Tuesday, October 17, 2017

Buyer Demand Still High, but Supply Running Out

Many Americans mistakenly believe that owning a home is beyond their means. Both homeowners and renters have the misconception that buyers need a down payment of at least 20 percent before they can qualify for a mortgage and purchase a home. But this is a home-buying myth, according to William E. Brown, president of the National Association of Realtors (NAR), who said, “Every month this year, roughly 60 percent of buyers who financed their purchase with a mortgage made a down payment that was 6 percent or less.” Buyers with steady jobs and reasonable debt loads can find mortgage options that suit their current level of savings.

Homes Selling Quickly

Those who qualify for a mortgage may have a difficult time finding a property to purchase, though. In July, an average property remained on the market for 30 days; this is two days longer than June’s pace but an impressive six days shorter than July 2016. Of all the homes on the market in July, 51 percent of them sold in less than one month. What’s more, for the past four months the average listing went under contract in under a month.

First-Time Buyers

The lack of supply will lead to more competition in the market this fall. This is not welcome news to first-time buyers; this group accounted for 33 percent of all housing market activity in July. This is up 1 percent from both a month ago and a year ago. For all of 2016, first-time buyers represented 35 percent of the market.

Some Gains, Some Losses

Although the demand for homes is high among first- time and veteran buyers alike, the lack of inventory is putting pressure on the sales pace. Existing-home sales increased in the South and West in July, but these gains were tempered by drops in the Northeast and Midwest. Overall, home sales fell 1.3 percent to a seasonally adjusted annual rate of 5.44 million, the lowest rate of the year to date; however, the sales pace is still 2.1 percent higher than July 2016. 
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Silver Alliance Realty is here to help you through all your real estate questions and concerns.  We make buying and selling your home SIMPLE!


Contact Silver Alliance Realty

Mary Platt
Designated Broker
(602) 618-6764



Tuesday, October 10, 2017

Check These Fall Maintenance Items Off Your To-Do List

Now that summer is gone and fall is here, it’s time to start your autumn to-do list. Here are some great fall projects:

Plant Beautiful Fall Blooms
Late summer and early autumn are perfect times to plant late-blooming flowers. Whether you accent
your front porch with hanging baskets or line your front walkway with colorful blooms, you can
enjoy gardening well into the fall season. 

Improve Your Outdoor Lighting
Autumn means longer nights and shorter days and is an ideal time for a lighting upgrade. If you have been meaning to add a spotlight above the front door, or if you long for a stone pathway lined with low-maintenance solar lights, fall is the perfect time to complete these projects.

Touch Up Your Exterior Paint
You do not have to repaint your home’s exterior to give your property the protection it needs. Just check for peeling and chipping paint and do your own small touch-ups. A few timely touch-ups now will protect your home and extend the life of the original paint job.

Clean Out Your Gutters
Debris can collect in gutters, which keeps rainwater from drain- ing properly. Once the water backs up, it can run onto the roof and down the siding, causing damage to the home. Clearing the gutters and redirecting water downspout extensions so water drains at least three to four feet away from the foundation can keep these things from happening. If you don’t feel comfortable on a tall ladder, you can hire a professional to clean and check the gutters.

Turn Your Ceiling Fans to Run Clockwise
In the summer, your ceiling fans are such a wonderful way to help keep your home cool. But did you know ceiling fans are also a great way to enjoy warmer air when the days get cooler? Run- ning your ceiling fans clockwise creates an updraft while simultaneously pushing down warm air from the ceiling.

Swap Out Your Furnace Filter
Fall is the perfect time to give your heating system a tune-up, and changing out the filters is a good place to start. You may also want to schedule a professional inspection and cleaning to keep your furnace running at peak efficiency all season long.

Clues in the Attic: Fall Roof Checkups Made Easy

"Roofs actually create an insulated barrier that helps trap heat inside, and most attic spaces are located right below them,” says Jason Joplin, program manager of the Center for the Advancement of Roofing Excellence, “That makes them perfect for spotting potential problem areas and damage without worrying about falling off a ladder."

Here’s What to Look for While up in the Attic:
• Water Leaks: After a rainstorm, shine a flashlight into the attic to check not only for dripping water and condensation but also for water stains on the ceiling, walls, and floors. All signal that H2O is finding its way beneath your roof’s shingles or behind its flashings.

• Ventilation: “Think of the attic as the lungs of the house,” advises Joplin. “It has to be able to breathe in order to function properly.” Which is to say, vents stuffed with debris need to be cleared.

• Animal Damage: Call a pest-control pro if you spot any of these telltale signs: nests, droppings, and gnawed wood, wires, or insulations. 
Article by Any Presentations 

Contact Silver Alliance Realty

Mary Platt
Designated Broker
(602) 618-6764
Mary@PlattTeamAZ.com