If you need assistance, please call 928-607-5556

  • Realty Executives of Flagstaff Blog

    Saturday, March 25, 2017   /   by Jeff Ross

    How Low Supply & High Demand Impacts the Real Estate Market

    Some Highlights:

    The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
    Anything under a 6-month supply is a Seller’s Market!
    There has not been a 6-months inventory supply since August 2012!
    Buyer Demand continues to outpace Seller Supply!

    Read More

    Monday, March 13, 2017   /   by Jeff Ross

    Higher Fed Rate is Around the Corner

    by Jeremy Collett
    March 10, 2017
    Guaranteed Rate





    Positive employment picture likely means March hike
    With ADP and the U.S. jobs report showing big job gains in February, the stage is likely set for an interest rate hike at the March 14 – 15 policy meeting. On Wednesday, ADP’s employment report claimed that businesses added 298,000 new jobs last month. Two days later, the Department of Labor cited a 235,000 increase to nonfarm payrolls. This number was bolstered by the largest jump in a decade for the construction sector, which is currently running hot due to unseasonably warm weather.
    Overall, both reports were in line with what the markets have seen over the past several months. Despite the positive numbers—except for hourly earnings, which were sluggish at only .2 percent growth—the report fell short of delivering the blockbuster job report many were expecting, which could have potentially driven rates to much higher levels. While markets have b ...

    Read More

    Wednesday, February 22, 2017   /   by Jeff Ross

    Our 2017 Economic Outlook: A Paradigm Shift in the Making

    Our 2017 Economic Outlook: A Paradigm Shift in the Making
    By Scott S. Eggen
    Executive Vice President – Director of Capital Markets
    PrimeLending, a PlainsCapital Company
    We are more than halfway through the first quarter of 2017, and we are still holding our breath to see how President Trump’s proposed policies will impact the U.S. economy. There is much to feel optimistic about, especially a renewed commitment to stimulate the economy through tax reform, infrastructure investment and regulatory relief. But these policies will take some time to enact and show results. In the meantime, it’s smart to stay alert and vigilant – much about 2017 feels like uncharted waters.
    Here are some of the key indicators and trends we at PrimeLending are monitoring closely:
    ·         Experts predict GDP (Gross Domestic Product) will continue a modest increase in 2017. Strengthening consumer spending, spurred by steady wage an ...

    Read More

    Wednesday, February 22, 2017   /   by Jeff Ross

    2017 Home Sales Start a little Slow, Why?

    By Jeff Ross
    Realty Executives of Flagstaff
    February 2017


    As you will see with the attached, Home Sales for the month of January started on the slow side with  a -7.4% drop in the number of homes sold. As we have mentioned, this will be all homes, single family, townhomes, condos and manufactured homes.
    Home prices climbed slightly, with the Average rising 2.16%, and Median rising 4.35%.
    For Single Family Homes
    We sold -18% fewer homes in January compared to January 2016, Average prices climbed to $419,654 compared to the prior year of $415,527. Median prices rose 12% to $375,000.
    What is Median Price?
    Definition. Median means "in the middle". So, with regard to SOLD Price, this means exactly half of homes sold are above this price and exactly half are below.
     
    The WHY?
    Inventory,
    When you look at homes priced up to $299,999, we sold -14% fewer homes, and have -28% fewer homes on the market.
    Homes priced from $299,999 to $499 ...

    Read More

    Monday, February 20, 2017   /   by Jeff Ross

    Do You Know the Real Cost of Renting vs. Buying?

    Some Highlights:







    Historically, the choice between renting or buying a home has been a close decision.






    Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.






    Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!

    Read More