New Beginings

New Beginings

This time of year is a bitter-sweet time.... Don't you think??
There are so many things I had hoped to get done this year, that are still on my "to do" list; there never seemed to be enough time or money in the same box----and time is going so fast anymore, have your noticed?? Friends and family that moved to heaven, or just moved out of "dropping by" distance.

As I gather up my list for goals of next year, I can reminisce of my grand plans I had for this year.  And happy that I did meet some of my goals, paid off a few bills, there was a broken relationship restored, books that I wanted to read, actually got read, the pond put in my garden.

And now I am planning for next year with hopes and ambitions.  Meeting new people, voluteering at a local animal shelter, helping people with buying/selling/ or renting a home, continuing to plant in my garden are just a few of the things I've got on the list.  

2014~~It's a new begining, forgetting about what didn't happen or even what did and I want to forget, A time to renew my spirit with hopes that the economy will keep improving, and others will be able to move on with their lives also.

I think the country is ready to move on too, it may be just me, but I think that the country has a real resilience for keeping on keeping on.  I am grateful that the short sales are a thing of the past here in Az, altho many other parts of the country are still going thru; and the empty houses are not as common as they were a few years ago.  But I think, hope, that we are wiser and realize that there is no free money, and that it's not the governments job to keep us.  There's nothing like the satifaction of a job well done, something that WE have accomplished.

And so this year is almost over, but I am looking forward to next year.... What are your goals???
(You know, if you don't make any--- you'll hit them every time-- but where's the fun in that???)  

   

Normal

Normal...
As we settle back into Traditional sales, I hope that we will keep tucked in the back of our minds just how quickly it can all fall apart.

There are still pockets like Buckeye, and Maricopa that are still struggling to get out of the short sale/ foreclosure mess.   But over all, Arizona is 3rd in comeback of the housing crash. 

With that comes good news..... housing prices are going up, which is great--they are leveling off but now those who were underwater in their house, will be able to sell and move up and on. --- As long as they don't over price their homes because they have heard of the shortage and think they can cash in on supply and demand (it still has to appraise if financed).  I have noticed that every week the inventory is up by at least 200 new listings, that REO's (bank owned) are down and also the short sales are down as well. 

So what is normal?  There have always been foreclosures, and there have been short sales ( one of my first listings was a short sale 12 years ago).  Maricopa usually carries about 30-35K listings, and if the interest rates stay the same it should be a great time to sell, or buy.

Normal is forming to the standard or the common type; usual; not abnormal; regular; natural; serving to establish a standard.
In my life I can't think of anything ever being normal --- We are always changing, or striving to be better---- I hope!    The housing market included

Mortgage rates fall to 2-month low after Fed announcement

Rates on 30-year fixed-rate mortgages dropped to a two-month low this week following a recent announcement from the Fed that it would not begin to wind down its bond-buying program. Rates on 30-year fixed-rate loans averaged 4.32 percent with an average point of 0.7 percent for the week ending Sept. 26, down from 4.5 percent last week but up from 3.4 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey. “Mortgage rates fell following the Federal Reserve announcement that it will maintain its bond-buying stimulus,” said Frank Nothaft, Freddie Mac’s vice president and chief economist, in a statement. “These low rates should somewhat offset the house price gains seen the last number of months and keep housing affordability elevated.” Rates on 15-year fixed-rate mortgages, five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans and one-year Treasury-indexed ARMs also fell. Source: Freddie Mac

What's Normal??

Over the last 5-6 years the Real Estate market has been a real rollercoaster ride.

It saddens me that there are some out there that blame it on the REALTOR® --- Not that some may have had a hand in it, but the most of us just got caught in the act of trying to help our clients get a house.  It was pretty much the mirror test, (if you held a mirror up and fogged it, you got a loan.  But thank God those days are gone.  I just hope we have all learned something so we don't repeat again.

Which is what is troubling me now in the light of the multiple offers  on a property.  Understandable in that there aren't as many out there as need be to have a healthy inventory, but is it going to again inflate home values??

In a lot of ways, it is getting to be "normal" -- foreclosures are way down, and short sales do not out number the traditional sales, but we are still a work in progress with this.

Below I've attached a link that might give a little more insight

http://arizona.newszap.com/northvalley/123927-114/report-phoenix-housing-market-approaching-normalcy

Have a Great Week!

Joanne

First Time Buyers "Need to Know Stuff"

Here we go again-- You have decided to jump into the game and find a house, only to be out bid on mulitple offers again and again.

In the hopes that you have gotten it all together before you've started looking, you should have already contacted a lender to see just how much house you can start with; but just incase you haven't here is an article on some steps you should do before hand:

http://www.investinganswers.com/personal-finance/homes-mortgages/4-sure-fire-steps-finding-lowest-mortgage-rate-possible-6228

It's going to get better in the housing market, as the inventory has been rising at a good pace, and people are starting to see that they aren't upside down.

Keep looking, be ready, and when you find something---- move fast.