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Sell, Sell!!!

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July 3, 2018

One of my all-time favorite movies is Trading Places. It stars Eddie Murphy and Dan Aykroyd. There are so many classic lines in that movie, but one memorable quote really stands out to me – especially in our current Real Estate market. That line is “sell, sell!” Randolph Duke (played by Ralph Bellamy) is physically assaulting his near-comatose commodities trader after getting beaten up on the exchange floor to get back in the market to sell their commodities during a run on the market unfavorable to Mr. Duke’s position.

I know there are many homeowners who feel like that poor broker in the movie. They were beaten up by the collapse in the real estate market in 2008. Well, in my best Randolph Duke impression, I am here to get you prospective sellers in the market and sell, sell!

Currently the Valley’s Real Estate market, like its temperatures in July, is really heating up. We are seeing 57 days closed on market. Average list price is $539,000. Average sales price is $335,000. Inventory remains low and continues to fall. What does this mean? Essentially, we have a serious seller’s market.

If you are considering selling your house please contact us right away by phone at 602-750-7913, or email at dnolle@nolleproperties.com for a comparative market analysis of your home so you can be looking good and feeling good like those guys in the picture below.

Metro Phoenix Real Estate Market Analysis

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At Nolle Properties we like to provide our followers with the most up-to-date analysis of the current real estate market in metro Phoenix. We encourage you to invite your friends and family to like and follow our Facebook page to stay on top of the local real estate market.

As you can see from the chart above, the current average list price is at $567,536, and the average sale price is $325,455. The list price to sale price is getting just over 98%. That is good news for those of you who have been waiting for the right time to sell. Now is the time to list your house for sale to capitalize on your equity!

The market for homes valued between $450,000 – $600,000 continues to remain on fire! The inventory of these homes on the market continues to remain low and that lack of inventory continues to push prices up.

So, what does this current real estate market mean for you? If you are a seller, this is the time to list your house! The average sale prices of homes are up 15.45% from January of this year alone! Sellers are no longer negotiating as much on contracts which is putting pressure on buyers because there is scarce inventory.

If you are a buyer and there is a house that you like on the market today, you need to act fast! Contact us to go preview properties and be ready to make an offer right away because we are seeing multiple offers being made on homes in the $250,000 – $350,000 range.

For our renters, this is the time you need to make a move! If you have been renting because you have been on the fence deciding whether or not to buy, this is your time to strike! If you are waiting for your perfect home, keep in mind that 80% of your perfect home is 100% better than renting. Your perfect home just may not be out there. Find something that is close to perfect and jump on it because quite frankly, it is not going to be available for sale next week in this market – especially in that $250,000 – $350,000 range.

As always if you have any questions or would like to meet with me, please either email me at dnolle@nolleproperties.com or call me at 602-750-7913.

Using Your Tax Refund to Jumpstart a Down Payment for Your New House Today

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Look, I know the last thing you want to read on April 17, 2018, is an article regarding taxes. But hear me out, I just might be able to help you get into the house you have been wanting! So, go grab a glass of Pinot Noir and order a pizza for delivery. I will wait for you to return.

Good, you’re back and you even slipped into something comfortable. I won’t tell! Did you know the average American is going to receive approximately a $2,800 refund in taxes this year? In Arizona the average tax refund is approximately $2,640. That amount of money may be the catalyst you have been waiting for that ultimately puts you in your new home!

Many first-time buyers believe that a 20% down payment is required to qualify for a mortgage. However, you don’t need 20% down to buy a house. Various programs like the Federal Housing Authority, Freddie Mac, and Fannie Mae, all allow down payments as low as 3%. For all the veterans out there, Veterans Affairs Loans allow many veterans to purchase a home with 0% down.

If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment? In Arizona, 37% of the average down payment can be covered by the average tax refund. Plus you will earn a tax deduction on the interest of your mortgage for next year’s filing. It’s the ultimate gift that keeps on giving! See, aren’t you glad you read this?

Instead of using that big tax refund for buying the latest and greatest TV from Best Buy that depreciates in value, use it toward an appreciating asset like real estate.

Sales prices are already up 15% compared to this time last year. So use your tax refund to help you improve your return on your investment. And go ahead and pour that second glass of wine. You’ve earned it!

If you have any questions or comments, please feel free to email me at dnolle@nolleproperties.com.