The Valley's
Leading Agent
Russell Shaw
October 2021
Real
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!


5 Things You Need to Know About Your Paycheck Stub
When lenders verify and validate information included in your mortgage loan application, with all due respect, they don’t simply take your word for it. While you may enter your monthly income on the application, they will use that amount initially to preapprove you but will eventually contact your employer directly to verify what you make each month. Part of that process also asks you to provide them with copies of your most recent paycheck stubs covering a 30 day period. In this way, lenders verify your monthly income used for a final approval. But your monthly income is only part of the validation process.
      The first of course is to look at the monthly gross pay for each month. If
Mortgage Rates
U.S. averages as of October 2021:


30 yr. fixed: 3.01%
15 yr. fixed: 2.28%
5/1 yr. adj: 2.48%






If you get paid on the 1st and 15th, lenders add those amounts together for use in qualifying. Note, this is the gross or ‘before withholding’ amount. If you get paid every other week,
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7 Signs It’s Time to Downsize
     Downsizing a home is almost inevitable for many older people. Once your children are out of the house, you don’t need and probably don’t want as much space as you once had. Downsizing can be smart financially and give you a new lease on life, but it can also be an emotional decision to leave your home behind.
      The following are seven signs that it might be time to consider downsizing, even if you’re a bit hesitant.
      1.) Your Neighborhood No Longer Suits Your Lifestyle The location of your home can be as important to your lifestyle as the features of the house itself. When you bought your home, maybe your neighborhood was filled with young children or was close to the best



Pulling Off Granny Chic Décor Style
     Granny chic décor style isn’t necessarily new, but it does remain incredibly popular right now. You probably never thought you’d be trying to make your house look like your grandma’s, but here we are. Sometimes also called grandmillennial, what this style is all about is combining old and new.
      It’s sometimes a tricky design style because it can be too overdone or not done enough.
      The following are some tips and things to know about this particular style of décor and interior design.
      The Core Features When you want a grandmillennial or granny chic home, think about that unique juxtaposition that can happen between old and new.
      Some of the things to remember are patterns, light, texture, and memories. That might mean stacks of old books, family photos or vacation photos in mismatched frames, or floral prints on the

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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.
More Articles
September Real Estate Roundup
How to Give Your Décor a Sustainable Makeover
Will You Finance? How to Answer This Question
The Best Benefits of Houseplants
Earnest Money vs. Down Payment: How Do They Compare?


Russell Shaw, Realtor®
E-mail: russell@nohasslelisting.com
Website: http://www.NoHassleListing.com
602-957-7777
Toll-Free 866-357-3604
Realty ONE Group
602-957-7777
11211 N. Tatum Blvd., Ste. 100
Phoenix, AZ 85028


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