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Category: Coronavirus, luxury real estate market, fears and concerns

In this episode we discuss recent developments with Coronavirus (COVID-19) and how it could affect real estate. As fears increase, some of those involved in the luxury market might be hesitant. Others might fear that home prices will drop. THIS EPISODE WILL RELIEVE those fears. We explain why prices in the Valley are going to go up - even with the Coronavirus. COVID-19's effect on the Markets We talk about how the virus has shaken the stock market... but why THAT won't affect real estate in Arizona. We discuss how such incredible demand in the Valley for housing will stave off many of the challenges that the preventative measures will bring. We talk about the marker you should look for and explain just how far we are from that being a problem. Cash Buyers and Investors They may be stepping back. But we talk about why them leaving the market is good news for people who need financing to improve their chances in this competitive market. Other Discussions We could see tourism drop and that could mean short term vacation rentals take a hit. We'll discuss why that phenomenon may (at first glance) seem like an alarm bell, and walk through what homeowners that rent out their properties on VRBO and Airbnb Those owners do when that market softens (they sell!) We also go over the best tips when you are submitting an offer. We talk about the importance of including a personal letter in your offer. There are lots of sellers out there that would love to sell their home to a person who explains their story. It's not just about the bottom line. BONUS A great pro tip from Diane about what to put on a dating profile!

OWN IT GIRL - Episode 14 - Understanding Interest Rates

Category: Interest Rates, Fed Rates, points, mortgage broker

Today, Tom Ross and I discuss the interesting and ever-changing world of interest rates. Tom (with Bay Equity) knows exactly how to understand the way interest rate fluctuations work, and explains the dynamics involved in how rates are determined and what the criteria should be for refinancing at lower rates. How Much Do You Save? What Is a "point"? There is a discussion about what the market means right now, with the dynamic of Coronavirus, which is not likely to stop having an effect on sales. We discuss an easy way to figure additional payment based on a simple calculation you can do in your head (it's only a 'rough' estimate but it helps). We also break down some key zip codes in the Valley and available housing supply in the Cromford Report. Key Questions Tom Ross with Bay Equity Reviews What affects interest rates What is a "point"? When should you refinance? Is it a full percentage point? How dependent is it on the no-cost aspect of a refinance? With rates where they are now, how to estimate your mortgage payment per month for every $10,000.