Prospective homebuyers who have their fingers crossed that metro Phoenix home prices will crash this year so they can find deals will be disappointed. The Valley’s median home price is poised to hit another record. Many buyers are scouring for deals as last year’s Phoenix-area median home price hit $268,000 in June, an all-time high. More than half of metro Phoenix neighborhoods posted double-digit price increases in 2018, The Arizona Republic’s latest Street Scout Home Values report shows. And most … [Read more...]
16 Ways To Tell If That Fixer-Upper Is Flipworthy
April 11, 2019 by Leave a Comment
1. It Makes Financial Sense to Buy It Before investing in a fixer-upper, do some quick math to make sure that it will actually be a good investment. “There’s a crude rule of thumb in the flipping world called the ‘70 Percent Rule’ — never pay more than 70 percent of the [after repair value], minus repair costs,” said Brian Davis, real estate investor and co-founder or SparkRental. “Thus, if the ARV is $200,000, and the repair costs are $50,000, a flipper shouldn’t pay more than $90,000 for … [Read more...]
Why you should sell your home in 2019
April 2, 2019 by Leave a Comment
Few people are predicting that 2019 will be a record-breaking year for home prices. But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you don’t. “I think it’ll be better than 2020 and 2021 – who knows what’s going to happen in those years,” Ron says. Home price growth slowed in … [Read more...]
The 4% Mortgage is Back
March 29, 2019 by Leave a Comment
Mortgage rates are fast approaching 4%, a rate low enough that economists and lenders believe it will help jump-start the housing market again. The average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018, according to data released Thursday by Freddie Mac, the mortgage-finance giant. The rate was down nearly a quarter point from a week earlier, its biggest drop in over a decade. In many cases rates are lower than 4%. Lenders advertising mortgages at sub-4% rates this week … [Read more...]
