As I'm sitting in my weekly meeting a loan officer with Citi has informed us interest rates are on the rise. It has gone from 3.5% to 4.5%. You can't go wrong with this rate as it's still great but just to inform you if you are looking to purchase a home, rates are rising and it doesn't look like they are going to come back down. If I had a crystal ball I would let everyone know.
There are currently 12,009 single family homes in Maricopa County. Still not a lot of inventory and the good ones are still going fast. Some sellers are overpricing their homes but buyers are sometimes paying these prices. I have noticed with some buyers the appraisals have come in less and yes the seller has come down or met the buyer half way, therefore the buyer still had to come in with extra cash. Everything is negotiable.
As a seller, still make sure your home looks good. Clean up after yourself, de-clutter your home, fix anything which needs fixing, etc. It is a turn-off even in today's market. If you don't take care of your home a buyer may think there are other problems with the home which have been neglected.
For a buyer, make sure you are pre-qualified. If not contact a lender and get approved. Have all your paperwork in so there are no waiting periods and the lender can move your transaction and make it a smooth process. We want to close on time and get you into your new home.
I would love to help you if you are looking to buy or sell. Please contact me at 480-695-9683 or at marcigcox@gmail.com
