The Valley's
Leading Agent
Russell Shaw
January 2020
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!

Should You Buy a Fixer-Upper?
Home prices continue to rise, which is keeping many a renter out of the market. But, fixer-uppers present a potential opportunity. For starters, the lower prices create the affordability that is lacking in other segments of the market. So should you be looking for one? We’re breaking down the pros and cons.
      The ability to buy a house: Median home prices are at a record high, while affordability is at one of its lowest points. The reality for many people is that there seems like there is no end in sight to renting. A fixer-upper may present an opportunity simply because of the lower price point that gets you in the door.
      Pride of
Mortgage Rates
U.S. averages as of January 2020:

30 yr. fixed: 3.74%
15 yr. fixed: 3.19%
5/1 yr. adj: 3.45%

of ownership: Pride of ownership is a real thing for homebuyers. And that pride grows even stronger when you’ve had a hand in making
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Real Estate Market Predictions for 2020
     If it’s the end of the year, it must be time for the soothsayers to come out. When it comes to predictions for the real estate market, well, there are a lot of them. We’ve taken the temperature of the experts to get a feel for what we can expect in 2020. 
      Grain of salt warning: There was widespread agreement in 2018 about rising mortgage rates in 2019, that, initially proved true. But, ultimately rates went down—and stayed there. Experts can make educated guesses based on a wide range of economic factors, but with an impeachment hearing in the Senate pending and what is likely going to be a bonkers presidential election, anything could happen. That being said, there are some predictions we feel pretty good about—and some you’ll

8 Tips for New Homeowners Moving to a New State
     No matter why you’re moving, whether you got a brand new job in a different city or simply want a change of life, it can be tough to relocate. And all of that doesn’t even take into account the process of moving all of your belongings from one state to another. In this guide, we will be going over some tips to help you pack up your life and move to a whole new state.
      1. Do plenty of research. Before you actually start the moving process, you should start by researching the city to which you plan to relocate. From local shops to schools and food chains, you should know exactly what your new city has to offer. We highly suggest doing a thorough internet search or, if possible, even driving through the city to get a better understanding of the area.
      2. Search for your new home. Before you take the plunge and move to a new city, you should spend at least a couple months beforehand finding a new home.

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2020 Begins

“…if you don't know where you are, you don't know where you're going.”  Terry Pratchett.

2019 was an unusual year.  It began as a gentle seller’s market which was decidedly shifting towards a balanced market.  Until it wasn’t.  Once the spring buying season got underway, the direction changed rapidly.  Active inventory hovered at 24,000 active properties for sale February through April – well above 2018 levels.  But by June that reversed course dropping below 2018 numbers.  Supply continued to drop while demand held strong throughout the rest of the year. Despite the typical seasonal pattern of more supply and less demand (i.e. end of year slowdown) - 2019 ended with contract and seasonal trends looking much stronger than normal. Contracts were up, supply of homes was down.  As of this writing, supply stands at 15,746 properties for sale (12,682 if we remove homes under contract).

So was 2019 really just 2006 all over again?  No.  But not surprisingly the low inventory combined with healthy demand has allowed for a few records to have been set.  In June, we set the highest monthly record of number of home sales at 11,705 (compare that to the low record set January of 2008 at 2,517).   We should be mindful, however that there are more homes to sell in 2019 than existed in 2005/2006. Active listings price per square foot also hit a record of $242.95 per square foot on 12/29/19.

To summarize, we expect 2020 to intensify the patterns of 2019.  Of course, supply and demand is a scale that will balance eventually.  Prices rise which eventually dampens demand, dropped demand allows for more homes on market equalizing the balance of power between buyers and sellers.  The only question is when will the rebalance occur?  As soon as the market answers that question, we will share it with you.  In the meantime, here’s to a wonderful 2020.

  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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New Year’s Resolutions for Home
How to Know You Have Found the Right House

Russell Shaw, Realtor®
Toll-Free 866-357-3604
Realty ONE Group
11211 N. Tatum Blvd., Ste. 100
Phoenix, AZ 85028

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