The Valley's
Leading Agent
Russell Shaw
March 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!


Everything You Should Know about a HELOC
During 2020, a lot of people decided to make a change in their lifestyle. The coronavirus pandemic led to shutdowns across the country and the world. For people in big cities, that presented a set of challenges. With limited space and access to the things that are so appealing about city living, many people opted to move to suburban areas.
      There were bidding wars, and prices soared during 2020, and now a lot of those buyers are looking at ways they can renovate the homes they bought as we head into a new year.  
      Even if you’ve been in your home for a long time, you may still be eyeing a remodel in 2021 to make it more in line with your dream
Mortgage Rates
U.S. averages as of March 2021:


30 yr. fixed: 2.97%
15 yr. fixed: 2.34%
5/1 yr. adj: 2.99%






dream house, especially if you’re spending a lot more time there.
      Options for financing a remodel can include loans, and for some people borrowing against the
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How Much Should A Down Payment Be?
     If you’re planning to buy a new house, a big part of that is saving for a down payment. Your down payment is the money you put down when you close on a mortgage. Lenders will often describe down payments in terms of percentages.
      A down payment represents what you initially own when you buy a home. Then, the remainder comes from your lender.
      The standard is often referred to as 20%, but is that the reality?
      Paying a 20% down payment may make you feel like ownership isn’t attainable for you, but is that truly how much you have to or should pay?
      The following are considerations to keep in mind for your down



What Should You Know If You Inherit a House?
     Inheriting a house can bring about a range of emotions. You might feel sad because it likely means you’ve lost a loved one. It can also be overwhelming to know what steps you should take next and what the financial implications are. It can also be exciting because a house can be a huge asset.
      So what should your first steps be if you inherit a house?
      You essentially have three options if you find yourself in this situation. You can sell it, move into it or rent it to someone.
      Initial Considerations First, when you inherit a house, you’ll have to think about the legal and financial responsibilities that come with it. There may be debt obligations, for example. You also have to think about the tax liabilities that come with inheriting property, which may include capital gains and federal estate taxes.
      If you inherit a home, there’s no

July 2020 Phoenix Video Market Update

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THE VANISHING HOME SUPPLY

It is becoming harder and harder to find the words to adequately describe the extraordinary lack of homes for sale and the unbalanced market it is creating.  This phenomena is not confined only to the valley, but is occurring across most of the country as well.  If we were old Mother Hubbard we would rightly say the cupboard is bare.  It is not excessive demand that is the problem –the real problem is supply.  New listings coming to market are arriving at a trickle.  That is the problem.  Properties for sale are down 61% from this time last year.  Combined with still inadequate new build properties, there are simply too few homes for sale to house those who wish to live here.  To quote Michael Orr of the Cromford Report:

It is difficult to describe the state of the housing market in Greater Phoenix these days. Just quoting the raw facts makes many people feel you are exaggerating wildly. There are those who seem to believe it cannot really be true when so many people are struggling with their daily lives, battling the worst pandemic we have seen for many decades. However we can only continue to present the facts. The housing market is experiencing moderately strong demand, but this is not the important matter. Variations in demand are almost insignificant. This is because the supply of re-sale homes is so poor it crashes below all time record lows almost every week…

The supply situation is the worst we have ever recorded, lower than the first quarter of 2005, which used to hold the record….

So if inventory is at all time lows, what is going to fix this?  The rebalancing will come from additional supply (building) and higher prices.  The theory of supply and demand says that prices will rise (as they have 3% in just the last month) and that eventually higher prices will dampen demand.  This will happen.  The question really is how soon and how high will prices have to go.  Correction may take some time.  Keep reading our newsletters – we promise to keep you informed on the changes. 

Russell & Wendy



  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®
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


Equal Housing Opportunity

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