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Habitat for Humanity’s Deconstruct Service

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– Habitat for Humanity Central AZ’s Deconstruct Service –

We are big fans of Habitat for Humanity and support them via our affiliation with Give Back Homes. Joyce even participated in a local Build Day last Fall.

In addition to building new homes for people in need, Habitat for For Humanity also helps with Home Repairs, including Emergency Repairs in Glendale and Tolleson.

Besides funding it receives from donations, Habitat for Humanity Central AZ also operates ReStores where they sell donated and salvaged items to the public. The funds generated from the stores’ sales then go back to new build and repair projects. There are currently three ReStores around the Valley – Phoenix, Anthem and Peoria. A fourth location in Tempe is coming as well.

He told us about a program Habitat for Humanity offers that is a win-win for all parties involved – Habitat’s Deconstruction Service. 

Recently, at an open house, we met the President and CEO of Habitat for Humanity Central AZ and we got to talking about their services. He told us about a program Habitat for Humanity offers that is a win-win for all parties involved – Habitat’s Deconstruction Service. 

Let’s say a homeowner is going to do a remodel or renovate their kitchen or bathroom. Rather than pay for someone to demo the space, the Habitat Deconstruction Team will come in and determine which bathroom fixtures, doors, appliances and kitchen cabinets can be salvaged. Then, they will go ahead and do the demolition at no-cost and remove the salvaged items. The removed items will then go to be sold in the Habitat ReStore for sale. And, on top of that, the homeowner will get a tax receipt for their donation. Like I said, it is a win-win for everyone.

Interested in learning more about Habitat’s Deconstruction Service or want to sign up? Click here for additional details.

Interested in Volunteering with Habitat for Humanity Central AZ? Here are ways you can give back.

Disclaimer: Information deemed reliable, but not guaranteed.

Where to Eat in Scottsdale: Breakfast Kitchen Bar

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– Breakfast Kitchen Bar in Scottsdale Quarter –

I am always on the lookout for places I have not tried yet and was excited to try Breakfast Kitchen Bar located in Scottsdale Quarter.

It was a beautiful day out, so most people were taking advantage of patio seating. However, the whole front of the restaurant was opened up so we could all enjoy the fresh air and great temperatures.

The decor of Breakfast Kitchen bar is contemporary, open, cheery and bright and our server was very friendly and took good care of us.

The menu has a great balance of breakfast and lunch items and overwhelmingly features fresh and healthy selections. There are lots of grains, fruits, vegetables and more, but there are also many items that will satisfy all food preferences and hunger levels.

On the breakfast side of things, you can order breakfast burritos and bowls, omelets, Benedicts, pancakes and waffles, French toast, smoothies and more. One of the options I like is that you can substitute out bread products with broccoli and cauliflower cakes.

Breakfast Kitchen Bar brunch

There is also a whole Healthy Options section featuring grain bowls and protein plates where you get to pick and choose your items.

On the lunch menu, you will find several large salads as well as hearty sandwiches and burgers

Since we had an early dinner that night, we did not order a lot. My companion opted for the Power 5 Breakfast Steel Cut Oats. It came with tons of fresh berries, fruit, a combination of oats and quinoa and more. It looked and tasted fantastic.

We also ordered the Spicy Chicken Sandwich, which was cooked perfectly and had just the right amount of spice.

We did not try any of the ‘bar’ options on this visit, but would love to come back for mimosas soon!

Overall, it was a great meal that hit the spot. This is one place I plan to visit over and over.

More Information:
Breakfast Kitchen Bar
Scottsdale Quarter
15147 N. Scottsdale Rd.,  Unit H133
Scottsdale, AZ 85254
Phone: 480-361-6698
Website

Hours: Open Daily from 7AM to 2:30PM

Things To Do in Scottsdale – April 2018

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– Scottsdale Events April 2018 –

Downtown Scottsdale AZ GalleriesScottsdale’s high season events are still underway and there are a lot of fun things planned for April, including a lot of food-related events! Here is a list of some things going on in and around Scottsdale.

  • Arizona Wine and Dine – April 5th – Head on over to Scottsdale Quarter to experience this annual event. Food from the area’s top hotels and resorts will be served and there will be drinks, live music, socializing and more.
  • Golden Palette Scottsdale ArtWalk – April 5th – This special edition of the ArtWalk in Old Town Scottsdale is called “A Taste of Scottsdale: Eat Drink and Art.” It will run from 6:30PM to 9PM.
  • Phoenix Film Festival – April 5th – April 15th – The Phoenix Film festival will kick off this year’s event with a party on April 5th. Then, for the next ten days, films of all lengths from all genres and from all over the globe will be screened at the Harkins Scottsdale 101.
  • Uncorked Wine Festival – April 7th – Salt River Fields will be hosting this afternoon event featuring over 50 wineries and over 100 wines from all over the globe. Food will be available for purchase as well. (Over 21 only.)
  • Arizona Bike Week – April 11 – April 15th – Arizona Bike Week will be taking over WestWorld of Scottsdale in April. Besides the bikes, there will be flat track racing, several concerts, (including ZZ Top) and so much more.
  • Scottsdale Culinary Festival- April 14th – April 15th – This is the 40th anniversary of this great festival at the Scottsdale Civic Center Plaza. Food offerings include BBQ, American, Latin,  Asian, European and more. An Everclear and Eve6 concert will take place on Saturday.
  • Nirvana Food & Wine Festival – April 19th – April 22nd – The Sanctuary on Camelback Mountain is home to this event again which features lots of food and drink-centered events, including the “Rosé Parte”, wine dinners and a Tortillas and Tequila event. High-profile celebrity chefs, local chefs and celebrities will be in hosting and in attendance.
  • Junk in the Trunk Vintage Market – April 27th – April 29th – Come find special treasures and this vintage flea market event. Taking place at WestWorld, there will be over 100 vendors.

As always, this is only a small number of things going on in and around Scottsdale in April. Please feel free to add other events in the comment section.

Scottsdale AZ Luxury Home Market – February 2018

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– Scottsdale AZ Luxury Home Market Performance for February 2018 –

We are now two months into 2018 and things are moving along.

In this report, I am taking a look at luxury home sales in Scottsdale and am including all homes with asking prices of more than $1 million. The date covers the past 12 months of activity an has been broken down into four price points to show additional detail.

Each month, we track the following items:
Active – The number of homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – The number of homes sold during the month.


– FEBRUARY 2018 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory was up a little over 3% between January and February.
– UCB Scottsdale Home Sales: UCBs dropped slightly to 38 in February, but this is still the second highest this has been in the past year.
– Pending Scottsdale Home Sales: Pending sales more than doubled to 38 at the end of February. This is the highest they have been in the last year.
– Scottsdale Homes Sold: Thirty-six homes sold. This is just ahead of the 12 month average.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: The number of homes for sale fell slightly by the end of the month.
– UCB Scottsdale Home Sales: UCB sales were down by one and fell below the 12 month average.
– Pending Scottsdale Home Sales: Pending sales also fell between January and February.
– Scottsdale Homes Sold: Thirteen homes sold in February, which is not bad, but not stellar.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount off of list price of 5.2%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory was up almost 9% to 198 by the end of the month.
– UCB Scottsdale Home Sales: UCB sales fell over 44% to five, slightly under the 12 month average of six.
– Pending Scottsdale Home Sales: Pending sales saw a nice uptick to 17, well ahead of the 12 month average.
– Scottsdale Homes Sold:  Nine home sold in February, which is a very solid sales month for this price point.
– Sales Price to Listed Price: 95.8% – On average, buyers saw a discount off of list price of 4.2%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down slightly compared to January.
– UCB Scottsdale Home Sales: UCB sales ended the month at four, on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales doubled to six, which is just ahead of the 12 month average of five.
– Scottsdale Homes Sold: Only two homes sold in this price point during February, so it was a slow month,
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount off of list price of 3.4%.

February ended up being a solid sales month for the Scottsdale luxury home market. We did see some volatility, but we also saw some promising pendings and UCBs.

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2018 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2018 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – February 2018

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– Luxury Condo Sales in Scottsdale and Phoenix – February 2018 –

This report will cover the luxury condo market in Scottsdale and Phoenix during the month of February 2018. I am including any condos listed for $1 million or more as part of the luxury market.

ACTIVE LISTINGS AT THE END OF FEBRUARY

At the end of February, there were fifty-three luxury condos for sale. Thirty-three of the units were located in Scottsdale and the remaining twenty were in Phoenix.

The highest priced condo is a carryover of a few months. This 4,059 square foot penthouse with three bedrooms and three and one-half bathrooms at the Plaza Lofts at Kierland was listed for $3,195,000.

The lowest priced condo was listed for $1,049,000 and was located in the Optima Camelview community. It had three bedrooms, two bathrooms and 2,200 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

February finished the month with three units in UCB status. All three were located in Scottsdale and two of them are carryovers from 2017.

  • The first was in Main Street Place, a new community in Old Town. It had two bedrooms, two and one-half bathrooms and 2,345 square feet. It had been on the market for $1,265,000.
  • The second was in a community we do not see a lot in this report, Safari Drive. This contemporary 2,417 square foot penthouse has two bedrooms and two and one-half bathrooms. It was listed for $1,399,999.
  • The final UCB was a unit in the Plaza Lofts at Kierland. Listed for $1,850,000, this condo had two bedrooms, two and one-half bathrooms and 2,162 square feet.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of February, there were six pending sales of luxury condos. All of them were located in Scottsdale, except for one.

Pending Condos in Scottsdale

  •  This Main Street Place condo has been pending for months as the community was being built. It was on the market for $1,975,000 and 3,563 square feet, three bedrooms and three and one-half bathrooms.
  • There was a single pending sale at the Enclave at the Borgata. This unit had three bedrooms, three and one-half bathrooms and 3,016 square feet. Its list price was $1,450,000.
  • Scottsdale Waterfront Residences also had a pending sale. This condo had 1,780 square feet, two bedrooms and two bathrooms. It was for sale for $1,100,000
  • The final two pending sales were in the Optima Kierland, a new community. The first was a three bed and bath home with 1,706 square feet. It was listed for $1,075,000. The second was a two bedroom, two and one-half bath unit with 2,283 square feet. It was listed got $1,653,000.

Pending Condo in Phoenix

  • This pending is a carryover from January. It is a condo at Portland on the Park and had two bedrooms, three bathrooms and 2,105 square feet. It was listed for $1,250,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were five luxury condo sales in February, and all of them were in Scottsdale.

Scottsdale Luxury Condo Sales

  • Two of the five sales were in Optima Camelview. The first unit had three bedrooms, three and one-half bathrooms and 2,299 square feet. It had been on the market for $1,549,000 and sold for $1,500,000. The second sale was for a three bedroom, two bathroom, 2,258 square foot unit. It had been listed for $1,290,000 and sold for $1,125,000.
  • Two more of February’s sales were in the Main Street Place community. The first sale was a two bedroom, two and one-half bathroom, 2,345 square foot unit. The list price was $1,165,000 and it sold for that amount. The other sale was also a two bedroom, two and one-half bathroom unit, but this one had 2,520 square feet. It was listed at and sold for $1,300,000.
  • The final sale in February tool place in the Envy Residences. On the market for $1,425,000, this condo had two bedrooms, two and one-half bathrooms and 2,449 square feet. It sold for $1,380,000.

 

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer:  Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2018 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2018 Heather Tawes Nelson | Joyce Tawes

 

The Home Buyer’s Guide to Getting Mortgage Ready

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Home Buyer Mortgage Pre-Planning

Photo by Got Credit

Don’t wait until you’re ready to move to start preparing financially to buy a home. If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage. Plus, if you are buying a home in a popular price point, you will be able to hit the ground running.

The requirements to secure a mortgage may seem overwhelming, especially if you’re a first-time buyer. But we’ve outlined three simple steps to get you started on your path to homeownership.

And, even if you’re a current homeowner, it’s a good idea to prepare in advance so you don’t encounter any surprises along the way. Lending requirements have become more rigorous in recent years, and changes to your credit history, debt levels, job type and other factors could impact your chances of approval.

It’s never too early to start preparing to buy a home. Follow these three steps to begin laying the foundation for your future home purchase today!

STEP 1: CHECK YOUR CREDIT SCORE

Your credit score is one of the first things a lender will check to see if you qualify for a loan. It’s a good idea to review your credit report and score yourself before you’re ready to apply for a mortgage. If you have a low score, you will need time to raise it. And sometimes fraudulent activity or erroneous information will appear on your report, which can take months to correct.

The credit score most lenders use is your FICO score, a weighted score developed by the Fair Isaac Corporation that takes into account your payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%).1

Source: myFico.com

Base FICO scores range from 300 to 850. A higher FICO score will help you qualify for a lower mortgage interest rate, which will save you money.2

By federal law, you are entitled to one free copy of your credit report every 12 months from each of the three major credit bureaus (Equifax, Experian and Transunion). Request your free credit report at https://www.annualcreditreport.com.

Minimum Score Requirements

To qualify for the lowest interest rates available, you will usually need a FICO score of 760 or higher. Most lenders require a score of at least 620 to qualify for a conventional mortgage.3

If your FICO score is less than 620, you may be able to qualify for a non-conventional mortgage. However, you should expect to pay higher interest rates and fees. For example, you may be able to secure an FHA loan (one issued by a private lender but insured by the Federal Housing Administration) with a credit score as low as 580 if you can make a 3.5 percent down payment. And FHA loans are available to applicants with credit scores as low as 500 with a 10 percent down payment.4

Ideas to Help Increase Your Credit Score

There’s no quick fix for a low credit score, but the following steps will help you increase it over time.5

  1. Make Payments on Time

At 35 percent, your payment history accounts for the largest portion of your credit score. Therefore, it’s crucial to get caught up on any late payments and make all of your future payments on time.

If you have trouble remembering to pay your bills on time, set up payment reminders through your online banking platform, a free money management tool like Mint, or an app like BillMinder. 

  1. Avoid Applying for New Credit You Don’t Need

New accounts will lower your average account age, which could negatively impact your length of credit history. Also, each time you apply for credit, it can result in a small decrease in your credit score.

The exception to this rule? If you don’t have any credit cards—or any credit accounts at all—you should open an account to establish a credit history. Just be sure to use it responsibly and pay it off in full each month.

If you need to shop for a new credit account, for example, a car loan, be sure to complete your loan applications within a short period of time. FICO attempts to distinguish between a search for a single loan and applications to open several new lines of credit by the window of time during which inquiries occur.

  1. Pay Down Credit Cards

When you pay off your credit cards and other revolving credit, you lower your amounts owed, or credit utilization ratio (ratio of account balances to credit limits). Some experts recommend starting with your highest-interest debt and paying it off first. Others suggest paying off your lowest balance first and then rolling that payment into your next-lowest balance to create momentum.

Whichever method you choose, the first step is to make a list of all of your credit card balances and then start tackling them one by one. Make the minimum payments on all of your cards except one. Pay as much as possible on that card until it’s paid in full, then cross it off your list and move on to the next card.

Debt Interest Rate Total Payoff Minimum Payment
Credit Card 1 12.5% $460 $18.40
Credit Card 2 18.9% $1,012 $40.48
Credit Card 3 3.11% $6,300 $252
  1. Avoid Closing Old Accounts

Closing an old account will not remove it from your credit report. In fact, it can hurt your score, as it can raise your credit utilization ratio—since you’ll have less available credit—and decrease your average length of credit history.

Similarly, paying off a collection account will not remove it from your report. It remains on your credit report for seven years, however, the negative impact on your score will decrease over time. 

  1. Correct Errors on Your Report

Mistakes or fraudulent activity can negatively impact your credit score. That’s why it’s a good idea to check your credit report at least once per year. The Federal Trade Commission has instructions on their website for disputing errors on your report.

While it may seem like a lot of effort to raise your credit score, your hard work will pay off in the long run. Not only will it help you qualify for a mortgage, a high credit score can help you secure a lower interest rate on car loans and credit cards, as well. You may even qualify for lower rates on insurance premiums.6 

 

STEP 2: SAVE UP FOR A DOWN PAYMENT AND CLOSING COSTS

The next step in preparing for your home purchase is to save up for a down payment and closing costs.

Down Payment

When you purchase a home, you typically pay for a portion of it in cash (down payment) and take out a loan to cover the remaining balance (mortgage).

Many first-time buyers wonder: How much do I need to save for a down payment? The answer is … it depends.

Generally speaking, the higher your down payment, the more money you will save on interest and fees. For example, you will qualify for a lower interest rate and avoid paying for mortgage insurance if your down payment is at least 20 percent of the property’s purchase price. But what if you can’t afford to put down 20 percent?

On a conventional loan, you will be required to purchase private mortgage insurance (PMI) if your down payment is less than 20 percent. PMI is insurance that compensates your lender if you default on your loan.7

PMI will cost you between 0.3 to 1.5 percent of the overall mortgage amount each year.8 So, on a $100,000 loan, you can expect to pay between $300 and $1,500 per year for PMI until your mortgage balance falls below 80 percent of the appraised value.9 For a conventional mortgage with PMI, most lenders will accept a minimum down payment of five percent of the purchase price.7

If a five-percent down payment is still too high, an FHA-insured loan may be an option for you. Because they are guaranteed by the Federal Housing Administration, FHA loans only require a 3.5 percent down payment if your credit score is 580 or higher.7

The downside of getting an FHA loan? You’ll be required to pay an upfront mortgage insurance premium (MIP) of 1.75 percent of the total loan amount, as well as an annual MIP of between 0.80 and 1.05 percent of your loan balance on a 30-year note. There are also certain limitations on the types of loans and properties that qualify.10

There are a variety of other government-sponsored programs created to assist homebuyers, as well. For example, veterans and current members of the Armed Forces may qualify for a VA-backed loan requiring a $0 down payment.7 Consult a mortgage lender about what options are available to you.

TYPE MINIMUM DOWN ADDITIONAL FEES
Conventional Loan 20% Qualify for the best rates and no mortgage insurance required
Conventional Loan 5% Must purchase private mortgage insurance costing 0.3 – 1.5% of mortgage annually
FHA Loan 3.5% Upfront mortgage insurance premium of 1.75% of loan amount and annual fee of 0.8 – 1.05%

Current Homeowners

If you’re a current homeowner, you may have equity in your home that you can use toward your down payment on a new home. We can help you estimate your expected return after you sell your current home and pay back your existing mortgage. Contact us for a free evaluation!

Closing Costs

Closing costs should also be factored into your savings plan. These may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys and other fees associated with the purchase of your home. Closing costs vary but typically range between two to five percent of the purchase price.11

If you don’t have the funds to pay these outright at closing, you can often add them to your mortgage balance and pay them over time. However, this means you’ll have a higher monthly payment and pay more over the long term because you’ll pay interest on the fees.

 

STEP 3: ESTIMATE YOUR HOME PURCHASING POWER

Once you have the required credit score, savings for a down payment and a list of all your outstanding debt obligations via your credit report, you can assess whether you are ready and able to purchase a home.

It’s important to have a sense of how much you can reasonably afford—and how much you’ll be able to borrow—to see if homeownership is within reach.

Your debt-to-income (DTI) ratio is one of the main factors mortgage companies use to determine how much they are willing to lend you, and it can help you gauge whether or not your home purchasing goals are realistic given your current financial situation.

Your DTI ratio is essentially a comparison of your housing expenses and other debt versus your income. There are two different DTI ratios that lenders consider:

Front-End Ratio

Also called the housing ratio, this is the percentage of your income that would go toward housing expenses each month, including your mortgage payment, private mortgage insurance, property taxes, homeowner’s insurance and association dues.12

To calculate your front-end DTI ratio, a lender will add up your expected housing expenses and divide it by your gross monthly income (income before taxes). The maximum front-end DTI ratio for most mortgages is 28 percent. For an FHA-backed loan, this ratio must not exceed 31 percent.13

Back-End Ratio

The back-end ratio takes into account all of your monthly debt obligations: your expected housing expenses PLUS credit card bills, car payments, child support or alimony, student loans and any other debt that shows up on your credit report.12

To calculate your back-end ratio, a lender will tabulate your expected housing expenses and other monthly debt payments and divide it by your gross monthly income (income before taxes). The maximum back-end DTI ratio for most mortgages is 36 percent. For an FHA-backed loan, this ratio must not exceed 41 percent.13

Home Affordability Calculator

To get a sense of how much home you can afford, visit the National Association of Realtors’ free Home Affordability Calculator at https://www.realtor.com/mortgage/tools/affordability-calculator.

This handy tool will help you determine your home purchasing power depending on your location, annual income, monthly debt and down payment. It also offers a monthly mortgage breakdown that projects what you would pay each month in principal and interest, property taxes, and home insurance.

The Home Affordability Calculator defaults to a back-end DTI ratio of 36 percent. If the monthly cost estimate at that ratio is significantly higher than what you’re currently paying for housing, you need to consider whether or not you can make up the difference each month in your budget.

If not, you may want to lower your target purchase price to a more conservative DTI ratio. The tool enables you to scroll through higher and lower price points to see the impact on your monthly payments so you can identify your ideal price point.

(Note: This tool only provides an estimate of your purchasing power. You will need to secure pre-approval from a mortgage lender to know your true mortgage approval amount and monthly payment projections.)

Can I Afford to Buy My Dream Home?

Once you have a sense of your purchasing power, it’s time to find out which neighborhoods and types of homes you can afford. The best way to determine this is to contact a licensed real estate agent. We help homeowners like you every day and can send you a comprehensive list of homes within your budget that meet your specific needs.

If there are homes within your price range and target neighborhoods that meet your criteria—congratulations! It’s time to begin your home search.

If not, you may need to continue saving up for a larger down payment … or adjust your search parameters to find homes that do fit within your budget. We can help you determine the right course for you.

START LAYING YOUR FOUNDATION TODAY

It’s never too early to start preparing financially for a home purchase. These three steps will set you on the path toward homeownership … and a secure financial future!

And if you are ready to buy now but don’t have a perfect credit score or a big down payment, don’t get discouraged. There are resources and options available that might make it possible for you to buy a home sooner than you think. We can help.


Want to find out if you’re ready to buy a house? Give us a call! We’ll help you review your options, connect you with our trusted mortgage lenders, and help you determine the ideal time to begin your new home search.

 

Disclaimer: The above is an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

  1. Quicken Loans Blog –
    https://www.quickenloans.com/blog/how-does-your-credit-score-affect-your-mortgage-eligibility
  2. myFICO –
    https://www.myfico.com/credit-education/credit-report-credit-score-articles/
  3. Bankrate –
    https://www.bankrate.com/mortgages/what-is-a-good-credit-score-to-buy-a-house/
  4. Bankrate –
    https://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-1.aspx
  5. myFICO –
    https://www.myfico.com/credit-education/improve-your-credit-score/
  6. The Balance –
    https://www.thebalance.com/having-good-credit-score-960528
  7. Bankrate –
    https://www.bankrate.com/mortgages/how-much-is-a-down-payment-on-a-house/
  8. Bankrate –
    https://www.bankrate.com/finance/mortgages/the-basics-of-private-mortgage-insurance-pmi.aspx
  9. Bankrate –
    https://www.bankrate.com/finance/mortgages/removing-private-mortgage-insurance.aspx
  10. The Balance –
    https://www.thebalance.com/fha-home-loan-pitfalls-315673
  11. Investopedia –
    https://www.investopedia.com/terms/c/closingcosts.asp
  12. Bankrate –
    https://www.bankrate.com/finance/mortgages/why-debt-to-income-matters-in-mortgages-1.aspx
  13. The Lenders Network –
    https://thelendersnetwork.com/fha-debt-to-income-ratio/

Photo by Got Credit

Photo by Got Credit

Where to Work Out in Scottsdale: Fitwall

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– Fitwall Scottsdale –

I had been following Fitwall on Instagram for a while and the workouts looked like a lot of fun. So, last week, I booked my first class.

If you are not familiar with Fitwall, it is an exercise program where you do a series of strength exercises on or around a metal ‘wall’ that has a series of steps/handholds that you use during the workout interspersed with short bursts of cardio. The whole class lasts for forty minutes and you are done. It is a challenging class, but they can make any number of modifications based on your comfort and fitness level.

On the morning I went, Durrell was the instructor. I have to say, he is the NICEST instructor I have ever met. He warmly welcomed me and gave me a comprehensive tour of the facilities, (which includes showers if you need to be somewhere after your workout.)

When we went into the workout area, he introduced me to the wall and showed me some of the basic moves we would be doing. He also explained that the workout would consist of a series of short exercises that end with a cardio burst (also known as HIIT – High Intensity Interval Training.) And then, class was on.

The workout was fast-paced and there was a little bit of a learning curve, but Durrell was right there to coach me and help me with the equipment. He was also very encouraging and motivating.

There is no need to worry about what you should be doing as there is a large screen showing you the exercises as well as individual iPads at each station showing them as well. Plus, Darrell executed each of the moves for us.

On the day I was there, I did the Power class. We used the wall, free weights, did a lot of suspension training and more. It was a lot of fun and the class went quickly. There are seven different workouts a week and they change every few weeks.

I really enjoyed the class and Durrell was fantastic. I cannot wait to go back for another session!

 

P.S. If you want to try Fitwall out for yourself, they offer the first class free!

 

More Information: 
Fitwall
18221 N. Pima Road (Pima and Legacy)
Scottsdale, AZ 85255
(480) 226-7099
Website

Quick Video Update of the Scottsdale Real Estate Market – February 2018

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– February 2018 Scottsdale Housing Market Video –

February 2018 – Video

Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of February.

Scottsdale Active Listings

Scottsdale homes for sale February 2018This first section looks at Scottsdale’s housing inventory during the month of February.

First, we will take a look at February 2018 compared with February 2017. The number of homes for sale was down quite a bit, or 17%.

 

 

 

This next image looks at inventory from a month-over-month perspective.

The number of homes on the market in February was down 2% over January 2017.

 

 

 

Median List Price for Scottsdale Homes

The median price is a measurement that shows the exact middle of home prices – i.e. half of the homes are priced higher and half of the homes are priced lower.

In February, the median list price was up to $950,000. This is up $100K from February 2017’s $850,000 median list price.

 

 

 

Days on Market

Days on Market (DOM) is another quick measurement that can tell you about the health of the market. It represents how long homes are staying on the market before selling. If you see a high days on market, that would indicate homes are selling more slowly. Conversely, a low DOM means it is a faster moving market.

The DOM for February 2018 was 95. This is well below February 2017’s 111 days and represents a 14% decrease.

 

 

Median Sales Price for Scottsdale Homes

This is median price again, but this time we are looking at sold prices, versus listed prices.

February’s median home sales price was $512,500. This is slightly over February 2017’s $508,000. It was also down quite a bit compared to January 2018’s $550,000.

 

 

Number of Homes Sold

This last section is a look at completed home sales in Scottsdale.

Between February 2017 and February 2018, there was an 18% increase in home sales.

 

 

 

And comparing January 2018 to February 2018, sales were up 9%.

 

 

 

 

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel

 

Disclaimer: Data deemed to be accurate, but is not guaranteed.

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