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What Does the Government Shutdown Mean for You?

by Lisa Bray

What Does the Government Shutdown Mean for You? 

What does the government shutdown mean for you? This seems to be the question of the day. With no resolution in sight, people across the nation are wondering how this will impact them, especially those who are planning to purchase a home with an FHA loan.

With limited staff, FHA underwriters are still working but other branches of the government that are currently close will limit access to important documentation required for loan approval. Most lenders require IRS transcripts and social security verification as a part of the loan approval documentation. Both of these government departments are working with limited staff.

Although the FHA is still technically working, the loan process could be delayed due to the shutdown. Regardless of this news, buying a home is still a good idea and as with any current event, the information available changes daily.

If you are interested in purchasing a home with an FHA loan, I would encourage you to speak to a qualified lender before you make any decisions regarding the government shutdown. Working with an experienced, knowledgably loan officer is imperative, especially during a time like this. If you need a recommendation, please call me today.

Lisa Bray

RE/MAX Professionals
www.LisaBray.com
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RE/MAX National Housing Report for October 2018

by Lisa Bray

RE/MAX National Housing Report for October 2018

The third consecutive month of lower year-over-year home sales in October contributed to the first year-over-year inventory increase in a decade according to the RE/MAX National Housing Report for October 2018. Meanwhile, the Median Sales Price recorded one of its lowest increases of 2018.

The RE/MAX National Housing Report for October saw sales decline 4.6 percent from a year ago – compared to sales drops of 11.6 percent in September and 1.1 percent in August – and was the eighth month of 2018 to record lower sales than 2017.

As a result, inventory is slowly being replenished, with the number of homes for sale in October increasing 1.0 percent over October 2017. October 2018 was the first month to show a year-over-year increase in inventory since October 2008 when two and a half times as many homes were for sale. The Months Supply of Inventory is now 3.5, compared to 3.3 a year ago.

“The market continues to move toward equilibrium. The modest inventory increase is a much welcome sign for buyers,” said RE/MAX CEO Adam Contos. “Although home sales were down year-over-year, it’s encouraging to see the magnitude of the decline decrease from the sharp drop we witnessed in September. The trend of easing price increases remains and that’s also a positive.”

October’s Median Sales Price of $236,000 marked the 31st consecutive month of year-over-year price increases and was the highest October price in the 10-year history of the report. Even so, the 4.9 percent gain was the third-lowest year-over-year growth of 2018.

Days on Market of 48 was an October record for fewest days and compares to 51 days in October 2017.

“The imbalance that has defined this market for so long continues to moderate,” said Contos. “However, it will take some time to recalibrate. Rising prices and interest rates and tight inventory levels continue. Buyer and seller expectations still appear to be a bit mismatched suggesting a choppy market remains in place.”

Click here to download your copy of the RE/MAX National Housing Report for October 2018. Looking to sell your Phoenix home or buy a home in the West Valley? Contact Lisa Bray today.I will be happy to provide a free market analysis of your home, and I am deeply committed to helping you reach your real estate goals on step at a time!

Lisa Bray

RE/MAX Professionals

www.LisaBray.com

602-762-3691
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“Delivering More than Just a Home”

June 2018 RE/MAX National Housing Report

by Lisa Bray

June 2018 RE/MAX National Housing Report

We’re already halfway through 2018 and the housing prices are at record highs, while inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report. June sales were 5.5 percent lower than June 2017 in the fifty-four metro areas surveyed, marking the seventh consecutive month of year-over-year declines.

Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high in the nine-year history of the report. It was 5.1 percent higher than the $245,000 recorded last June, bringing the consecutive months of year-over-year price increases to 27. In each of the previous five years – going back to June 2013’s $193,750 – June has posted the highest Median Sales Price of the year.

“Year-over-year prices have been climbing for more than two years now, which is great news for homeowners and sellers,” said RE/MAX CEO Adam Contos. “In the hottest markets, demand is especially high because there simply aren’t that many homes for sale. The slower sales figures we’re seeing are tied to inventory more than anything else.”

Forty-two of the fifty-four metro areas reported a year-over-year drop in inventory. That years-long trend is reflected in Months Supply of Inventory dropping to 2.7 – down 8.8 percent year-over-year and the smallest figure ever recorded for June. Fewer houses for sale generally results in a faster process: Homes sold in June averaged just forty-two Days on Market – five days less than June 2017 and three days under the previous nine-year low of forty-five days.

“Lack of inventory has become a theme for the year,” Contos said. “Having fewer homes to choose from poses a challenge for buyers, who need to be ready to act decisively and quickly. Working with a full-time, professional RE/MAX agent can prepare them for that.”

To access the housing report infographic, visit: https://rem.ax/2phKHWT or click here to download your copy of the June 2018 RE/MAX National Housing Report. If you would like to sell your Arizona home or find the perfect home for sale in Goodyear, Litchfield Park, Surprise, Avondale or the surrounding Phoenix areas, please contact Lisa Bray. I will be happy to provide a free market analysis of your home, and I am committed to helping you reach your real estate goals on step at a time!

Lisa Bray

RE/MAX Professionals

www.lisabray.com

602-762-3691
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“More than Just a Home”

3 Wonderful Ways to Celebrate 4th of July in the West Valley

by Lisa Bray

3 Wonderful Ways to Celebrate 4th of July in the West Valley

Independence Day falls on a Wednesday this year, so there are many celebrations leading up to the holiday and on the holiday itself. Here are 3 wonderful ways to celebrate 4th of July in the West Valley this year!

  1. Red, White and BOOM!: Celebrate the 4th of July at The Wigwam at their Red, White and BOOM event on July 4th from 6-8pm at the Blue Course of the Wigwam Golf Course located at 300 East Wigwam Blvd. Litchfield Park. The event includes live DJ entertainment, a Kid Zone with bounce houses & water slides. Unlimited rides & activities wrist band are available for purchase for $10 or $8 with active Military ID. Complimentary admission to the firework show on the first fairway of the Blue Golf Course. A variety of food & drink options are available for purchase. Bring your chairs, blankets, & beach towels! Click here for more event details.
  2. Star Spangled 4th:  Celebrate Independence Day at the spring-training home of the Cleveland Indians and the Cincinnati Reds. This free event includes live music (Shari Rowe, Groove Merchants), games, a hotdog-eating contest, a pitching contest, ziplines and fireworks. 6-10 p.m. Free admission, free parking. Goodyear Ballpark, 1933 S. Ballpark Way. Call 623-882-3120 or visit  goodyearbp.com for more details.
  3. Westgate Firework Fest: Enjoy the 4th at Westgate on Wednesday, July 4, 2018 from 5 p.m. to 9:30 p.m. with two music stages, family entertainment, a cool water zone, food from more than twenty restaurants, a lively bar scene and a pyrotechnic spectacular! Westgate Firework Fest is free and open to the public and located at 6751 N Sunset Blvd in Glendale. Click here for more details.

For more fun things to do in the West Valley, or if you want to buy a home in Goodyear or the surrounding communities of Avondale, Buckeye, El Mirage, Estrella Mountain, Glendale, Litchfield Park, Surprise, Peoria or Phoenix please contact Lisa Bray today. Hope you all have a safe and Happy 4th of July!

Lisa Bray

RE/MAX Professionals

www.LisaBray.com

602-762-3691

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“Delivering More than Just a Home”

Annual G.A.I.N. Event Returns to Goodyear

by Lisa Bray

Annual G.A.I.N. Event Returns to Goodyear 

Did you know? In 2014 Goodyear was voted as one of the twenty most improved cities in Arizona that has really put in the hard work to bring down their overall crime rate according to Safe Choice Security. That’s just one of the many reasons why Goodyear residents are excitedly planning the annual G.A.I.N. events return to Goodyear.

G.A.I.N., or Getting Arizona Involved in Neighborhoods, is the state’s answer to National Night Out — an “annual community-building campaign that promotes police-community partnerships and neighborhood camaraderie to make neighborhoods safer, better places to live.” G.A.I.N. is a “statewide day of celebration for the success of crime prevention through community involvement.”

Basically, G.A.I.N. is about getting to know your neighbors, recognizing who lives in your neighborhood and who doesn’t, keeping an eye on each other’s homes, organizing a Block Watch or Neighborhood Watch. Community involvement to make the community a safer place to live. And this year, the City of Goodyear is returning the event to its roots and encouraging neighborhoods to hold individual G.A.I.N. events to promote a better way for neighbors to get to know each other.

Goodyear’s G.A.I.N. event will be held from 9:30 a.m. to 1:00 p.m. November 7th and neighborhoods can register now through September 20th by visiting http://goodyearaz.gov/residents/neighborhood-services/g-a-i-n-. Registered neighborhoods will get an involvement kit with brochures, fliers and goodies to give to attendees; visits from city officials such as the mayor, council members, police officers and firefighters; and static displays such as police cars and fire trucks.

So spread the word to your West Valley neighbors and Goodyear neighborhood home owner associations to get involved in this wonderful event to promote safer neighborhoods in our community. As Neighborhood Watch puts it, the best crime prevention tool ever invented is a good neighbor. 

www.LisaBray.com

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“More than Just a Home”

 

More than Just a Home

by Lisa Bray

More than Just a Home

You may have heard or seen the phrase “more than just a home” on my website and blogs, but what does that really mean? More than just a home means that I am more than an educated and experienced REALTOR® trying to sell you sticks and bricks. I understand that owning a home is an exciting, emotional process and one that many invest not just their finances into, but their hopes, dreams, and family traditions as well.

Because of this, I am a passionate, tenacious real estate consultant committed to providing dedicated service and counsel to those looking to sell or buy a home in Arizona. I am honored to be an Arizona native and Goodyear resident and have proudly been helping people find their “more than just a home” dream in the West Valley since 2003.  I strive to build lasting relationships with my clients that go beyond just one home sale or purchase, because I want to be your real estate advisor for life. Here is just one of many client testimonials that I am honored to have received as a trusted real estate professional in the West Valley.

“Feeling blessed! Selling a home is such a tough job, especially in Goodyear, AZ. We thank God for having Lisa Bray as our REALTOR®. Lisa Bray is an excellent listener, very professional and Kept us abreast through the whole process! We highly recommend Lisa Bray for any real estate needs.”

I am dedicated to my clients and committed to helping you achieve your real estate goals with an informed, educated decision. So if you’re ready to sell your Arizona home or purchase a home in the West Valley including Laveen, Litchfield Park and Goodyear, please contact me today for a no hassle market assessment and your free buyer or seller report. Your complete satisfaction with my service and representation is my number one priority! -Lisa

www.LisaBray.com

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More than Just A Home

3 Things You Need to Know About the New FHA Premium Reduction

by Lisa Bray

3 Things You Need to Know About the New FHA Premium Reduction

Good news for potential buyers interested in purchasing an Arizona home this year. As of January 26th the Federal Housing Administration (FHA) has reduced the annual mortgage insurance premiums that new borrowers will pay from 1.3 percent to .85 percent. Here are 3 things you need to know about the new FHA premium reduction.

1.) Improving Economic Conditions

U.S. Housing and Urban Development Secretary Julián Castro announced in December of last year about the FHA’s plan to reduce the annual Mortgage Insurance Premiums (MIP) new borrowers would need to pay by half of a percent. The FHA’s recent annual report to Congress demonstrates the economic condition of the agency’s single-family insurance fund continues to improve, adding $21 billion in value over the past two years. 

2.)  Saving Homeowners Millions

The FHA’s new premium reduction is estimated to save more than two million FHA homeowners an average of $900 annual and spur 250,000 new homebuyers to purchase their first home over the next three years. The reduction will also significantly expand access to mortgage credit for these families and is expected to lower the cost of housing for the approximately 800,000 households who use FHA annually.

3.) New Loan Limits

FHA loans with balances above the loan limits in effect in most areas and with current MIP of 1.50 to 1.55 percent will see new premiums of 1.00 or 1.05 percent respectively. The upfront premium for all loans will remain unchanged at 1.75 percent. Borrowers with FHA Case Numbers issued on or after January 26 will be eligible for the new premium rates. Borrowers that were already in the process of getting their FHA loan will temporarily be allowed to cancel Case Numbers issued before that date through their lenders.

If you are looking to purchase an Arizona home this year and would like more information about qualifying for a home loan in the West Valley, please contact Lisa Bray today!

www.LisaBray.com

602-762-3691
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More Than Just A Home

 

Displaying blog entries 1-7 of 7

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