualifying for a car loan to, in some cases, qualifying you for employment, it makes since that having the best score will help you obtain your real estate goals. Here are 5 fast ways to improve your credit score for home buying.

  1. If you have any collections or judgments against you, pay them off as quickly as possible.
  2. Pull your credit report at least once a year to review any discrepancies.
  3. Pay all your bills on time by utilizing payment reminders or automatic bill pay options.
  4. Don’t close your credit card accounts because then you’ll be using a higher percentage of your overall credit limit.
  5. Try to reduce your credit card debt to twenty-five percent or less of your credit line on each card.

The sooner you begin implementing these fast 5 ways to improve your credit score, the easier it will be when it’s time qualify for a home loan. If you’re ready to buy a home in Phoenix or if you’re ready to sell your Phoenix home, please contact The Voss Team today to assist you with your real estate needs! Contact us today for a knowledgeable and unforgettable real estate experience!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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Picture-Perfect Cape Cod Style Home for Sale in Gilbert

Picture-Perfect Cape Cod Style Home for Sale in Gilbert

Home Sweet Home! Walk through the charming wrought iron entry gate into a beautifully manicured yard facing a picture-perfect Cape Cod style home right here in Gilbert, Arizona. Walk along the brick pavers toward the inviting porch and you will begin to feel the warmth this home has to offer. This is a stunning estate that showcases modern elegance in every room. The floor plan features rooms for numerous activities including a gym for daily workouts, a children’s play/education space with lots of natural light, a music room, both formal and informal dining spaces, 7 bedrooms (most ensuite) in a split format between the two wings of the home, plus a great room and open kitchen that is perfect for entertainment and family gatherings.

Circle around the prominent and appealing island in the kitchen, surely all who come to visit will do just that. It is perfectly attuned for gatherings with its placement, seating and lighting. So many opportunities to put this space to enjoyable use from setting trays of hors d’oeuvres at the big party or afternoon snacks for the kids; breakfast; homework; or wine and cheese with friends – naturally, the 14 shelf, 120-bottle wine refrigerator/cooler is within reach just for such an occasion. The accompanying appliance selection rounds out the grandeur of this space such as the side by side Sub-Zero refrigerator; a 6-burner gas stove top with griddle; full-size double ovens; independent ice maker; and convenient dual dishwasher.

Our owner’s suite is a true retreat. Imagine breakfast in bed reading the newspaper and gazing out the bay window to your park-like backyard as you casually rise for the day; or consider selecting your favorite novel from the built-in library and spending a relaxing afternoon reading; or, end the day cozied up to the fireplace with a nice glass of wine. Throughout the home you will see the other hidden treasures that make life a pleasure at this home such as the Savant Sound System; the walk-in butler pantry with prep space and additional refrigerator, shelving and drawer space for all the daily and special essentials; the well-appointed laundry room designed for all your cleaning needs; custom built out closets in all rooms; a steam shower in the owner’s suite; a brick accented fireplace aside the ladder accessible bookcase in the family room; mudroom essentials are located along the connector hall between the two wings of the home and include bench seating, wall hooks, and concealed storage; and do not miss out on the various pet spaces for the 4-legged creature comforts as well.

The new homeowner will also benefit from energy efficient additions such as the Nest thermostats for programable control of the 3 zoned HVAC systems; the 12kw solar installation, 240v charging station for the electric vehicles; the R-43 Anderson windows; solar tubes for natural lighting; and irrigation rights for the property and maintenance of the many fruit, citrus and shade trees. The outdoor living space is as wide-ranging in features as the interior spaces: enjoy the outdoor sound system as you swim in the beautiful pebble sheen pool or enjoy time in the jacuzzi spa; sit around the fire pit or practice your putting at the 3-hole putting green; if gardening is your forte, your gardening shed awaits; but the best way to see the property is on a stroll around the garden path – to enjoy all this property has to offer.

If you’d like to schedule a private showing of this picture-perfect Cape Cod style home for sale in Gilbert located at 885 E Elgin St, Gilbert, AZ 85295 then please contact The Voss Team today!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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RE/MAX Professionals Celebrates August as the Month of Miracles 

RE/MAX Professionals Celebrates August as the Month of Miracles 

Giving back is a priority in the RE/MAX culture. All over the world, RE/MAX agents make a difference in their communities – volunteering, donating money, contributing time and ultimately changing lives.

Children’s Miracle Network Hospitals (CMN Hospitals) raises funds and awareness for 170-member hospitals that provide 32 million treatments each year to kids across the U.S. and Canada. Donations stay local to fund critical treatments and healthcare services, pediatric medical equipment and charitable care.

We are excited to announce that our offices will be participating in our fourth annual “Month of Miracles” throughout the month of August. This is a month-long fundraising event is designed to raise much-need money to support our local Phoenix Children’s Hospital as well as raise awareness in our community.

“Children’s hospitals depend on local donations — like those from RE/MAX agents participating in Miracle Home and Miracle Property programs — to provide the top-of-class care kids deserve,” said John Lauck, president and CEO of Children’s Miracle Network Hospitals. “On behalf of the millions of families impacted by RE/MAX donations, we appreciate each agent’s efforts and thank them for truly making miracles happen in their communities all year long.”

Last year our Month of Miracles event raised over $15,000 and our office made a total contribution to Phoenix Children’s Hospital of $44,160.20! We were recognized by RE/MAX LLC for being the highest contributing office in the Southwest Region (Arizona, Nevada and New Mexico) to the Children’s Miracle Network, and our local Phoenix Children’s Hospital!

Each donation helps fund pediatric medical equipment, treatments, charitable care and other healthcare services for local CMN hospitals. As the contributions continue to grow, we are able to aid a larger number of sick and injured children – which is something we take great pride in being able to do for our community.

Please help us reach out goal of ONE MILLION PENNIES for the “Month of Miracles” in August, 2018. You can drop by any one of our four offices to participate in our fundraising efforts, or contact the Voss Team and we will be happy to pick up your donation.

On behalf of all the kids at Phoenix Children’s Hospital, we thank you in advance for your support in helping us achieve this goal for our community!

Sincerely,

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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