Best Arizona Real Estate Agent - Audrey Tolley - Realtor®

Best Arizona Real Estate Agent - Audrey Tolley - Realtor®

Relocating from California

The article, Study: Arizona a top destination for businesses relocating from California, from the Phoenix Business Journal, reports that Arizona is the third-best market for California disinvestment, according to a seven-year Spectrum Location Solutions study of companies leaving the state. Texas, Nevada and Arizona are in the top three slots, following by Colorado, Washington, Oregon and North Carolina. Report author Joseph Vranich, a site selection consultant, confirmed that more than $68 billion in capital has been diverted to other states as a result of the more than 1,500 disinvestment actions – the act of a company pulling up stakes and relocating. “Companies moving to other states save 25 percent to 35 percent of operating costs compared to California costs,” Vranich said. “As California’s business climate worsens, chances are that more companies will seek places that are friendlier to business interests,” Vranich said.

Here is the link to the entire article: http://www.bizjournals.com/phoenix/blog/business/2015/11/study-arizona-a-top-destination-for-businesses.html?ana=e_phx_rdup&s=newsletter&ed=2015-11-06&u=ErMl%2Bh%2FDycShI%2FXqymYZ6w058c7160&t=1446823446

Phoenix makes the Charts

The article, Rising Rents Hit 47-Month High, June Occupancy Matches Record, fromwww.realestateeconomywatch.com, reports that the rental market set new records in June as the national annual effective rent growth rate reached  5.1%, a 47-month high for the national apartment market and continued a streak of 5.0%-plus rent growth that is the longest in at least six years, according to Axiometrics. Though effective rent growth was also 5.1% in April and February, the June rate was the highest when extended to two decimal points (5.11%), and is the highest rate since the 5.3% of July 2011. Effective rent growth has reached at least 5.0% for five straight months, the longest such streak since Axiometrics started monthly reporting of annual apartment data in April 2009. “Rent growth is just shy of the post-recession peak, and the June metrics reflect the continued strength of the apartment market,” said Stephanie McCleskey, Axiometrics vice president of research. “The demand for apartments is still strong, despite the record number of new units being delivered this year.”

		Annual Effective Rent Growth		Occupancy Rate			Revenue Growth
Rank	MSA	14-Jun	15-Jun		14-Jun	15-Jun	14-Jun	15-Jun
1	Oakland, CA	9.6%	14.4%		96.8%	96.5%	9.9%	14.1%
2	Portland, OR	6.0%	13.6%		96.2%	97.1%	6.0%	14.6%
3	Denver, CO	8.6%	10.9%		96.1%	95.9%	9.0%	10.7%
4	San Jose, CA	9.1%	10.4%		97.0%	97.0%	9.3%	10.4%
5	Sacramento, CA	8.3%	9.8%		96.2%	95.9%	10.3%	9.4%
6	San Francisco, CA	6.7%	9.1%		96.5%	96.3%	7.4%	9.0%
7	Riverside, CA	4.3%	7.6%		95.2%	95.7%	4.9%	8.1%
8	Seattle, WA	7.0%	7.5%		96.6%	96.2%	7.3%	7.2%
9	Atlanta, GA	7.3%	7.3%		94.2%	94.8%	7.9%	7.9%
10	Phoenix, AZ	4.5%	7.1%		93.5%	94.5%	5.0%	8.0%
11	Nashville, TN	5.6%	6.8%		96.0%	96.0%	5.8%	6.7%
12	Las Vegas, NV	3.2%	6.7%		93.4%	94.5%	4.4%	7.8%
13	Dallas, TX	4.0%	6.4%		95.0%	95.6%	4.0%	7.0%
14	Orlando, FL	4.5%	6.3%		95.1%	95.7%	4.9%	6.9%
15	Fort Worth, TX	4.5%	6.2%		95.1%	95.9%	4.8%	7.0%
16	Fort Lauderdale, FL	5.0%	6.2%		95.7%	95.8%	5.6%	6.3%
17	Los Angeles, CA	4.3%	6.2%		95.8%	95.9%	5.1%	6.3%
	National	3.7%	5.1%		95.1%	95.4%	4.0%	5.4%

Here is the link to the entire article: http://www.realestateeconomywatch.com/2015/07/rising-rents-hit-47-month-high-june-occupancy-matches-record/

More Buyers Take Advantage of FHA Loans

DAILY REAL ESTATE NEWS |

Sales to buyers using Federal Housing Administration loans rose to a two-year high in the second quarter, according to RealtyTrac's June and Midyear 2015 U.S. Home Sales Report.

Buyers using FHA loans — which are typically low down payment loans that are used by first time home buyers -- made up 23 percent of all single family home and condo sales with financing in the second quarter of 2015. That's up from 19 percent in the second quarter of 2014 and the highest share since the first quarter of 2013.

"As the investor-driven housing recovery faded in the first half of 2015, first-time home buyers, boomerang buyers and other traditional owner-occupant buyers started to step into the gap and pick up the slack," says Daren Blomquist, vice president at RealtyTrac. "This is good news for sellers in many markets, providing them with strong demand from a larger pool of buyers, and U.S. sellers so far in 2015 are realizing the biggest gains in home price appreciation since 2007."

The following markets, with a population of 1 million or more, had the highest share of buyers using FHA loans in the first six months of 2015:

·         Riverside-San Bernardino-Ontario in inland Southern California: 35%

·         Las Vegas: 32%

·         Oklahoma City: 31%

·         Salt Lake City: 30%

·         Phoenix: 29%

On the other hand, these major markets had the lowest share of buyers using FHA loans in the first six months of 2015:

·         San Jose, Calif.: 7%

·         Hartford, Conn.: 10%

·         San Francisco: 12%

·         Boston: 12%

·         Milwaukee: 13%

Source: RealtyTrac / http://realtormag.realtor.org/daily-news/2015/07/23/more-buyers-take-advantage-fha-loans

The article, Sped Up: Trends that are transforming the current recovery cycle as demographics' clock ticks faster, from www.builderonline.com, reports that demographics is no longer operating on analog time, which means that changes to the math and make-up of households will impact the already somewhat tricky relationship between your front-loaded investments in developing and building new homes, and the favorable closing of the investment loop when you settle with brand new owners. Here's the way the Census bureau's data meisters reveal that 2 important data points look:

Here is the link to the entire article: http://www.builderonline.com/design/consumer-trends/sped-up_o?utm_source=newsletter&utm_content=Opinion&utm_medium=email&utm_campaign=BP_071515%20(1)&he=98ffa202ee74a09a314d51cb32a1aeaaa93195b1

Fine Living in Glendale - 5154 W RIVIERA DR, Glendale, AZ 85304

Fine Living in Glendale - 5154 W RIVIERA DR, Glendale, AZ 85304

Buy vs. Rent and FHA programs helping people get into a home with little out of pocket

Are you looking to move from your rental into a place of you own? Then the new “Home Plus” Mortgage Loan which features a non-repayable down payment assistance grant may help get you in a home you're looking for.

"The Arizona Housing Finance Authority (AzHFA), acting on behalf of the Arizona Department of Housing, announced the launch of the new Home Plus program. The loan program will be open Statewide to renters (excepting those in Pima County) looking to become homeowners.

“With the escalating increase in rents, many creditworthy renters are finding it more and more difficult to save for a down payment,” said AzHFA Homeownership Programs Administrator Dirk Swift. “With the HOME Plus program this obstacle has been removed. Home Plus gives qualified renters a pathway to homeownership with a non-repayable down payment assistance grant.”
The AzHFA Home Plus Mortgage Loan Origination Program provides a 30-year fixed-rate mortgage with a down payment assistance (DPA) grant to qualifying homebuyers purchasing a primary residence, which they intend to occupy, throughout most of Arizona. 

The DPA is provided as a non-repayable grant that can be used for the down payment and closing costs, equal to four percent of the initial principal balance of the mortgage loan. 

Qualified U.S. military personnel and veterans may receive an additional one percent of DPA for a total of five percent of the mortgage amount. 

The DPA is only available in conjunction with a Home Plus loan and is funded by AzHFA at the mortgage loan closing. 

Home Plus users do not need to be first-time buyers.

The Home Plus loan program is available to homebuyers with an annual household income less than $88,000, purchasing homes under $353,000.

 First-time and boomerang homebuyers should find the program especially helpful. Homebuyers must work through an AzHFA-approved and participating lenders to obtain a Fannie Mae HFA Preferred, 30-year fixed mortgage."

If you are look to start building your net worth and want more information on this program contact us at www.AudreyTolley.com

Source * Arizona REALTOR® Voice

http://blog.aaronline.com/2015/04/new-grant-for-renters-looking-to-purchase/  

Also seen on ABC News 15 https://shar.es/1rYoY4

"A lot of Arizonans can afford a mortgage, but sometimes that hefty down payment keeps would-be buyers out of the game. "

Audrey Tolley

Real Estate Professional Realty ONE Group
17550 N Perimeter Dr. Suite 160
Scottsdale, AZ 85255

602.980.4231

www.AudreyTolley.com

myhome@AudreyTolley.com

How to get your home sold: make sure the price is right

Did you know that when a home goes on the market, pricing it right is the most effective way to get it sold fast? Most people don’t realize how much it costs them to have their home sit unsold for even one extra month. Below is some helpful information on pricing a home correctly. Please feel free to forward this message to your friends or family who might benefit from it.

On a good note, The article, Flood of home sales may indicate Millennials diving in, from www.azcentral.com, reports that home sales across metro Phoenix are on track to jump more than 30 percent during the next few months, potentially signaling the restart of the area's stalled housing recovery, according to a new report released Friday. The number of Valley houses under contract to sell started to surge in early February, a special report from Arizona State University's W.P. Carey School of Business indicated. The biggest increases in pending sales were for houses priced from $150,000 to $250,000 and from $250,000 to $400,000. That could signal more first-time buyers and that former homeowners who lost houses to foreclosure are purchasing again. "It's really encouraging for the housing market to see home sales climb the most at the lower end of the market," said Mike Orr, director of the Center for Real Estate Theory and Practice at W.P. Carey. "Millennials and boomerang buyers are likely behind much of the increase in sales." Less-stringent lending standards and the federally mandated cut to Federal Housing Administration mortgage insurance may be attracting new buyers, especially Millennials, experts said. Valley home sales fell 14 percent last year. Housing-market watchers have said since the market started slowing in early 2014 that it would take less-stringent lending requirements and more Millennials and boomerang buyers to push home sales back up. The trend appears to be national, as pending home sales in the U.S. reached an 18-month high in January, according to the National Association of Realtors. The rising demand from younger buyers also appears to be helping Phoenix's new-home market. During the past two months, contracts to buy new houses in the region have climbed 12 percent, according to Belfiore Real Estate Consulting. "Consumers, relegated to window shopping for a new home as the economy has recovered over the last 24 months, are just starting to show their purchasing might," Arizona real-estate analyst Jim Belfiore said.

Here is the link to the entire article: http://www.azcentral.com/story/money/real-estate/2015/02/27/asu-report-look-percent-surge-home-sales/24126481/

Audrey Tolley

Real Estate Professional Realty ONE Group
17550 N Perimeter Dr. Suite 160
Scottsdale, AZ 85255602.980.4231

myhome@AudreyTolley.com