Tyson & Katie Crandell - Your Trusted Realtors

11/04/2022

Avoid Moving Company Fees:

Before you get any quotes from mov-
ers, pad your budget for two costs that
people often forget to factor in: the
tip for the people hauling your stuff
(5 to 20 percent of the total cost of your
move) and insurance. Most moving
companies offer extra insurance, which
can be tempting to skip. But it's not
uncommon for items to be damaged or
even lost in transit, so the insurance
may be a wise buy. Expect to spend 1
to 2 percent of your property's value.

Getting multiple bids for moving
costs is standard practice, as it is with
other home-related projects. Just know
that many moving companies have
additional charges that might not
appear in the quote, like fees for stairs,
bulky items, and after-hours moving.
Read the fine print on what's included
and what would be an add-on so you
know you're comparing apples to
apples on bids. You may be able to cut
out some of these fees. Disassembling
furniture yourself could help you avoid
the bulky-item fee, for example. Or if
you have a friend who can help get
your couch down the stairs, it's cheaper
to buy them a pizza than to pay a
mover's stair fee.

Contact me for full article or any questions.

Tyson Crandell
(480) 593-8525

10/30/2022

If you are on the fence about buying now. Contact us.
Now may be a golden opportunity to invest in real estate. We have the knowledge and expertise to guide you through the home buying experience. Not to mention there are many little known programs right now to help you purchase a home.

Call us today to get started. (480) 593-8525

10/30/2022

10/29/2022

There are actually many good reasons to buy a home this fall! Give us a call to find out what they are. (480) 593-8525

10/27/2022

Buyer Demand is on the lower side but the reason the market price hasn’t went down significantly is Supply is also low.
Ask me why it’s a great time to buy a house in Arizona! (480) 593-8525

10/20/2022

Still want to buy a house?
Great!
Read this and let’s get your new home.

AS OUR CLIENTS IN TODAYS MARKET YOU CAN NEGOTIATE HIGHER CONCESSIONS TO COVER OTHER FEES &/OR MORTGAGE INSURANCE!

A 2/1 Buydown typically requires about a 2% to 2.2% concession. If you are able to negotiate a higher concession above this, we can use the higher amount to convert monthly mortgage insurance to upfront mortgage insurance. Upfront mortgage insurance is an upfront fee to pay for the MI versus a monthly fee. The seller concession can cover this premium. seller concessions can also cover appraisal fees, title fees, prepaids, etc.

So just because you only need a 2 to 2.2% concessions to cover a 2/1 buydown, doesn’t mean you can’t negotiate higher concessions that we can use with the 2/1 buydown to provide additional benefits to a client.

Here in the photo are the max concessions on the most common products we see.

If you have any questions regarding the math and truly understanding temporary rate buydowns – please give me a call.

The full concession in dollars is exactly what the customer saves in the first 2 years in payments. So if the concession is $10,000 to get a 2/1 buydown – the customer saves $10,000 on their payments in the first 2 years.

Powerful stuff.We still expect rates to drop later this year or next year. 2022 will likely be the third year since World War 2 that Stocks and Bonds end lower.

In every other instance, yields lowered the following year which to us would mean lower rates. If a client gets out of a 2/1 buydown before the 2 years, they get all the funds they don’t use.

The temporary buydown is the best bet if rates drop next year.

We also believe that there is pent up demand where many people that would buy homes are not buying due to interest rates. These clients still want to buy.

If rates drop as expected, many of these buyers sitting on the sideline will come into the market. The housing marketing will be very competitive again and a client won’t have the pick of available homes that they have today.

10/19/2022

If you have been thinking about buying or selling real estate anywhere in the USA, give us a call today. We have the experience to help you, your friends, and family achieve any real estate goals. Always contact us first!

480.593.8525

10/18/2022

How’s The Market?

Active Listings - up 163% from last year
Under Contract Listings - down 36.4% from last year

Monthly Average Sales Price per Sq. Ft.: $277.40 versus $251.87 last year - up 10.1%

Monthly Median Sales Price: $439,000 versus $410,000 last year - up 7.1%

Demand has been weak for many months but a small improvement was observable in August and the first few weeks of September. Thirty year fixed mortgage rates were still around 6% a month ago but are now flirting with 7% and, as expected, this appears to have turned off enough tranche of would-be buyers. Higher rates also discourage sellers and make them appreciate the loans they already have in place. More of them are deciding to expand or improve their current home rather than take on a new loan at a much higher rate.

Seller confidence has been crushed over the past 5 months and the recent trends are going to do nothing to help. This means buyers will get more confident in their bargaining position and this is negative for pricing. The monthly average $/SF for closed listings is down 9.3% from the peak of $306.1 measured on June 9.

If mortgage rates had remained between 5% and 6% we might have seen a slow recovery taking place by now, but the Federal Reserve kicked the market while it was down and looks ready to kick it again. (Courtesy of The Cromford Report)

Contact us with any real estate questions.

(480) 593-8525

10/17/2022

Last day… let’s do it again!

10/13/2022

Lunch on the North Shore.