Finding a home in Arizona can be quite challenging when the inventory is so low. With interest rates at historically low levels many Buyers are ready to make a move. At this point in time many Sellers are receiving 10 offers within days of putting their home on the market. There are some things a Buyer can do to improve the chance of being the winning offer.

• Get Pre-qualified, a Seller will not even look at an offer from someone that does not have Lender Approval.
• Plan on offering more than the list price.
• Ask your agent to put in an escalation clause up to your comfort level.
• Submit a letter with your offer explaining why you love the Seller's home and a little about yourself/family.
• Make sure you have a Realtor that is well respected in the community of Realtors. (Yes this makes a difference.)
• Don't ask for closing costs.
• Don't send in a contingent offer - sell your home before making a purchase if you need the money from the sale to make a solid offer.
• Ask your Realtor about new home builds. Most Realtors know of spec homes that the Builder has.

Some of the suggestions above are just not possible for some Buyers. If you are one of those Buyers, strategize with your Realtor on the best way to make your offer stand out in spite of some of the above concerns. 

Whatever you do, make sure your Realtor has you set up on a search so you can see the homes as soon as they become listed on the market and rush to see the homes as quickly as possible.  Also remember, this kind of market will not last forever so don't get discouraged. At some point it will be a Buyer's market again and much easier to get your Dream Home.

The number of homes that went under contract the week ending July 18th, 2020 surpassed the numbers for the previous week, and pending sales increased almost 11% week over week, according to Zillow's Weekly Market Report. However, pending sales are still 2.4 percent down from the previous month. 

Properties are leaving the market quickly (many within just 15 days), and new listings remain scarce. New listings are down about 15% year over year. As a result of all this, there are 25.5 percent fewer homes on the market now than the same time last year. 

Sources for this information are Zillow and Inman News.

1. 
2. Mattress construction: The most popular mattress types are inner spring mattresses, memory foam
3. mattresses, and adjustable air mattresses. Each has pros and cons when it comes to durability and
4. comfort customization.
5.  
6. Firmness: Mattress firmness plays a huge role in the quality of your sleep. Mattresses that are too
7. firm or too soft can cause aches and pains, so it‘s recommended that you test a mattress for
8. 10- to 15 minutes in store before making a purchase.
9.  
10. Sleeping position: Your mattress should match your sleeping style (side, back, face-down, etc.).
11. You want a mattress that keeps your spine in proper alignment. For example, some mattresses are
12. better for side sleepers, while others are better for back sleepers.
13.  
14. Size: It’s not quite as simple as choosing between a king and a queen mattress. You should also
15. consider your height, as some mattresses are a better fit for shorter people while tall people will
16. want a longer mattress so their limbs aren’t hanging over the edge of the bed.
17.  
18. Stability: For couples, you should consider how the mattress reacts when one person moves, so
19. the other person’s sleep isn’t disturbed in the middle of the night.

You’ve found your dream home and now it’s time to cross all your T's and dot all your I's before it’s all

your own. And one of the first items on your closing checklist the home appraisal. So, what exactly is that?

The home appraisal is essentially a value assessment of the home and property. It is conducted by a

certified third party and is used to determine whether the home is priced appropriately.

During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior

of the home. He or she factors in a variety of things, including the home’s floor plan functionality,

condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made

if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several

similar homes that were sold within the last six months in the area.

The final report must include a street map showing the property and the ones’ compared, photographs

of the interior and exterior, an explanation on how the square footage was calculated, market sales data,

public land records, and more.

After it is complete, the lender uses the information found to ensure that the property is worth the

amount they are investing. This is a safe-guard for the lender as the home acts as collateral for the

mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells

the home to recover the money borrowed.

Outdated kitchen. Overrun backyard. Unusable basement space. If you have a home renovation project

on the mind, the first thing you have to consider is how you are going to finance it. Here are the most

common options to make your dreams become a reality.

Cash. Paying in cash is the most straightforward financing option, just save until you have enough money

to cover the expenses. This will help eliminate spending outside your budget; however, it can also extend

your timeline.

Mortgage Refinance. If you’ve been making payments on your home for a few years and your interest rate

is higher than current market rates, you may be eligible for a mortgage refinance, reducing your payments

and freeing up some money.

Cash-Out Refinance. You can tap into your home equity and borrow up to 80 percent of your home’s value

to pay off your current mortgage plus take out more cash to cover the renovations. This option is encouraged

only when you’re making improvements that will increase the value of your home, as it can add a lot of

interest and fees.

Home Equity. Getting a home equity line of credit allows you to borrow money against the value of your home.

You receive usually up to 80 percent of your home’s value, minus the amount of your loan.

Retirement Funds. Homeowners can consider pulling money from a 401K or IRA account, even though they

aren’t specifically meant to cover a home renovation. This option might incur additional penalties or tax payments,

but may be worth it when making improvements that will benefit them financially in the long run.

Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime.

As you start your hunt, don't forget there will be other costs associated with your purchase then the

price of the home. Here are 5 fees to keep in mind as you begin to budget.

1. Home inspection. This is a crucial step in the home buying process. The findings that come from
2. the inspection can help you negotiate price and repairs. Generally, you can expect to pay between
3. $300 to $500 depending on the home and the location.
4.  
5. Title services. Title services encompass the transfer of the title from the seller and a thorough search
6. of the property’s records to ensure to no one will pop up with a claim to the property. Additionally,
7. you may need to buy title insurance which will protect the lender or your investment in the home.
8.  
9. Appraisal fee. Before getting a loan, you will likely be required to get an appraisal of the home to
10. determine its estimated value. This will be conducted by a third-party company and the cost can land
11. anywhere between $300 and $1,000, depending on the size of the home.
12.  
13. HOA fees. Many communities have a homeowners’ association that enforces monthly fees. This money
14. is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are
15. around $200 per month.
16.  
17. Taxes. The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two
18. months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the
19. home title.

HOW TO GET READY FOR RETIREMENT

For most people, retirement feels like a long way off. But, if you don’t start preparing as early as possible,

you may find yourself in a place of financial insecurity when the time does come. To avoid this, consider

implementing the following tips.

1. Calculate your target savings. In general, it’s recommended that you save between 10 to 15 percent of
2. your income for retirement. However, you can always use an online savings calculator to determine the
3. amount you need to save for your specific needs and goals.
4.  
5. Contribute to your employer’s retirement savings plan. Does your job offer a 401(k), traditional IRA, or
6. Roth IRA? Sign up and start saving as soon as they allow you to. It’s recommended to set up automatic
7. paycheck deductions and, once the money is in your retirement fund, don’t touch it.
8.  
9. Take advantage of employee benefits. Many employers offer matching which generally requires you
10. contribute a certain percentage of each paycheck and your company will then contribute a matching
11. amount with funds of their own. They might also offer health savings or flexible savings account. By
12. contributing to these accounts, you reduce your amount of taxable income, allowing you to save more
13. money.
14.  
15. Pay off your debts. Start by paying off any high-interest credit card debt first. Then look at other debts,
16. such as student loans and car payments, and make a plan for paying those off incrementally.
17. Reduce daily spending. Although this feels like a no-brainer, spending your money thoughtfully now
18. can make a big impact later. Seek out areas of your life where you can