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US Housing Flipper Make 50% Gross Returns

Property investors were bullish on the U.S. housing market in 2017, flipping more homes than in any year since 2006, when the real estate bubble that helped upend the global economy was still inflating.

Investors flipped more than 207,000 single-family houses and condos in the U.S. last year, Attom Data Solutions said in a report, which defines flips as sales that occur within 12 months of the last time the property changed hands. More than 138,000 investors flipped a home last year, the most since 2007.

“The long up-cycle that we’re in is giving more and more people confidence to try their hand at home-flipping,” said Daren Blomquist, senior vice president at Attom. Rising home prices are “pulling more people onto the bandwagon.”

Buy, Sell
Investors flipped more than 207,000 homes in the U.S. last year, the most since 2006.


Source: Attom Data Solutions

Today’s home flippers appear to be more conservative than bubble-era investors. The average flip generated gross returns of 50 percent in 2017, compared to 28 percent in 2006. Thirty-five percent of flippers financed their acquisitions last year, the highest share since 2008 but far lower than the 63 percent who used loans in 2006.

Still, red flags show up in local markets. Flippers in Austin, Texas; Santa Barbara, California; and Boulder, Colorado, earned gross returns of less than 25 percent (which don’t include the cost of renovating the homes), suggesting that investors in some markets are depending on slim margins. Flips represented almost 13 percent of home sales in Memphis, Tennessee, in 2017, more than twice the national average, a sign that some flippers are becoming overconfident, Blomquist said.

Source: bloomberg.com

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Office: 480-213-5251

Financial Don’ts When Getting Ready To Buy A Home

If you’re in the process of buying a home, you’ve probably already met with a lender who advised you on what to do and what not to do during the escrow process. But if you’re just getting ready to buy or plan on doing so in the near future, following a few financial tips can mean the difference between qualifying…and not, and also getting a decent rate. These are a few universal “don’ts” that will help you stay on track, even before you get a lender involved.

Don’t take out more credit

If you’re thinking you’re going to buy a house in a matter of a few months, forget that new laptop on the Best Buy card, forget that new car, and forget that Old Navy card. Sure, it’s only a $30 pair of pants. But, taking out more credit can harm your debt-to-income ratios, which can make you look like a credit risk. And that’s not worth it, no matter how cute the pants are.

Don’t pay off all your current credit cards

Your lender will tell you specifically what you should pay down and what you should leave alone, but banks tend to like responsible credit management. In some cases, that may mean carrying a small balance on one or more cards.

Don’t charge up all your cards to the limit

“Responsible credit management” does not mean running every available card up to the limit and/or only making minimum monthly payments. Banks will not look kindly on this when you go to get approved for a loan.

Be careful with old debts

You may think that in order to qualify for a mortgage or get the best possible rate you have to pull your credit and go back through every single entry to identify and take care of anything negative. You’re right about the first part. Pulling your credit so you know what you’re working with is critical, and financial experts recommend doing it annually, regardless of what you’re planning (or not planning) to buy. But be careful with old debts. It doesn’t hurt to ask a lender what should and should not be taken care of. But, in general, you’ll want to:

Pay in full instead of making settlement arrangements – It’s not uncommon for debt collection companies to send out settlement offers that allow you to settle debts for less than the total amount. While this can sound tempting, it likely won’t yield the results you’re looking for. Yes, it’ll stop the harassing phone calls and persistent letters. But if your goal is to get the debt to disappear from your credit report, you’ll be disappointed.

“When you settle your debt, the activity usually shows up on your credit report as ‘debt settled’ or ‘partial payment’ or ‘paid in settlement.’ You can talk to the settlement company about the specific language they use, but the bottom line is: this is a red flag on your report,” said clearpoint. “FICO doesn’t reveal how much your score will drop, exactly, and your report doesn’t indicate how much of the original debt was forgiven; it simply shows you settled. Either way, it still points to the fact that you may be a credit risk.”

Stick to newer debts – Older debts that are getting close to falling off your report should be the last thing you pay. “You also want to consider the statute of limitations on your debt,” they said. “Most past debts remain on your credit report for seven years, so if you’re close to the time frame when the debt falls off, settling it may not make much of a difference. There’s an ethical argument to be made here, but practically, you might just be settling a debt that was about to disappear anyway.”

Be careful with debt consolidation

If you have a lot of outstanding debt, are in over your head with credit cards and store cards, and can only manage the minimum monthly payment on all your existing loans, you’re likely going to have a hard time qualifying for a mortgage. You may be tempted to lump your debt together into one payment through a credit consolidation company, but beware the consequences. There may be startup fees, interest rates on the consolidation loan could skyrocket after an initial teaser rate expires, and, in some cases, an improvement in credit is years away.

Don’t get lax with your payments

Your lender will reinforce this, but it bears repeating that even after you’ve been prequalified, you need to keep your payments current on your car, your Visa, etc. Your lender will do a recheck before closing just to make sure nothing has changed in your credit report, and if you have new issues, it could impact your loan.

Don’t move money around

“We know a story of one homebuyer who almost lost his home because he had stated on his application that the down payment was coming from a mutual fund account. Then, two days before closing, he decided to sell a baseball card collection instead,” said HSH.com. “The loan had to be underwritten all over, his ownership of the collection, its value and its sale had to be verified, the closing was delayed and the fees increased.”

Don’t change jobs before you buy your home

This is a big no-no don’t if you’re in the process of buying a home or are about to. Among all the other financial information your lender will be collecting in consideration of your loan, they will also be asking about your employment history. You’re obviously less likely to be approved if you’re unemployed (unless you’re independently wealthy, and, in that case, Congratulations!). A recent job change may also be problematic if the bank is feeling jumpy about your job security.

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Office: 480-213-5251

New Tax Bill ~ Things You Might Want To Do Before The End of The Year

There are some pretty straight-forward money moves people make every year at this time to protect what they have and lower their tax obligation. Many of them are still in play, however, the new tax bill that was just signed has also complicated a few things.

“Add another item to your holiday shopping list: last-minute tax planning,” said the Los Angeles Times. “Congress has passed the most sweeping overhaul of the federal tax code in three decades. The Republican legislation…delivers most of its benefits to corporations and the wealthy, but there are key changes that affect individuals. Unlike the corporate tax cuts, the revisions to the individual code are temporary and expire in 2026. Most of them kick in on Jan. 1, and there are steps you could take in the coming days to maximize new advantages and minimize the potential hit from other changes.”

Make an extra mortgage payment

With the new tax bill, standard deductions for those who don’t itemize on their taxes will almost double next year, going “from $6,350 to $12,000 for individuals, and from $12,700 to $24,000 for couples,” said the L.A. Times. “Taxpayers who anticipate itemizing on their 2017 returns might want to consider making their January mortgage payment before the end of the year. Doing so would allow you to deduct an extra month of mortgage interest that you might not be able to deduct on your 2018 return if you don’t end up itemizing because of the higher standard deduction.”

If possible, pay your 2018 property taxes early

“Taxpayers who itemize their deductions may want to consider prepaying their 2018 property taxes before Dec. 31,” said CBS News. “Because the tax bill will cap the deduction for state and local taxes (SALT) at $10,000 starting next year, homeowners in high-tax regions like New York or New Jersey can maximize their SALT deductions in 2017 by prepaying next year’s property taxes before Dec. 31.”

Beware of prepayment from an escrow account, however, as this could create “the potential for crossed wires with the bank.”

Defer income until 2018

Many families will end up in a lower tax bracket next year, which should increase take-home pay. If you are expecting another paycheck or a bonus before the end of the year, delaying it until 2018 could mean more money in your pocket.

Give more to charity

Charitable contributions are not affected by the new tax bill per se, but because the number of itemizations is expected to drop sharply next year, there may be a reduced financial benefit to giving to charity in 2018. Loading up on charitable donations now will allow you to take advantage of the deduction before the new year, and do a good deed.

“This might be the year, if they can no longer itemize their charitable donations, to clean out the closet and donate to Goodwill or the Salvation Army or make that extra contribution to your church,” Kathy Pickering, executive director of the Tax Institute at H&R Block, which provides research and analysis to the company’s tax preparers, told the L.A. Times.

Check your contribution limits

Contribution limits were unchanged by the new tax bill, but the importance of maximizing those contributions by the end of the year remains. “In 2017, people can choose to have $18,000 of their pre-tax income placed into their 401(k) accounts,” said CheatSheet. “Participants aged 50 and older are allowed an additional $6,000 catch-up contribution. You may wish to check how much you have contributed to date in 2017 and increase contributions accordingly. If you have an Individual Retirement Account, or IRA, check to see if there’s room there as well for last-minute savings. The 2017 limit for both Roth and traditional IRA accounts is $5,500.”

Position Realty
Office: 480-213-5251

Tips For Getting Your Home Sold In The Winter

So you’ve decided to list your home this winter. Perhaps you’ve had a job change, need to relocate out of the area, or have financial or family reasons for moving. No matter what is driving the move, you may be concerned about selling at this time of year. But just because you missed the boat on the spring selling season doesn’t mean you can’t get your home sold quickly, and for a profit. A few tips can help get it moving.

Take photos early… or late

If you can take photos before the trees become barren and the grass goes dormant, do so! The last thing you want is for your home to look blah and depressing in photos. If you can capture a snowy day (with perfectly scraped walkways, of course), that works, too. It never hurts to have your home looking like a winter wonderland.

Go easy on the holiday décor

“Deck the halls, but don’t go overboard,” said HGTV. “Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.”

Always mind your curb appeal

Just because it’s winter doesn’t mean you can let things slide out front. Potential buyers won’t give you a pass on chipping paint, a fence that needs repair, or a front door that’s seen better days just because it’s frigid outside.

Safety matters

Shoveling the walk from the street to your home is necessary to make it reachable, make it inviting, and also make it safe. The last thing you want is a slip and fall that could result in an injury, and a lawsuit. “Continually shovel a path through the snow, especially if snowflakes are still falling,” said the balance. “Footprints on freshly fallen snow will turn to ice if the temperature is low enough, so scrape the walk. Sprinkle a layer of sand over the sidewalk and steps to ensure your buyers’ stable footing. Remember to open a path from the street to the sidewalk so visitors aren’t forced to crawl over snowdrifts.”

Get a good indoor mat

Perhaps you never use a mat for indoors or yours is grubby or tattered from 10 straight years of winter wear. This one super easy move may not be noticed by visitors – but it sure will if it’s missing or not in good shape. Little things like a $10 mat can give buyers the impression that your whole house is well cared for, or just the opposite.

Clear the front door clutter

If you live in a climate where there is likely to be snow or rain, there are a few more steps you’ll probably have to take in order to keep your house looking great inside. How does your coat closet look? If it’s stuffed with jackets, scarves, boots, and gloves, relocating some to make room for potential buyers to put their stuff away while touring your home is a good idea – plus, a tidy coat closet gives the impression that there is plenty of storage space in the home. It goes without saying that winter wear and shoes that tend to stack up in the entry should be banished while your house is on the market.

Make sure everything is functional

Imagine you live in a climate that stays relatively temperate year-round, and then you have a cold spell. You turn on the heater for the first time the night before your first showing, and…nothing. Same for the fireplace in the living room. Your freezing cold house is probably not going to make a great impression on buyers. As soon as you decide you’re going to sell your home, go through it room by room, checking all major appliances and home functions and looking for little things that may escape notice on an everyday basis – cracked light switches, chipped baseboards, light bulbs that need to be replaced – so your home is perfect for showings.

Light it up

Shorter days with earlier sunsets limit the amount of natural light in your home. Turning on all the lights before showings is more important than ever. Think about the exterior when it comes to lights, too. If you only have a porch light, you might want to consider adding some landscaping lighting, which will help accentuate your outdoor space.

Listen to your REALTOR® when it comes to price

Will you be able to command top dollar for your home and get the same price you would have had you listed in spring or summer? That depends on so many things, including your neighborhood, the available inventory, the condition of the home, and, of course, your listing price. A trusted real estate agent will take all mitigating factors into consideration and use comparables in your area to develop a pricing strategy.

When it comes to offers, remember this tidbit from Realtor.com: “Just because your home’s on the market during the slow, chilly months doesn’t mean you have to accept a lowball offer. If you make your home attractive in all the right ways, qualified buyers will come.”

Position Realty
Office: 480-213-5251

4 Things You Absolutely Must Get Rid Of Before You Move

So you’re moving, and on your verrrrrry long moving-related “to-do” list is that old favorite: packing. Did you just let out a big sigh at the thought? Us, too. Face it, it’s no fun. Actually putting stuff in boxes isn’t the hard part for many people; It’s the dreaded sorting and decluttering and getting rid of stuff that sends many into a panic. Take a deep breath and we’ll get through these tips together.

First, use this advice from Rent.com as an overall rule of thumb: “For one, if it’s damaged, it should be thrown away, no exceptions. Also, if it’s spent more than six months unused, you likely won’t miss it if you get rid of it. For clothes, if you haven’t worn a garment in over a year, it should be donated– that way you don’t get rid of seasonal clothes you may need in a few months.”

Now, let’s break down the specifics.

Paperwork

If you’ve got boxes and boxes of old receipts and taxes and printed emails dating back to the turn of the century, it’s time to dive in. “Keep everything for seven years” is ingrained in many of our brains, but, according to financial expert Suze Orman, that’s not necessary. She says the only thing that needs to be kept for seven years are records of satisfied loans. Income tax returns only need to be kept for three years (can we get a Hallelujah?). But, there are some reasons to keep them longer, depending on your withholdings. You can see all her recommendations here.

Mementos and heirlooms

It can get sticky when it comes to things you’ve been willed or handed down. If you feel like you need to hold on to that old antique dresser that’s been in your family for two generations – and that’s sitting in the garage because it’s not your style – or your grandmother’s china that you’ll never use, we get it. If you know you’ll never use the item as is (China? Not even for Thanksgiving?), can’t find a way to repurpose the item (Can that old sideboard be painted?), and there isn’t another family member who will take it, maybe it’s time to think about selling it. You might be surprised at how valuable old antiques and collectibles can be. And, if you’re feeling bad about selling your heirlooms, you can always donate the money to a worthy cause; that will help you assuage your guilt.

Clothes

Getting rid of clothes can be overwhelming. No one is saying you have to pare down to a week’s worth of outfits and shoes, but if you’re moving to a smaller space or just want to be more organized when you move, the closet is a great place to start.

Most experts recommend getting rid of anything you haven’t worn in a year, but if the thought of purging that many items is giving you anxiety, start by asking yourself a few questions, said The Spruce:

  • Do I love it?
  • Do I wear it?
  • Does it project the image I want to project?
  • Does it itch or scratch?
  • Does it pinch my toes? Are the heels too high to walk in?
  • Is it moldy? Smelly? Stained?
  • Does it fit?”

When you get to No. 7, take a deep breath. Many people have clothes in a couple of sizes to accommodate things like post-pizza-pigout days, but if you’re holding on to 15 pairs of pants that haven’t fit you since 2002, maybe it’s time to ditch them.

Broken, scratched or tired furniture

Old, boring, broken, or otherwise undesirable pieces you’ve been living with in your current home may not be so tolerable once you move. Your shiny new place deserves some shiny new stuff, right? If you’re not in a position to shell out a bunch of money after buying your new home, wait a bit. You’ll undoubtedly be receiving credit card offers after you close escrow; sift through them and set aside those offering 0% interest from furniture stores like Rooms to Go.

These can make big purchases easier – if you are good at managing your credit. Miss a payment or fail to pay off your balance within the allotted time and you’ll have interest accrued going back to the date of purchase plus a whopping interest rate, which can put payments out of reach. You may also receive 0% interest offers from places like Lowes and Home Depot, which can be a great way to update appliances, flooring, or countertops, and Best Buy for your electronic needs.

Position Realty
Office: 480-213-525

View All Homes For Sale In Aviano at Desert Ridge

At the heart of the 400 acre Aviano at Desert Ridge community you will find the 15,000 sq. ft. community center that is brimming with activity. There are multi-purpose rooms to use, state of the art fitness center, two lighted tennis courts, a full basketball court, large park and playground area, and a resort style pool with lap lanes that would rival any world class resort.

Nearby JW Marriott is home to Wildfire Golf Club and 36 holes of championship golf. Many vacation and second home owners find this neighborhood attractive with the secure gates and the lock and leave Villages at Aviano complex. Townhomes ranging from 1300-2400 sq. ft. with price points beginning just over 250,000 makes a luxury resort community affordable. With over 280 completed units, there are several more buildings that will begin construction at a future date.

Single family homes total just over 900 and size ranges from 2600- over 5000 sq ft. Toll Brothers was the developer of Aviano and they presented 30 floor plans to choose from when the community was being built. With the level of choices there is sure to be a plan that fits your lifestyle and budget in this beautiful community.

Foodies and Shoppers rejoice! Located within minutes of your doorstep you will find The Marketplace at Desert Ridge with over 1 million sq. ft. of retail, dining options and entertainment. If that isn’t enough, head over to neighboring City North for even more options. Desert Ridge is a diverse employment center that allows many residents to live, work, and play all right there. Comuters don’t mind the drive, however, it’s only 20 minutes to downtown Phoenix or just a jaunt down the road to Scottsdale.

Position Realty
Office: 480-213-5251

IMPORTANT THINGS TO KNOW ABOUT HOME INSPECTIONS

If you’re hiring someone to inspect the home you want to buy, or you’re a seller trying to find out if there are any hidden problems that need fixing before you put your home on the market, here are five things you need to know:

1. You can choose your home inspector.

Your real estate professional can recommend an inspector, or you can find one on your own. Members of the National Association of Home Inspectors, Inc. (NAHI), must complete an approved home inspector training program, demonstrate experience and competence as a home inspector, complete a written exam, and adhere to the NAHI Standards of Practice and Code of Ethics.

2. Home inspections are intended to point out adverse conditions, not cosmetic flaws.

You should attend the inspection and follow the inspector throughout the inspection so you can learn what’s important and what’s not. No house is perfect and an inspection on any home is bound to uncover faults. A home inspector will point out conditions that need repair and/or potential safety-related concerns relating to the home. They won’t comment on cosmetic items if they don’t impair the integrity of the home. They also do not do destructive testing.

3. Home inspection reports include only the basics.

A home inspector considers hundreds of items during an average inspection. The home inspection should include the home’s exterior, steps, porches, decks, chimneys, roof, windows, and doors. Inside, they will look at attics, electrical components, plumbing, central heating and air conditioning, basement/crawlspaces, and garages.

They report on the working order of items such as faucets to see if they leak, or garage doors to see if they close properly. Inspectors may point out termite damage and suggest that you get a separate pest inspection. The final written report should be concise and easy to understand.

4. Home inspectors work for the party who is paying the fee.

The NAHI Standards of Practice and Code of Ethics clearly state that members act as an unbiased third party to the real estate transaction and “will discharge the Inspector’s duties with integrity and fidelity to the client.” A reputable home inspector will not conduct a home inspection or prepare a home inspection report if his or her fee is contingent on untruthful conclusions.

The inspector should maintain client confidentiality and keep all report findings private, unless required by court order. That means it is your choice whether or not to share the report with others. If you’re a seller, you don’t have to disclose the report to buyers, but you must disclose any failure in the systems or integrity of your home.

5. Inspectors are not responsible for the condition of the home.

Inspectors don’t go behind walls or under flooring, so it’s possible that a serious problem can be overlooked. Keep in mind that inspectors are not party to the sales transaction, so if you buy a home where an expensive problem surfaces after the sale, you won’t be able to make the inspector liable or get the inspector to pay for the damage. In fact, you may not be entitled to any compensation beyond the cost of the inspection.

As a buyer, you need the home inspection to decide if the home is in condition that you can tolerate. You can use the report to show the seller the need for a certain repair or negotiate a better price. You can also take the report to a contractor and use it to make repairs or to remodel a section of the home.

One thing you should not do when buying a home is skip having the home inspected because of cost or undue pressure by the seller. A home inspection is reasonable, it can save you money in the long run, and it’s required by many lenders, particularly for FHA loans. There’s a reason why buyers should beware, and a home inspection gives you the information you need to make a sound buying decision.

Position Realty
Office: 480-213-5251

UNDERSTANDING HOW CREDIT SCORES WORK

Lenders want to give you a mortgage, but they also want to minimize their own risk. The easiest way to retard risk is by using your credit scores to make lending decisions.

Credit scores are compiled separately by three consumer reporting agencies — Equifax, Experian, and Trans Union. These credit reporting bureaus calculate scores differently, and base their scores on information that may differ from other bureaus.

Equifax Beacon 5.0 Facta: scores range from 334 to 818.

Experian Fair Isaac V2: scores range from 320 to 844.

Trans Union FICO Risk score Classic 04: scores range from 309 to 839.

Your credit score is a number that reflects the information in your credit report, whether you pay your bills on time, how much you owe creditors, payoffs, and derogatory information such as liens. It also includes inquiries into your accounts from lenders, landlords, and employers.

When you apply for a home loan, your application includes giving your lender permission to “pull your credit” and base the decision to lend to you and the rate of interest on the information contained in your credit scores. The higher the score, the better terms you’ll receive from the lender.

Once your credit scores are reviewed by your mortgage lender, you’ll receive a computer-generated report of the findings in the mail, but it won’t have a copy of your entire credit report. It may include key factors that adversely affected your scores. Some examples might include:

  • Too many inquiries in the last 12 months
  • Time since most recent account opening is too short
  • Proportion of loan balances to loan amounts is too high
  • Too many accounts with balances
  • Amount owed on revolving accounts is too high

What if you’re declined for the loan, or your lender wants to charge higher interest than you were expecting? Is there anything you can do?

Yes, talk to your lender and ask for help repairing or correcting your scores. For example, you may have innocently done something that resulted in a negative score, such as closing a line of credit. Or, you may not have realized that a late payment would bring your score down as much as it has. The lender will tell you exactly what you need to do.

Under federal law, you have the right to obtain a free copy of your credit report from each of the national consumer credit reporting agencies once a year. There are several sites where you can go to get your free reports includingAnnualCreditReport.com or FreeCreditReport.com.

If you find an error such as derogatory data that doesn’t belong to you, or an account that shows the wrong balance, simply show the lender your canceled check, release of lien or other proof that the credit report is wrong.

You’ll also have to correct the information yourself separately with each agency, and it may take a few weeks for the agencies to record the updated information.

In the meantime, work with your lender and do what he/she tells you to do to get the best rate, including paying more than the minimums, paying on time, and making sure that your debt to income is well within your ability to repay all your loans.

Position Realty
Office: 480-213-5251

6 GADGETS THAT WILL INCREASE HOME EFFICIENCY

For bolstered efficiency and enhanced convenience, it’s worth it to equip your home with the newest technology. There are practical smart home devices that will help you save on utility costs, ensure the safety of your home and assist in home maintenance. There are also more personalized gadgets that will help you monitor health, ensure your pet’s safety, and also provide multifaceted assistance in home management. Tailor your home with the right technology for you and your family. Here is a list of the best smart home gadgets you should invest in:

Nest Thermostat

The Nest Thermostat pays for itself with its energy efficiency programs, which yield significant savings on utility costs. The device learns the temperatures you like and will program itself in about a week with an automatic heating and cooling schedule. It also automatically turns itself down when no one is home, which saves energy. You can remotely control your Nest system from your phone, tablet or laptop. Nest will guide you toward the best temperature schedule that will save you both energy and money.

Philips Hue

Philips Hue bulbs help you control your house’s lighting via your smartphone. You can create light schedules for home automation so lights turn on when you arrive home or turn off once you’ve left. Doing this will help you reduce energy usage and also provide you with a means of remote theft deterrent. The away-from-home controls let you adjust your lights remotely. This is handy if you have forgotten to switch your lights off or if you need them on during a non-scheduled time. The Philips Hue kit is compatible with Apple HomeKit technology, which can be voice-accessed on the iPhone 6s Plus through Siri or manually through the app.

Beautiful young woman waking up with mobile alarm clock

Withings Aura

The Withings Aura is a high-tech alarm clock disguised as a sleek, modern lamp. It offers a personalized, gradual wake-up experience that will help you feel refreshed and energized. The light on the Aura provides a simulated sunrise, at your designated alarm time, for a gradual wake up. At night, the light provides optimized colors that promote the secretion of sleep hormones while its attached speaker projects soft ambient sounds that will enhance your sleep.

Amazon Echo

The Amazon Echo is a hands free speaker that you control with your voice. It can play music, provide information, news, sports scores, weather and more. You can connect the Echo to your music libraries from Prime Music, Pandora, Spotify, iHeartRadio, and TuneIn—the music will fill the room through the devices’ 360 degree omni-directional audio. Even while music is playing, the Echo can detect your voice for instruction. You can connect the Echo to your other smart home devices like the WeMo, Philips Hue, Nest, Wink, Samsung SmartThings, Insteon and ecobee.

Petcube

Keep track of your furry friend, while you’re out of the house, with Petcube. The cube contains a wide-angle lens video camera that provides HD live video so you can monitor your pet’s activity from your smartphone, tablet or computer. There is also two-way audio, which allows you to listen-in on your little friend and also chat with them through your smartphone. A built-in laser toy lets you interact with your pet so they get in some play time during the middle of your workday.

Belkin WeMo Switch

The WeMo Switch lets you remotely control the power source to your electronic devices. The switch uses your Wi-Fi network for wireless control of your plugged-in devices, like your television, stereo, heaters, fans, kitchen appliances and more. Through the WeMo app you can turn the device on or off and set schedules for them. The WeMo Switch helps you conserve energy and ensure that your home is safe from any electrical mishaps.

Position Realty
Office: 480-213-5251

Phoenix Residential Market Report ~ July 2016

Real Time_Supply

Average Sold Price_Monthly

Pie Chart_Market

Average Days on Market_Monthly

Active vs Sold Transactions

Foreclosures_Monthly

Short Sales_Monthly

The current real time market profile shows there were approximately 9,041 new listings (down 893 listings from last month) on the market in July 2016 and 7,769 sold transactions. Since the beginning of the year the number of new listings has exceeded the number of sold transactions by +16.4% but the overall inventory of homes on the market is down -16.4% as compared to the number of home on the marker in July 2014. Current demand is equivalent to demand for housing experienced in July 2015 but this year the lower inventory of homes on the market home prices will allow prices to appreciate at a faster rate.

In July 2016 the average sold price took a steep dive south as well as the number of sold transactions. This could be the formation of a new trend due to upcoming presidential election or it could just be caused by the lack of buying due to buyers taking summer vacations. Last year’s summer buying season was weak where we saw prices decrease from June to September. This month buyers demand is down by 1,208 transactions but the overall average days on market is still low which is good news the month of July was just a slow month in the market. Since August 2015 (12 months ago), the average sold price has increased approximately +4.5% (down from last month), the average days on market have decreased approximately -4.0% (down from last month) and the number of sold transactions have increased approximately +9.6% (down from last month).

The volume of foreclosure purchases since August 2015 (12 months ago) has decreased approximately -22.0% and the volume of short sales decreased of approximately -32.0%. Since November 2014 the volume of foreclosure purchases went up and now the trend is back down once again. Also, since August 2013 the volume of short sale purchases have decreased -474.8% because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down depending if they purchased their homes between 2005 and 2007.

Since August 2015 (12 months ago), the number of homes for sale on the market have increased approximately +4.7% or 21,487 homes for sale on the market to a gradual increase of 22,504 homes. The total number of listings is low as compared to 28,776 listings in May 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best buying or selling strategy, TODAY!!

Position Realty
Office: 480-213-5251

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