Selling Your Home

What Is Going on with Mortgage Rates?

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead.

Economic Factors That Impact Mortgage Rates
When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be hearing a lot about right now. Here’s why.

The Fed decided to start raising the Federal Funds Rate to try to slow down the economy (and inflation) in early 2022. That rate impacts how much it costs banks to borrow money from each other. It doesn't determine mortgage rates, but mortgage rates do respond when this happens. And that’s when mortgage rates started to really climb.

And while there’s been a ton of headway seeing inflation come down since then, it still isn’t back to where the Fed wants it to be (2%). The graph below shows inflation since the spike in early 2022, and where we are now compared to their target rate:

As the graph shows, we’re much closer to their goal of 2% inflation than we were in 2022 – but we’re not there yet. It's even inched up a hair over the last 3 months – and that’s having an impact on the Fed’s plans. As Sam Khater, Chief Economist at Freddie Mac...

What’s Causing Rates To Skyrocket?

A closer look at the real reason behind skyrocketing mortgage rates.

One of the most asked questions in real estate today is, “Why are mortgage rates so high?” A lot of people are worried about rising rates, but the reality is they may not come down anytime soon. 

To help you understand the factors that are causing rates to rise, I’m sharing with you this informative article from ‘MyKCM.’ This three-minute read will touch upon our economic status, inflation, the Federal Reserve, and how these all create a ripple effect across the entire country, including the real estate market. 

If you have any questions about real estate, call (602) 909-5994 or email [email protected]. I would be happy to help you out with all your real estate needs. I look forward to hearing from you!


Boost Your Home's Worth: Unveiling the Core Essentials for Resale Success

Three key aspects of home renovation that can bring you the best ROI.

What improvements bring the most value when selling a home? While many sources may suggest cosmetic updates like adding an extension, renovating the kitchen, or upgrading bathrooms, it's essential to delve into the core aspects of home maintenance that can significantly impact its resale value. Here are three critical areas that not only contribute to the longevity of your home but also play a pivotal role in shaping buyer perceptions:

1. Roofing. One of the foremost considerations should be the condition of your roof. If it has surpassed the 20-year mark or if there are current leaks, addressing these issues is paramount. Buyers are often deterred by the prospect of shelling out substantial sums for roof replacement. Therefore, ensuring your roof is in top condition can alleviate concerns and enhance the overall appeal of your property.

2. Air conditioning units.  Well-functioning air conditioning units are crucial, especially in warmer climates. Regular servicing is essential, and during maintenance, consider requesting temperature readings, known as "splits." This involves measuring the temperature where air enters the system and comparing it with the air exiting the ducts. A well-maintained AC system not only improves comfort but also instills confidence in potential buyers.

"What improvements bring the most value when selling a home?"

3. Swimming pool maintenance. If your property includes a swimming pool, its condition can significantly influence buyers' decisions. Whether...

Do You Need To Disclose a Death in Your Home?

Here’s what you need to know about disclosing deaths on your property.

I wanted to touch base this month and share a thought-provoking question that recently came up—a bit of a dark subject but an important one nonetheless. The question raised was whether sellers are obligated to disclose any deaths that occurred in a home, whether by natural causes, suicide, homicide, or otherwise.

In Arizona, where I operate as a real estate agent, sellers are not legally required to disclose such information. Interestingly, this is consistent with the laws in 35 out of the 50 states in the U.S.

However, there's a crucial distinction to be made.  While sellers aren't obligated to disclose deaths in the home, withholding material information could potentially lead to legal trouble. For instance, in the case of Lerner versus DMB Royalty in 2011 or 2012, the buyer sued the seller for failing to disclose that a registered sex offender lived nearby. Although the seller initially won the case, they settled on the basis of misrepresentation when it was revealed that the seller had misled the buyer about the reason for their move.

"You should always disclose important information."

In essence, if sellers are directly asked about deaths on the property, they have the choice to disclose or not. However,...

Bob’s List of Tip Contractors for Your Home Improvement Project

Bob’s list is a compilation of vendors and contractors who can help you.

Spring cleaning! It’s that time of year again when we’re thinking about making some home improvements. I usually get several calls from past clients asking if I know someone who can do home renovations, whether it's a kitchen remodel, plumbing or electrical work, or even a good pool guy.

For those of you who have worked with me in the past, home renovations are something that I take seriously. I understand the importance of making repairs and improvements in your home. That is why I came up with a list of all my recommended vendors, contractors, and other people who could help you complete projects that you want in your home. 

"I recommend them for their quality work and professionalism, and clients have had a really good experience working with them."

The individuals on this list are people I know who have done work on my home or have worked for other clients that I collaborate with. I recommend them for their quality work and professionalism, and clients have had a really good experience working with them.

If you are interested in having a copy of this list, just let me know via email. You can also give me a call or put your email address in the comments section, and I’d be happy to send the list your way. As always, let me know if there’s anything I can do to help!


Don’t Miss Out! Exclusive Insights on Mortgage Trends and Real Estate

Key statistics and trends that could shape your future in homeownership.

Recently, I stumbled upon an insightful article that had a lot of great stuff to say about the current landscape of mortgages and the broader real estate industry. This article explains the impact of the recent rate drops, highlighting a surge in buyer interest while underscoring the challenges posed by limited housing supply. Today, I’ll delve into key insights from this article and shed light on the implications for sellers, buyers, and the market as a whole.

Feel free to watch the full video or use these timestamps to browse specific topics at your leisure:

0:00 — Introduction

0:54 — Problems with supply

1:22 — Critical stats on existing mortgages 

3:23 — Gen Z and Millennials missed the dip in rates during the pandemic

4:23 — How the market is doing

5:13 — Advice for buyers

5:44 — Wrapping up

If you have any questions about this topic or need help with your real estate goals, call or email me. I’m always happy to help.



Protecting Your Property from Deed Fraud in Arizona

Empower yourself against deed fraud with Maricopa title alert.

As we gear up for the festive season, I wanted to bring an increasingly common issue to your attention–deed fraud. This issue is particularly prevalent in Arizona, and I want to share some ways you can protect yourself. Maricopa County has launched Maricopa Title Alert, a service that can significantly bolster your defenses against this type of fraud. Today, I'll be explaining how deed fraud occurs, particularly with vacant land and out-of-state property owners, and how you can use this new service to safeguard your property.

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:

0:00 — Introduction

0:15 — Deed fraud on the rise in AZ

0:52 — Maricopa Title Alert

1:51 — Out-of-state sellers


Answering Your Burning Mortgage Interest Rate Questions

What expert Lizy Hoeffer has to say about the future of interest rates.

Right now, there’s a lot of uncertainty in the real estate market about interest rates. As you may know, rates are currently higher than they’ve been in a long time; however, there are rumors rates will decrease next year. Are these rumors valid, and how do recent geopolitical events around the globe affect rates? Today, I’m speaking to loan expert Lizy Hoeffer to answer these questions and more. 

As always, don’t hesitate to call or email me with any questions. I look forward to hearing from you!


Why Your New Home Needs a Thorough Inspection—Don’t Skip It!

This is why you shouldn’t skip home inspections even on a new build.

Today, I want to discuss an interesting observation during a recent home inspection of a new property. Surprisingly, we've encountered more issues in some new builds compared to homes constructed in the 1950s or 1960s. This can be concerning, but it raises a common question: Why should one invest $500, $600, or even $800 in a home inspection for a brand new house? I'll explain precisely why a home inspection is crucial, especially for new homes.

In this specific case, we examined a brand new home with an issue related to the AC unit. There was a noticeable half-inch gap between the unit and the ductwork. Essentially, the unit was cooling the entire attic, not the living space. When our inspector opened the unit's cover, the air blew so forcefully that it pushed his hair back, highlighting the problem. Furthermore, this improper cooling was evident as the house wasn't cooling down effectively. The inspector ventured into the attic to investigate further.

"If you or someone you know is purchasing a new home and contemplating skipping a home inspection because it's new, think again."

If you or someone you know is purchasing a new home and contemplating skipping a home inspection because it's new, think again. In today's construction environment, it's just as crucial, if not more so, than when buying a 50 or 60-year-old home. With the way homes are being built right now, making a thorough home inspection and getting a good inspector have become  critical steps.

If you have any questions about home inspections...