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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

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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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June 2018 RE/MAX National Housing Report

June 2018 RE/MAX National Housing Report

We’re already halfway through 2018 and the housing prices are at record highs, while inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report. June sales were 5.5 percent lower than June 2017 in the fifty-four metro areas surveyed, marking the seventh consecutive month of year-over-year declines.

Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high in the nine-year history of the report. It was 5.1 percent higher than the $245,000 recorded last June, bringing the consecutive months of year-over-year price increases to 27. In each of the previous five years – going back to June 2013’s $193,750 – June has posted the highest Median Sales Price of the year.

“Year-over-year prices have been climbing for more than two years now, which is great news for homeowners and sellers,” said RE/MAX CEO Adam Contos. “In the hottest markets, demand is especially high because there simply aren’t that many homes for sale. The slower sales figures we’re seeing are tied to inventory more than anything else.”

Forty-two of the fifty-four metro areas reported a year-over-year drop in inventory. That years-long trend is reflected in Months Supply of Inventory dropping to 2.7 – down 8.8 percent year-over-year and the smallest figure ever recorded for June. Fewer houses for sale generally results in a faster process: Homes sold in June averaged just forty-two Days on Market – five days less than June 2017 and three days under the previous nine-year low of forty-five days.

“Lack of inventory has become a theme for the year,” Contos said. “Having fewer homes to choose from poses a challenge for buyers, who need to be ready to act decisively and quickly. Working with a full-time, professional RE/MAX agent can prepare them for that.”

To access the housing report infographic, visit: https://rem.ax/2phKHWT or click here to download your copy of the June 2018 RE/MAX National Housing Report. If you are in the market to sell your Phoenix home or thinking about buying a house in Phoenix, 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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My Home Sold in FIVE Days!

My Home Sold in FIVE Days!

Every thirty seconds a RE/MAX agent helps someone find their perfect place. True to the claim, The Voss Team has been proudly serving the Valley since 2001. We are passionate about helping our buyers find that “perfect” property or special investment opportunity. In addition, we are proud to offer state of the art marketing methods to assure our sellers achieve the highest price for their property by gaining the maximum market exposure.

While we place a strong emphasis in the north, central, west and northwest Phoenix valley market areas, we have considerable experience in the east valley communities of Scottsdale, Mesa, Chandler and Gilbert. The Voss Team proudly maintains and continually strives to provide the best real estate experience for our clients. Here’s what one of our valued clients recently shared:

“Roberta is a stellar, top-quality, knowledgeable professional! She knows exactly how to professionally market your home! My home sold in FIVE days! She had excellent information about negotiations back and forth and the experience was quick, fun and with online options – it was WAY EASY! Loved the experience with Roberta! She’s a 10-star agent! Highly recommend her for ANY of your needs – she is well-connected and can help in a myriad of ways.” – Betsy G.

Whether you’re ready to quickly sell your Phoenix home or buy a home in Phoenix or the surrounding areas, the Voss Team is here to guide you through every step of the process. 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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Top 3 Refinancing Hacks to Lower Your Payments

Top 3 Refinancing Hacks to Lower Your Payments

The average conventional 30-year fixed rate mortgage is currently 4.695 percent, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). The 15-year was clocked at 4.371  percent, and the 5-year mortgage is currently 4.791 percent. If you’re thinking about refinancing your home, here are the top 3 refinancing hacks to lower your payments.

  1. Calculate your savings: Before you refinance your home, you have to determine whether or not it will save you money. It’s best to calculate whether a new home loan will save you money based on the time left to pay off your old loan and whether or not you’ll have lower more manageable monthly payments.
  2. Be prepared: Refinancing your mortgage requires a lot of paperwork. Gather your essential documents such as proof of income, tax returns, bank statements and more and keep them all organized together or scanned in a safe online folder. Missing documents will only slow down the refinancing process so the more organized you are, the better.
  3. Perfect your credit: Your credit score plays a huge part in determining what rate you get on your new loan. Before you even apply for refinancing, get a free copy of your credit report and confirm there are no errors that could prevent you from getting the lowest rate possible. Any discrepancies should be addressed as soon as possible before applying and be sure they’ve been cleared up before moving forward.

Have questions about refinancing your home or looking to sell your Phoenix home? Call the Voss Team today for a complimentary assessment of your home’s current value. Our expectation is to make the real estate experience the best it can be for you!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

thevossteam.com

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10 States with the Highest Cost of Living

10 States with the Highest Cost of Living

We all know that housing prices and the cost of living varies from state to state. Factors such as food, transportation, and energy costs can make the difference between paying a $300 A/C bill in Arizona and a $150 A/C bill in Rhode Island. Each year, the Bureau of Economic Analysis publishes data on “regional price parity,” which measures how much a certain amount of money can purchase in different places. A high price parity number means goods and services cost more for residents, and a price parity of above 100 means locals pay more for things than the national average. Here are the 10 states with the highest cost of living in descending order, according to their most recent analysis.

10.) New Hampshire

Regional Price Parity score: 105,

Median Household Income: $70,303

Actual Value of Salary: $66,955

Residents can expect to pay almost 5 percent more than the national average cost of living.

9.) Alaska

Regional price parity score: 105.6

Median household Income: $73,335

Actual Value of Salary: $69,465

Residents can expect to pay almost 6 percent more than the national average cost of living.

8.) Massachusetts

Regional Price Parity Score: 106.9

Median household income: $70,628

Actual Value of Salary: $66,069

Residents can expect to pay almost 7 percent more than the national average cost of living.

7.) Connecticut

Regional Price Parity Score: 108.7

Median household income: $71,346

Actual Value of Salary: $65,636

Residents can expect to pay almost 8.7  percent more than the national average cost of living.

6.) Maryland

Regional Price Parity Score: 109.6

Median household income: $75,847

Actual Value of Salary: $69,203

Residents can expect to pay almost 10 percent more than the national average cost of living.

5.) New Jersey

Regional Price Parity Score: 113.4

Median household income: $72,222

Actual Value of Salary: $63,688

Residents can expect to pay almost 13.4 percent more than the national average cost of living.

4.) California

Regional Price Parity Score: 113.4

Median household income: $64,500

Actual Value of Salary: $56,878

Residents can expect to pay almost 14 percent more than the national average cost of living.

3.) New York

Regional Price Parity Score: 115.3

Median household income: $60,850

Actual Value of Salary: $52,775

Residents can expect to pay almost 15 percent more than the national average cost of living.

2.) Washington D.C.

Regional Price Parity Score: 117

Median household income: $75,628

Actual Value of Salary: $64,639

Residents can expect to pay almost 17 percent more than the national average cost of living.

1.) Hawaii

Regional Price Parity Score: 118.8

Median household income: $73,486

Actual Value of Salary: $61,857

Residents can expect to pay almost 19 percent more than the national average cost of living.

Did your state or hometown make the list for 10 States with the Highest Cost of Living? Where do you think your state stacks up? If you’re looking for affordable living costs and want to sell or buy a home in Phoenix, 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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4 Fourth of July Safety Tips

4 Fourth of July Safety Tips

Summer, swimming and 4th of July BBQ’s go hand and hand here in Phoenix. So whether you’re planning on traveling for Independence Day next Wednesday, or enjoying various outdoor activities like boating, camping or picnics, safety is the most important factor to remember during this fantastic holiday. Remember these 4 Fourth of July safety tips before you celebrate!

1.) BBQ’s: The 4th of July is one of the top holidays for outdoor BBQ’s and cookouts. In regards to fire safety, never use gasoline to start BBQ grills. For food safety, bring separate plates and cutting boards for raw and cooked foods so that juices from raw meat don’t contaminate meat that’s ready to be eaten. Also bring cleaning items with you to keep hands, utensils and surfaces clean.

2.) Camping: If you are camping, be sure to check the regulations on fires. Many areas may be closed to all fires (including charcoal grills) due to extreme dry conditions. If campfires are allowed never leave a fire unattended, and always be sure it is dead out when you leave.

3.) Fireworks: Nearly 10,000 Americans are injured by fireworks each year, according to the United States Fire Administration. New firework regulations that took effect last year in Arizona are intended to monitor when, where and what fireworks can be used in Maricopa and Pima counties. Arizona legal fireworks include: Snappers, devices with cylindrical and cone foundations, illuminating torches, ground spinners, sparkling wheels, snap caps, glow worms, snakes, party poppers, toy smoke devices and sparklers are all allowed. Not sure if the fireworks you have are legal? Click here to find out. If you plan to enjoy legal fireworks this 4th of July, always have a bucket or water or a fire extinguisher nearby.

4.) Travel: July 4th is statistically the most dangerous holiday to be driving on the road. According to The Advertiser, 410 people were killed nationally in motor vehicle crashes during the Fourth of July weekend in 2009 and forty percent of those deaths were related to alcohol-impaired and/or sleep deprived drivers. Please remember to not drive intoxicated, get plenty of sleep before driving, and always wear your seatbelt.

Regardless of how you choose to enjoy your holiday, The Voss Team wishes you a safe and Happy 4th of July!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

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May 2018 RE/MAX National Housing Report

May 2018 RE/MAX National Housing Report

Homes sold faster in May than at virtually any other time in the past decade, according to the latest RE/MAX National Housing Report. Low inventory and high demand in May cut Days on Market to 46, the second-lowest monthly number in the nearly 10-year history of the report.

May home sales topped April sales by 14.5 percent, and were down by 2.8 percent from May 2017. The median sales price of $251,673 was up 7.8%. To access the housing report infographic, visit: https://rem.ax/2phKHWT.  By comparison, homes averaged five more days on the market (51) in May 2017, 12 more days (58) in May 2016 and 18 more days (64) in 2015.

“Even with low inventory and the Federal Reserve raising interest rates, homes are going from ‘for sale’ to sold 28 percent faster than three years ago,” said RE/MAX CEO Adam Contos. “Be prepared — that’s my message to potential homebuyers in this summer selling season,” added Contos. “Make sure you are pre-approved with a lender, try to make a clean offer with no contingencies and, if possible, consider offering favorable concessions to the seller such as a flexible closing date. Pairing today’s real estate technology with the guidance of a professional RE/MAX agent, can help you find the right home.”

With eleven metro areas increasing the median sales price year-over-year by double digits, May is still a seller’s market, and homebuyers should expect to compete with other buyers when they are ready to make an offer on a home. The average Days on Market for homes sold in May 2018 was 46, down six days from the average in April 2018, and down five days from the May 2017 average. The number of homes for sale in May 2018 was up 4 percent from April 2018, and down 9.5 percent from May 2017.

Based on the rate of home sales in May, the Months Supply of Inventory remained unchanged from April 2018 at 2.5, and slightly decreased compared to 2.6 in May 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In May 2018, all 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 about the current real estate market? Click here to download your copy of the May2018 RE/MAX National Housing Report. If you are ready to sell your Phoenix home or thinking about buying a Phoenix home, 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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