Buying a Home Less Expensive than Renting – by 38%!

by The KCM Crew on March 12, 2014 in For Buyers

Trulia released their Rent vs. Buy Report last week. The report explained that homeownership remains cheaper than renting in all of the 100 largest metro areas by an average of 38%!

The other interesting findings in the report include:

• Even though prices increased sharply in many markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting.
• Some markets might tip in favor of renting this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.
• Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.

Buying a home now makes sense. You can lock in a mortgage payment before home prices and mortgage rates rise as experts expect they will. If you rent, your housing expense will only continue to increase.

To find out more about buying a home in Chandler Arizona, please contact The Ryan-Whyte Team at RE/MAX Infinity.  We are top Chandler real estate agents.  You can reach us at 480-726-7000 or by completing the form below!

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Equity Situation Improving Nationwide

by The KCM Crew on March 10, 2014 in KCM Updates

Last week, CoreLogic released their 2013 4Q Home Equity Report. The report revealed the following:

• 4 million residential properties regained equity in 2013
• An additional 1.2 million properties would regain equity if home prices rose another 5%
• There are still 6.5 million properties in negative equity
• The percentage of homes with a mortgage in negative equity is 13.3%
• Another 10.4 million properties have minimal equity (less than 20% home equity)
• The average loan-to-value ratio is 62%

Remember, there is a pent-up selling demand created by homeowners being unable to sell their home over the last several years because the value of the home was less than the mortgage amount.

As more and more homeowners reach positive equity, the number that will decide to list their house for sale will increase. There is an opportunity for the true real estate professional to help families that are considering a move.

Chandler Arizona Real Estate Agents Attend RE/MAX R4 in Las Vegas

Last week, Bill Ryan, Cory Whyte and Kerri Wade attended the RE/MAX convention, aka R4, in Las Vegas.  Wow!  What a week!  The speakers, classes and networking were awesome and the fun times spent with friends old and new and the other five RE/MAX agents from our office were priceless.

On day one, we were treated to two fabulous keynote speakers, Darren Hardy, the publisher of Success Magazine, and Simon Sinek, the author of “Start With Why”.  Darren challenged us to identify what is holding us back and to use our so-called “adversity” to our advantage.  We must stop looking for the quick fix because success is earned by hard work.  “It’s not what you know, it is only what you do with what you know that matters,” he coached.  Several in our group purchased his book, The Compound Effect.

On day two, we got to experience the magic of Earvin “Magic” Johnson.  If you’ve ever thought he was only about basketball, you would be very wrong.  This man has become the most powerful African-American business man in America, and his words and works are inspiring. Know your customer, over deliver, you can do good and do it well, understand the problem first and then create a solution… just a few of the great tips we learned.  Following Magic was Jean Chatzky.  Jean is a journalist, best-selling author, and the financial editor on the NBC Today Show.  Our group totally took to heart one of her lovely pieces of advice: “Spending money on experiences make us happier than spending money on things.”  We took that advice to heart and experienced the ice bar at the Mandalay Bay!  It was a fantastic experience!

All in all, Bill, Cory and Kerri were able to pick up some new ideas and share some of their ideas with their RE/MAX family around the world.  This contributes to our ability to serve our clients even better, and the bottom line is, that’s what we are all about.

By Bill Ryan, RE/MAX Infinity, Chandler Arizona Real Estate Agent, The Ryan-Whyte Team.  You can reach The Ryan-Whyte Team at 480-726-7000 or visit our website at http://www.chandlerocotillo.com

Bill Ryan

Cooper Commons Home for Sale! 2182 E Palm Beach Dr, Chandler AZ 85249

Cooper Commons Home for Sale! 2182 E Palm Beach Dr, Chandler AZ 85249

This is pretty good news for a Monday morning

This is pretty good news for a Monday morning.  After two weeks of upward movement, mortgage interest rates fell last week.  This is good news for the Phoenix real estate market!

http://ow.ly/r9Wqi #realestate #interestrates #mortgage

Buying or Selling a Home During The Holiday Season Can Be Advantageous

“WHAT?”, you say.  “Has Bill gone and lost his mind?  Everyone knows that no one wants to go through that right now.  The buyers are all hibernating for heaven’s sake!”

Yes, yes, yes.  I know that’s the common perception when it comes to buying and selling homes during the holidays.  But I am here to tell you that there are many advantages to selling and buying right now.

First of all, you’re not the only one who thinks now is a bad time to sell a home.  Most people believe the same thing.  That is why the number of new listings drops every year during November and December.  But here’s the deal… as a seller, you have LESS COMPETITION.  As a buyer, you have LESS COMPETITION!  Let’s face it, no one really wants to move during the holidays, but some people have to move during the holidays.  You won’t be inundated with looky-loo’s.  They’re all at the mall.  And buyers have the advantage of looking at houses that aren’t on the market “just to see if something happens”.  They know they are working with sellers that are truly interested in selling.

And guess what happens as soon as the holidays are over, typically about the middle to end of January?  Everyone decides to list their house!  Everyone decides to buy a house!  Hello competition.

Here’s another plus:  lenders, title companies, home inspectors, and appraisers are not as busy during the holiday season.  Things get done faster!  Chances are they’ll all be able to work with your time line and there won’t be as many frustrating delays.

The big price changes are over for now, in my opinion.  Home values will appreciate at a much more normal pace.  Our market has reached a nice, balanced state.  Waiting until next spring to sell your home probably won’t net you a huge amount more, and if you’re selling a home and planning to buy another, there’s a good chance you may pay a higher interest rate by then.

If you know you are ready to move on with your life, there’s no reason to wait.  I’m about to start my 40th year in the real estate business and I can tell you that trying to predict when the best time to sell or buy is like nailing Jell-o to a wall.  You just have to do what is right for you and what moves you to the next part of your life and where you want to be.

If you would like to discuss whether now is the time for you to buy or sell a home in the Chandler area, give me a call today.  I’ve always been honest with you and if I don’t think it’s in your best interest, I will tell you that.  I’ve spent my career making clients for life and I’m not about to stop now.

Bill Ryan, The Ryan-Whyte Team at RE/MAX Infinity Chandler Arizona. (480) 726-7000 or cell (480) 694-7733.  Visit my website to browse the MLS or to get an estimate of your home value at http://www.chandlerocotillo.com or check out our video to find out more about who we are and how we work including what our clients have to say about us at http://www.youtube.com/watch?v=AFDkofIZWKA&feature=youtu.be

– See more at: http://activerain.com/blogsview/4254415/buying-or-selling-a-home-during-the-holiday-season-can-be-advantageous?share_opt=1#sthash.qNxCbHU6.dpuf

Update on the Phoenix and Chandler AZ Real Estate Market

The latest from The Cromford Report:

The contract ratio for all areas and types plummeted from 90.5 on June 17 to 37.2 on November 2, going from hot to tepid at the same time. However it has hardly moved since November 2, standing at 37.8 today. It appears that prices have moved upwards far enough to stabilize the market and at the moment there is no further cooling taking place. At the current contract ratio there is little pressure for prices to move either up or down, but sales prices are likely to continue to rise for a couple of months based on previous momentum.

If they reach $131 per square foot, which seems quite likely, then this is the point at which house prices will have almost exactly matched CPI inflation rates for the last 13 years. This therefore seems like a very legitimate place to cool off and resume normal market behavior. No bubble here.

You can read the daily updates for Phoenix real estate from The Cromford Report on our website by clicking here.  Be sure to bookmark the page and visit often!

By Bill Ryan, The Ryan-Whyte Team at RE/MAX Infinity, 480-726-7000.  We specialize in residential real estate in the Southeast Phoenix and Chandler real estate markets.

– See more at: http://activerain.com/blogsview/4253347/update-on-the-phoenix-and-chandler-az-real-estate-market#sthash.60ZAmsT5.GLQdX3tT.dpuf

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