Tuesday, May 19, 2015

3 Things to Think About Before Going FSBO

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3 Things to Think About Before Going FSBO

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Quick: Off the top of your head, what can a real estate agent do to sell a house that you can't do?

"Frankly, I don't think a Realtor® does much that I can't do myself," a New Jersey homeowner told CBS News. After all, real estate agents just stick a sign in the yard, hold an open house or two, and fill out a couple of papers, right? Since you, too, can perform these duties, why not sell the house yourself and keep the commission money?

This is a fallacy many Americans operate under when judging the job of a real estate agent. Keep in mind that lots of jobs look easy when you aren't the one performing them.

Before you decide to plunge head-on into the world of the For-Sale-By-Owner, here are there key points you may want to consider.

3 Things to Think About Before Going FSBO

1. Getting the Price Right
When the National Association of Realtors® surveyed FSBOs about what challenges they faced when attempting to sell their homes without the aid of a real estate professional, 13 percent said that setting the right price was a key challenge.

What is the "right" price? A home should be priced at or very near its market value. Therein lies the challenge – how does a layperson determine a home's current market value? The calculations require access to recent sales in the area, information about those homes, and information about the current real estate market in general.

Without access to the Multiple Listing Service (MLS), it is nearly impossible for anyone to gather info on all recent home sales in a given area. Although many websites claim to have this information, they are relying on public records, and most of the time they don't have all of the information required to pinpoint market value.

Would you sell a used car without consulting the Kelley Blue Book, or something similar, to ascertain its worth? Without knowing the true market value of your home, setting a price for it is akin to throwing a dart – where it lands may or may not be the bulls-eye.

2. Getting the Word Out
One of the most important jobs of a listing agent is marketing the property. Once upon a time, all it took was an ad in the Sunday classifieds. Today, however, it requires a lot more work, and multiple marketing platforms – especially for homes with problems.

Homebuyers begin their search online, and that's where real estate agents shine in their marketing efforts. They employ multiple strategies across multiple platforms – something a homeowner with no real estate or marketing experience may find challenging.

3. Getting a Handle on the Paperwork
Understanding and completing paperwork is the one task of selling a home that stymied the largest number of FSBOs in the NAR survey. From the purchase agreement to how to deal with changes to disclosure requirements, the typical home sale requires a stack of legal contracts that few outside of the industry know anything about.

You will need to familiarize yourself with all contracts, reading and understanding every single line. Otherwise, when a buyer submits an offer to purchase, you may end up sitting there with a glazed look on your face and no idea how to decipher the pages in front of you.

Get more Real Estates tips at SweeEastValleyHomes.com

Swee Ng, Realtor with Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us.

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Monday, May 18, 2015

The 6 Steps to Securing a Home Loan when buying home in Phoenix AZ

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The 6 Steps to Securing a Home Loan when buying home in Phoenix AZ

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From the word "mortgage" to the methods used by lenders to determine how much to loan, the home loan process can be confusing to first timers. In fact, one third of the respondents to a 2011 Wall Street Journal survey of homebuyers said that the most difficult part of buying a home was understanding the loan process.

It can also be quite stressful, especially when you've got your eye on a cute Craftsman bungalow and are waiting on pins and needles to learn if you qualify to purchase it.

Let's take a look at the conventional home loan process, from start to finish. Here's a breakdown of the process in six steps to help you get a better understanding of it. (Please note that VA loans, FHA and USDA loans are a bit different.)

The 6 Steps to Securing a Home Loan when buying home in Phoenix AZ

Step 1: Loan Application and Pre-Qualification
You've no doubt read and heard that you'll need to be pre-approved for a home loan before you start looking at homes for sale. Don't skip this step – it's probably the most critical one in the homebuying process.

A common question is: "How do I find a lender?" Start with your bank or credit union, especially if you have a business or personal relationship with the manager. If not, ask your real estate agent – he or she most likely knows of several that you can speak with and compare rates.

The first thing you'll do when you visit a lender is fill out a loan application. This is only an application; it doesn't obligate you to any particular loan or to use that lender.

You will be asked to provide the following information:
  • Name and address
  • Date of birth
  • Social Security number
  • Current and past employers
  • Income
  • List of assets
  • List of debts
The loan officer will order your credit report and, along with the information in your application, it will help paint your financial picture and determine how much money you qualify to borrow.

Lenders use a debt-to-income ratio, or DTI, to make this assessment. You can calculate your DTI by adding up all your monthly debt payments and dividing them by your gross monthly income (your income before taxes).

This is a simplistic look at your DTI because lenders actually calculate what they call a "front-end ratio" and a "back-end ratio." The calculation above will help you determine your back-end ratio. To determine your front-end ratio, the lender will take your housing expenses and divide them by your monthly before-tax earnings, and multiply that figure by 100.

A rule of thumb is that lenders are satisfied with a front-end ratio that doesn't exceed 28 percent and a back-end ratio of 36 percent or lower – but it may vary according to the borrower's down payment, credit score and savings. At this point, the lender knows what size loan to offer you and you are now, hopefully, pre-qualified for a mortgage. Keep in mind: This is not a commitment from the lender as it's based purely on information in the loan application and your credit report.

Tip: Don't make any changes to your financial picture from this point until the close of escrow on your new home. Even what you may consider to be insignificant purchases can change your DTI ratio and possibly disqualify you for the loan.

You might also like to read:
How time buy a home with low down payment in Phoenix AZ

Step 2: Initial Underwriting
The loan agent will now collect documentation to prove all the information you stated on the loan application, and will create your file and submit it to the loan processor.

This person organizes all the documentation and sends it to the underwriter – the most important person in the process. The underwriter goes over all the paperwork with a fine-tooth comb, checking to ensure that guidelines are met. He or she will also make a list of additional documents you'll need to submit to complete your file.

If everything falls into place, you will be conditionally approved for the loan.

Step 3: Approval of the Property
Everything comes to a halt at this point, until you make an offer to purchase a home. If the offer is accepted, the wheels of the loan machine begin turning once again.

The lender needs to know all it can about this particular property, and will obtain most of this information from the title report. The report documents the findings of a search of the property's title and details info about the current title holder, if any liens are on the property and any irregularities in the chain of title. A clean title report allows the lender to safely attach a lien on the property, in order to use as collateral should you default on the loan.

The second report that the lender will order (and the buyer will pay for) is the appraisal. The appraisal determines current market value of the home so the lender can be assured it isn't lending more money than the home is worth.

Step 4: Final Approval
The title report, appraisal, and any documentation you've submitted after the initial underwriter examination now go back to the underwriter for final approval. The underwriter will either sign off on the loan or ask for more information. It's at this point that you'll run into trouble if you've made any recent large purchases or opened any new credit accounts.

Hopefully, you followed the advice here and the underwriter approves that the loan is "ready to fund."

Step 5: Loan Documents Sent to the Title Company
When your file is cleared to close, the funding department drafts the closing paperwork and sends it to the closing facilitator. Depending on where you live, this might be an escrow company, a real estate attorney or title company.

The closing facilitator packages up all the other closing documents, such as the deed of trust and HUD statement.

Step 6: Closing Time
At closing, you'll be presented with lots of paperwork to sign and a notary will notarize many of them. These will be sent back to your lender, who will then fund the loan and escrow will officially close.

Finally, grab those keys and move in!

Get more Real Estates tips at SweeEastValleyHomes.com

Free Gilbert AZ MLS Home search


Swee Ng, real estaet agent with Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us.

Friday, May 15, 2015

Phoenix AZ Housing Market Update April 2015

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Phoenix AZ Housing Market Trends April 2015

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Ahwatukee, Chandler, Gilbert, Mesa & Tempe
Single Family Home
Median Sold Price (April 2014 - April 2015)

Phoenix Housing Market Trends April 2015
  • Active Listing (Inventory) in Ahwatukee, Chandler has Gilbert has Increased from March 2015
  • Median Sold Price in Ahwatukee, Chandler, Gilbert, Mesa & Tempe has Increased from March 2015
  • Number of Homes Sold Ahwatukee, Chandler, Gilbert & Tempe has Increased from March 2015
  • Overall DOM (Days on Market) has Decreased except in Gilbert from to February 2015
  • Observation: For homes for sale that are listed under $300,000, it is Seller's Market.
Ahwatukee, Chandler, Gilbert, Mesa, Tempe Housing Market Trends April 2015

April 2015 Phoenix Housing Market Trends & Statistics
Ahwatukee Chandler Gilbert Mesa Tempe
New 195 519 697 718 163
Pending 87 268 386 431 95
Sold 168 382 492 603 123
Current Active 408 1,030 1,266 1,485 285
Median Sold Price compare to last month +1.7% +3.1% +1.4% 0 +2.1%

As 4/1/15. source armls. Information is deemed to be reliable, but is not guaranteed.


You might be interested:
Ahwatukee Real Estate Housing Market Trends April 2015
Chandler Real Estate Housing Market Trends April 2015
Gilbert Real Estate Housing Market Trends April 2015
Mesa Real Estate Housing Market Trends April 2015
Tempe Real Estate Housing Market Trends April 2015

Affordable Financing Options Available for Buying Home in Phoenix AZ
Several low down payment financing options including; FHA 3.5% 0.5% Down Financing, Conventional 3% Down Payment, Down Payment Assistance Program, VA ZERO Down Financing, Conventional Financing and others are available. Contact Us to find out what loan programs you qualify for. Learn more about how to buy a house in Phoenix AZ with a low down payment.

View Ahwatukee Homes for Sale
View Chandler Homes for Sale
View Gilbert Homes for Sale
View Mesa Homes for Sale
View Tempe Homes for Sale



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Free Phoenix AZ MLS Home Search



Selling Your Home in Phoenix, Arizona?
Contact Us or call Swee Ng, Phoenix Real Estate Agent at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your Home is worth at today’s market.
What's My Phoenix Home Worth? 
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Swee Ng, Realtor with Keller Williams Realty, specialize in Residential Resale, First Time Home Buyer and Investment Homes.
If you are looking to buy or sell your home in Phoenix AZ, we hope you will consider us.

Tempe AZ Housing Market April 2015 Market Trends

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Tempe AZ Housing Market April 2015 Market Trends

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April 2015 Tempe AZ Real Estate Market Highlight:
  • Active listing (Inventory) has Decreased 1.0% from March 2015
  • Average Sold price has Increased 4.2% from March 2015
  • 96% of Single Family Detached Homes sold are Traditional Sale
  • Most expensive home sold in April 2015 in Tempe was sold for $1,080,000 Click here to view
Tempe AZ Housing Market Trends April 2015

Here are Tempe AZ Real Estate – Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Tempe AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 18.3% increase in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 123 residential Single Family Detached Homes sold in April 2015 in Tempe compared to 104 in March 2015. This compares to 114 closed sales in April of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes for sale.

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Tempe AZ is $293,338. This Average Sold Price has increased 4.2% from March 2015. This is because most expensive home sold in April 2015 was sold at $1,080,000 compare to March, was sold for $761,250. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be high.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.

What's My Tempe AZ Home Worth?
Click here to Find Out Your Tempe AZ House Value Instantly

View your house value instantly for free


See Homes for Sale in Tempe AZ by Price Range:
Tempe Homes for Sale Under $200,000
Tempe Homes for Sale $200,000 - $300,000
Tempe Homes for Sale $300,000 - $400,000
Tempe Homes for Sale $400,000 - $500,000
Tempe Homes for Sale $500,000 - $750,000
Tempe Homes for Sale $750,000 - $1,000,000
Tempe Homes for Sale Over $1,000,000

See Homes for Sale in Tempe AZ by zipcode:
Homes For Sale in Tempe 85281
Homes For Sale in Tempe 85282
Homes For Sale in Tempe 85283
Homes For Sale in Tempe 85284


Free Tempe AZ MLS Home search

Swee Ng, Realtor Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in TempeAZ area, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

Gilbert AZ Housing Market Update April 2015

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Gilbert AZ April 2015 Housing Market Update and Statistics

Gilbert AZ April 2015 Real Estate Housing Market Trends Highlight:
  • Active Listing (Inventory) has Increased 6.4% from March 2015
  • Average Sold Price has Decreased 2.0% from March 2015
  • 80% of Single Family Homes sold are Traditional Sale
  • Most Expensive House Sold in Gilbert AZ March 2015, sold at $945,000. click here to view
Gilbert AZ Real Estate Housing Market Trends April 2015
Here are Gilbert AZ Real Estate - Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Gilbert AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 15.0% increase in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 492 residential Single Family Detached Homes sold in April 2015 in Gilbert AZ compared to 428 in March 2015. This compares to 400 closed sales in March of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes for sale.

You might be interested:
How to buy a house in Phoenix AZ for low down payment?

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Gilbert AZ is $284,994. This Average Sold Price has decreased 2.0% from March 2015. This is because Gilbert most expensive home sold in March 2015 was sold at $1,115,000 compare to $945,000 in April 2015. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be high. This statistic is an indicator that buyers pay more for homes than they have in the past 12 months, as April 2014 average sold price was $276,975. Educated and savvy buyers understand that a competitive market gives them fewer options for home choices – even when inventory increases. Although this may vary from zipcode to zipcode and from price range to price range, buyers need to make sure they are fully informed regarding the specific market in which they have an interest. This will give them the best chance of being competitive when making an offer.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.

Selling Your Home in Gilbert AZ?
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Gilbert AZ Home Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market. You can view your house value instantly at www.GilbertAZHouseValue.com

Swee Ng, is a Gilbert AZ resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

TXT AZ246 to 32323 to Download my mobile apps

Gilbert AZ Homes for Sale:
Gilbert New Homes (New Build) for Sale
Gilbert New Listing Homes for Sale
Gilbert Just Reduced Price Homes for Sale
Gilbert AZ Homes for Sale Under $100,000
Gilbert AZ Homes for Sale $100,000 – $200,000
Gilbert AZ Homes for Sale $200,000 – $300,000
Gilbert AZ Homes for Sale $300,000 – $400,000
Gilbert AZ Homes for Sale $400,000 – $500,000
Gilbert AZ Luxury Homes for Sale $500,000 - $750,000
Gilbert AZ Luxury Homes for Sale $750,000 - $1,000,000
Gilbert AZ Luxury Homes for Sale Over $1,000,000

View Gilbert AZ Homes for Sale by zipcode:
View All Homes for Sale in Gilbert AZ 85233
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Thursday, May 14, 2015

Mesa AZ Housing Market Trends April 2015

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Mesa AZ Housing Market Trends April 2015

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April 2015 Mesa AZ Real Estate Market Highlight:
  • Active listing (Inventory) has Increased 0.3% from March 2015
  • Average Sold price has Decreased 2.2% from March 2015
  • 94% of Single Family Detached Homes sold are Traditional Sale
  • Most expensive home sold in April 2015 in Mesa was sold for $1,320,000 Click here to view
Mesa AZ Housing Market Trends April 2015
Here are Mesa AZ Real Estate – Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Mesa AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 1.6% decrease in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 603 residential Single Family Detached Homes sold in April 2015 in Mesa compared to 613 in March 2015. This compares to 628 closed sales in April of last year.

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Mesa AZ is $233,002. This Average Sold Price has decreased 2.2% from March 2015. This is because there are only 17 homes that are over $500,000 sold in April 2015 compare to 22 in March. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be high.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.

Thinking of Selling Your Home in Mesa AZ?
Contact or call Swee Ng at 480.721.6253 today to discuss your potential Mesa AZ House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

What's My Mesa AZ Home Worth? 
Click here to Find Out Your Mesa House Value Instantly
Click to view your house value instantly

See Homes for Sale in Mesa AZ by Price Range:
Mesa Homes for Sale Under $100,000
Mesa Homes for Sale $100,000 - $200,000
Mesa Homes for Sale $200,000 - $300,000
Mesa Homes for Sale $300,000 - $400,000
Mesa Homes for Sale $400,000 - $500,000
Mesa Homes for Sale $500,000 - $750,000
Mesa Homes for Sale $750,000 - $1,000,000
Mesa Homes for Sale Over $1,000,000
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Swee Ng, Realtor Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Mesa AZ, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

Wednesday, May 13, 2015

Chandler AZ Housing Market Update April 2015

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Chandler AZ Housing Market Trends April 2015

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April 2015 Chandler AZ Real Estate Market Highlight:
  • Active listing (Inventory) has Increased 2.0% from March 2015
  • Average Sold price has Decreased 3.9% from March 2015
  • 95% of Single Family Detached Homes sold in April 2015 are Traditional Sale
  • Most expensive home sold in April 2015 in Chandler was sold for $1,075,000 Click here to view
Chandler AZ Housing Market Trends April 2015

Here are Chandler AZ Real Estate – Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Chandler AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 4.4% increase in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 382 residential Single Family Detached Homes sold in April 2015 in Chandler compared to 366 in March 2015. This compares to 371 closed sales in April of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes for sale.

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Chandler is $295,443. This Average Sold Price has decreased 3.9% from March 2015. This is because most expensive home sold in March 2015 was sold for $1,075,000, whereas most expensive home sold in March was $1,850,000. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be increased.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.

What's My Chandler AZ Home Worth? 
Click here to Find Out Your Chandler AZ House Value Instantly
View your house value instantly for free


Free Chandler AZ MLS Home search


See Homes for Sale in Chandler AZ by Price Range:
Chandler AZ Homes for Sale Under $100,000
Chandler AZ Homes for Sale $100,000 - $200,000
Chandler AZ Homes for Sale $200,000 - $300,000
Chandler AZ Homes for Sale $300,000 - $400,000
Chandler AZ Homes for Sale $400,000 - $500,000
Chandler AZ Homes for Sale $500,000 - $750,000
Chandler AZ Homes for Sale $750,000 - $1,000,000
Chandler AZ Homes for Sale Above $1,000,000

Chandler Real Estate: Specialty Homes For Sale in Chandler AZ:
Chandler AZ New Homes (New Build) for Sale
Chandler AZ Homes for Sale with Pool
Chandler AZ Homes for Sale with Fireplaces
Chandler AZ Homes for Sale Waterfront
Chandler AZ Homes for Sale Master on Main Floor
Chandler AZ Homes for Sale near Golf Course
Chandler AZ Condos and Townhouse for Sale
Chandler AZ Bank Owned Homes for Sale

Chandler Real Estate: See Homes for Sale in Chandler by zipcode:
Homes For Sale in Chandler AZ 85224
Homes For Sale in Chandler AZ 85225
Homes For Sale in Chandler AZ 85226
Homes For Sale in Chandler AZ 85248
Homes For Sale in Chandler AZ 85249
Homes For Sale in Chandler AZ 85286

Swee Ng, Realtor Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Chandler AZ, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

Ahwatukee Housing Market Update April 2015

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Ahwatukee Housing Market Trends April 2015

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April 2015 Ahwatukee Real Estate Market Highlight:
  • Active listing (Inventory) has Increased 0.5% from March 2015
  • Average Sold price has Increased 2.0% from March 2015
  • 98% of Single Family Detached Homes sold are Traditional Sale
  • Most expensive home sold in April 2015 in Ahwatukee was sold for $1,365,000 Click here to view
Ahwatukee Housing Market Trends April 2015

Here are Ahwatukee Real Estate – Single Family Detached Home statistics for April 2015. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Ahwatukee AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
We saw a 27.3% increase in the number of closed sales in April 2015 compared to the prior month. The statistics show that we had 168 residential Single Family Detached Homes sold in April 2015 in Ahwatukee compared to 132 in March 2015. This compares to 117 closed sales in April of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes for sale.

Average Sold Price Analysis:
April 2015 Average Sold Price for Single Family Detached Homes in Ahwatukee is $338,695. This Average Sold Price has increased 2.0% from March 2015. This is because there are 19 over $500,000 homes sold in April compare to 11 in March 2015. It is important for Seller and Buyer to refer to Median Sold Price instead of Average Sold Price. If there are multiples millions homes sold in particular months, the Average Sold Price will be high.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.


What's My Ahwatukee Home Worth? 
Click here to Find Out Your Ahwatukee House Value Instantly
View your house value instantly for free


Free Phoenix MLS Home search


See Homes for Sale in Ahwatukee by Price Range:
Ahwatukee Homes for Sale Under $200,000
Ahwatukee Homes for Sale $200,000 - $300,000
Ahwatukee Homes for Sale $300,000 - $400,000
Ahwatukee Homes for Sale $400,000 - $500,000
Ahwatukee Homes for Sale $500,000 - $750,000
Ahwatukee Homes for Sale $750,000 - $1,000,000
Ahwatukee Homes for Sale Over $1,000,000

Specialty Homes For Sale in Ahwatukee:
Ahwatukee New Homes (New Build) for Sale
Ahwatukee Homes for Sale with Pool
Ahwatukee Homes with Fireplace for Sale
Ahwatukee Waterfront Homes for Sale
Ahwatukee Homes in Gated Community for Sale
Ahwatukee Homes for Sale Master on Main Floor
Ahwatukee Homes near Golf Course for Sale
Ahwatukee Condos and Townhouse for Sale
Ahwatukee Bank Owned Homes for Sale

See Homes for Sale in Ahwatukee by zipcode:
Homes For Sale in Ahwatukee 85044
Homes For Sale in Ahwatukee 85045
Homes For Sale in Ahwatukee 85048

Swee Ng, Realtor Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.

Tuesday, May 12, 2015

Should I Sell My Phoenix Home Before Buying New One?

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Should I Sell My Phoenix Home Before Buying New One?

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If you are a current homeowner that wants to purchase a new home, you're most likely asking yourself a question common to folks in your situation: Should I sell before I buy? The answer to that question depends on several factors.

Should I Sell My House Before Buying New One?


Your Personality
Just the thought of having two mortgage payments—even for a short period of time—can cause massive anxiety for some people. Even if your lender has assured you of a simultaneous close on the two homes, uncertainty may linger.

Then, there is the pressure to accept an unattractive offer just to ensure that the home sells in time. If you wait to buy, you'll have the luxury of being able to negotiate offers as they come in.

If you crave certainty, you should probably wait until the current home sells to take on the purchase process. There are, however, those who deal with uncertainty better than others. If that describes you, then starting the purchase process before you sell your current home probably won't faze you.

Your Finances
Regardless of your personality, if you just don't have the money to support two mortgage payments at the same time, then you have no choice but to sell your home before you purchase another.

Further, if you need the proceeds from the sale of your current home to use to buy a new home, you'll need to wait until after you sell, or attempt a simultaneous close. (We explain that process below.)

The Market
A seller's market is the ideal situation when you're selling your current home, but it can be difficult if you hope to purchase at the same time. In a seller's market—where there are few homes available and lots of buyers competing for them—sellers are in the driver's seat. With multiple offers coming in, homeowners are not likely to accept an offer that is contingent upon another home selling.

On the flip side, in a hot seller's market, homes that are in good condition and are located in decent areas will sell quickly. If your house is among them, you take on little risk if you wish to purchase a new home before selling your current one.

Ascertain if the current market caters to sellers or buyers before making the decision of whether to buy before your house sells. Your real estate agent is your best source for this information.

Achieving the Simultaneous Close
Selling one home while purchasing another can be a bit of a balancing act. If you try to time the closings to occur during the same period, you run the risk of ending up with two house payments at once.

If you allow too much time between closings, on the other hand, you may find yourself renting a temporary home and, thus, moving twice. The ideal situation is to plan for a simultaneous closing, where both transactions occur on the same day. However, this process comes with risks, too. If anything should go wrong on the first transaction you could end up not being able to close on the second.

For the simultaneous closing process to go smoothly, it's important to choose the right buyers for your current home. How much do you know about their finances? How firm is their offer? What do you know about their motivation to purchase? How badly do they want the home?

Since the process is a bit like a string of dominoes, and the buyer of your home is the lead domino, it's crucial to choose a buyer you know will consummate the deal.

The key to success is hiring an experienced, professional real estate agent. Your agent can guide you through the process and steer the transaction to keep it on course.

View more Home Buyer tips at www.SweeEastValleyHomes.com

Swee Ng, Realtor with Keller Williams Realty Sonoran Living specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us.


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