The Valley's
Leading Agent
Russell Shaw
January 2022
My team and I help more people move than any other agent or team in Arizona. I'm not bragging, I'm applying for a job. I want to be YOUR Realtor!

2022 Real Estate Market Predictions
It’s hard to believe we’re already approaching 2022, yet here we are. The new year has a lot of people planning for what’s ahead financially. As part of that, you could be wondering if you’re going to have a chance to buy a home next year after 2021 left few opportunities.
      So what are the predictions looking like for the coming year?
      Cities Could Surge Again People may become comfortable with big cities again, following the pandemic's start, where many people relocated to the suburbs and less expensive states. That means some areas in the Northeast, Southeast and the West Coast could see an increase in real estate
Mortgage Rates
U.S. averages as of January 2022:

30 yr. fixed: 3.05%
15 yr. fixed: 2.3%
5/1 yr. adj: 2.37%

course, we don’t know how the pandemic will continue to unfold and whether that’s going to play a role in how willing or reluctant people are to make a move back to
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These Projects Could Lower the Value of Your Home
     When you think about a home project, you really have to consider how it will affect the value of your property if you ever want to sell it. It’s best to invest in projects that will give you a good return in terms of raising the value of your home.
      Unfortunately, some projects may give you no return, or they can even hurt your resale value.
      Think twice before doing some of these projects unless you truly don’t ever plan to sell your home.
      Do-It-Yourself Projects That Look DIY If you have the skills to do a DIY project in your home, it can add value to your home. In some cases, however, DIY projects can be very apparent and can turn off potential buyers. For example, if you’re

Can You Buy a House If You’re Unemployed?
     A lot of people in the United States are unemployed right now for various reasons. At the same time, many people are also hoping to buy a new home. Can you buy a home if you’re unemployed?
      The short answer is that no, you can’t use your unemployment benefits to get a mortgage, but other options may be available as far as the income you can use.
      What Other Income Can You Use to Buy a Home? There are many types of income you may receive that could be considered if you were trying to get a mortgage. If you have investment dividends or Social Security income, these can be counted as income to get a mortgage.
      If you have a co-signer, this is another option.
      Unemployment income isn’t considered when you’re applying for a mortgage because it’s short-term. Therefore it’s not qualified income. If you get a mortgage while you’re

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Signs of a cooling market


The Phoenix housing market is cooling, but it is far from cold.  Here are some interesting numbers from the Cromford Report.  From April 1st to October 1st, the number of homes for sale in MLS rose 92% going from 3,591 to 6,883 active listings (supply). In the same time frame, listings under contract dropped 9% (demand). Rising supply with lowered demand says the market is shifting.  Especially concerning is the lowered demand from owner-occupying buyers who are the heart of the housing market.  But before we panic, it is important to note that a count of 6,883 active listings is still extremely low. To put that in perspective, supply is still 45% lower than the pre-pandemic 2019 seller market and 68% below the last balanced market of 2014.  As of the writing of the newsletter, the active listing count has just risen above 8000 for the first time since late 2020.  But even with the numbers remaining well below normal, the rising trend is notable.  In “normal” markets the supply typically does not rise between April and October.  But it did this year. Additionally, other sources of inventory are around the corner.

Possible supply increases

Forbearance agreements are expiring – causing many to expect additional supply of homes for sale from troubled homeowners.  While most people in forbearance retain their homes, about 20% on average elect to sell.  Add to that another anticipated source of homes for sale: the iBuyers (Open Door, Offer Pad, Zillow, etc) The iBuyers bought very heavily – in what appears to almost be a turf war over who could buy the most.  As of this writing, Zillow has just announced they will not purchase any more homes through the end of 2021.  Given the number of homes they purchased, it is not surprising they called a halt, but this will affect demand.  The total iBuyer purchases hit an all-time monthly high in August with 1145 homes purchased (up 533% over August 2020).   Add to that September buys of 1062 (up 471% over last year) and they are carrying a lot of inventory that is scheduled to arrive to market soon.

Where is our market heading?  It is hard to guess given the trends have been somewhat masked by the investors dominating the market.  But, we think most likely sellers will find 2022 a very different market than 2021.  If you have questions about the market or cash offers vs traditional selling, contact us!  We are always here to advise and help.

Russell & Wendy Shaw

  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Russell Shaw, Realtor®
Toll-Free 866-357-3604
Realty ONE Group
11211 N. Tatum Blvd., Ste. 100
Phoenix, AZ 85028

Equal Housing Opportunity

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