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Buyer & Seller Tips • Real Estate News • Market Trends

Should you buy a retirement home sooner rather than later?

October 10, 2020

Should you buy a retirement home sooner rather than later?

Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed.

Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I retire?

If the sun and warm weather are calling your name and you have the opportunity to work remotely for the foreseeable future, now may be a great time to purchase that home in the southwest you’ve always dreamed of where you can enjoy golf all winter long and take in the spectacular mountain views. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career.

“The pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home…We may begin to see a boost in people buying retirement homes before their retirement,” explains Lawrence Yun, Chief Economist at the National Association of Realtors (NAR).

According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (75 percent) own their homes, and only 23 percent have mortgage debt (including any equity loans or lines of credit). Since entering retirement, almost 4 in 10 retirees (38 percent) have moved into a new home. They’re making a profit by selling their current homes in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win.Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Retirement

Rising home equity can power your next move

October 3, 2020

According to CoreLogic, homeowners across the country are gaining significant equity. Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth.

Rising Home Equity Can Power Your Next Move

If you’re ready to sell your house and begin looking for your dream home, let’s connect to plan how your equity can make that possible.

Filed Under: Market Trends Tagged With: Home Equity

VIDEO: How home ownership multiplies your net worth

October 1, 2020

Home ownership is one of the best ways to build your financial future. In fact, homeowners have an average net worth that is 40 times greater than that of renters. Watch:

Let’s connect so we can begin planning your first step toward building your financial future.

Filed Under: Tips for Home Buyers, Home Ownership

Home improvement, DIY projects are here to stay

September 21, 2020

Home improvement, DIY projects are here to stay

COVID-19 has caused many people to spend significantly more time at home than they’re used to—and all that time at home has led to a serious rise in the popularity of home improvement and DIY projects.

But it looks like this DIY/home improvement trend is here to stay — COVID or no COVID. The home improvement and DIY trend has staying power beyond the pandemic, according to a recent report by CNBC:

  • The shift to suburban areas. Many buyers are leaving large cities in favor of larger, more spacious homes in the suburbs — and larger homes means more home improvement projects.
  • Consumers are ready and willing to spend on home improvement and DIY projects. While COVID has caused many consumers to up their spending, one category they’re willing to spend in moving forward? Home improvement. According to a survey from Wells Fargo (highlighted in the article), 88 percent of consumers plan to increase their retail spending on home improvement items (for example, appliances and electronics) in the second half of 2020.

Bottom line: While COVID may have inspired the uptick in home improvement and DIY projects, the trend is showing no signs of slowing. So if you’ve been thinking about tackling a project at home (either for your own satisfaction or to get your property ready to sell), now is a great time to make a move.

Filed Under: Home Ownership Tagged With: Home Improvement

Lessons for buying a home during the pandemic

September 4, 2020

Must-know lessons for buying a home during the pandemic

House hunting is always a process — but in the midst of COVID-19, there are even more things to know and learn about successfully finding and buying a home. But what, exactly, are those things? What do you need to know to find and buy a home right now?

Realtor.com outlines some key lessons home buyers should know if they’re shopping during COVID, including:

Don’t bank on getting a “deal”

Considering how much the pandemic has affected the economy and peoples’ jobs, you might expect that it would have directly impacted real estate values. In many areas, including Green Valley, that just isn’t the case. In fact, due to such low inventory, prices have stayed steady and in many cases, even gone up. And there are a lot more buyers than houses for sale, making competition stiff. Now is not the time to make low offers on new listings.

Get pre-approved before you start house hunting

This is always the first thing you should do before looking at houses, even when there isn’t a pandemic. But, due to the current events, many mortgage lenders have changed their lending requirements — so before you get too deep into the house hunting process, make sure you get pre-approved (or pre-qualified) and can get access to the funds you need to buy a home.

Work with a Buyer’s Agent

Working with a Buyer’s Agent is also always important — but it’s especially important now, when you may be relying on photos or a virtual tour to determine whether you want to make an offer on a property. Not only can your agent walk you through the entire buying process, but because they’ll actually be on site giving you the virtual tour, they can clue you in to potential issues you might have missed on video — which can prevent you from making an offer on a house that isn’t the right fit.

There are a lot of factors that make this a perfect time to buy a home. Just make sure you go into it with realistic expectations, and are aware of the actual current market conditions in the area you are looking.

Filed Under: Tips for Home Buyers Tagged With: COVID-19 Safety for Buyers

Video touring a home? Check these outdoor elements

September 2, 2020

Video touring a home? Be sure to check these outdoor elements

Video tours are a great option for long-distance buyers and buyers who are hesitant to tour a property in person due to COVID-19 concerns. But if you’re planning a video tour and want to get a comprehensive feel for the property, you need to tour more than just the interior of the house — you need to take the video tour outdoors. Here are a few key outdoor elements you should explore:

Surrounding homes

Privacy and community are important — and, as such, it’s important to know how far (or how close) the neighbors are to the property you’re considering, and how well they maintain their homes. The fact is, real estate is all about location, and property values can be affected by “the company you keep.” You don’t want to buy a stunning home, only to find out later that surrounding homes are not maintained, in a state of disrepair, or that there’s a vacant lot behind the house that may be developed in the future. Ask your Buyer’s Agent to take a 360 degree video of the surrounding homes and the street to identify potential red flags.

Landscaping and Patios

You want to get a clear idea of the time, money, and energy it will take to maintain the outdoor space, so make sure your agent gives you a full tour of the front, back, and/or side yards; that way, you can get an idea of existing trees, shrubs, and landscaping needs.

Outdoor space is important, and Arizona’s dry climate can lead to dry rot and deterioration of outdoor spaces if not properly maintained. It can be hard to see such damage on a video tour or in listing photos, so make sure your Buyer’s Agent zooms in on the patio areas so you can identify any wear and tear.

Each side of the house

The front of the house may look like it’s in great shape, but what about the sides and the back? Make sure you get images or video of the exterior of the home from every angle so you can identify any potential damage or necessary repairs.

Video tours can give you just as much detail and information about a property checking as seeing it in person. But that’s only true if when working with a Buyer’s Agent who specializes in working with out-of-state clients. Give me a call, (520) 333-0446.

Filed Under: Tips for Home Buyers Tagged With: COVID-19 Safety for Buyers, Out-of-State Buyers, Video & Virtual Tours

Video touring a home? Let’s get a close-up of the kitchen

August 28, 2020

Video Touring a Home

While COVID-related restrictions have loosened in many areas, many buyers are still wary about going to tour homes in person — and video tours are still hugely popular. Perhaps it’ll even be a permanent addition to how some people look at homes even once the pandemic is entirely under control.

Video tours can give you just as much detail and information about a property checking as seeing it in person. But that’s only true if when working with a Buyer’s Agent who specializes in working with out-of-state clients.

Since the kitchen is often considered the most important room in the house (from a buyer’s perspective), here’s some key points I’ll focus on in your virtual tour or video/Facetime showing:

  • See the room from all angles: Seeing the kitchen from a single perspective or viewpoint (as in listing photos) often does not provide a real sense of the space. I’ll be sure to ask your agent to show you the room from a variety of angels.
  • Zoom in on the appliances: Appliances are costly — and if you’re going to have to spend part of your budget replacing the appliances in the home, that could factor into your offer (or whether you make an offer at all). I’ll be sure to zoom in on the appliances to give you an idea of what kind of shape they’re in, and whether they’ll need to be replaced.
  • Cabinet close-up: The kitchen cabinets may look amazing in the listing photos, but when you get a close-up look at them, you may notice that they’re not so amazing and need to be repainted or replaced. I’ll zoom in on the cabinets so you can assess their condition before making a final decision on the home.

Just because you can’t (or don’t want to) tour a home in person, doesn’t mean you can’t get a good look at the kitchen — or any other room, for that matter. You just need to be working with the right Buyer’s Agent, and not hesitate to request a closer look at the things you really want to see.

Filed Under: Tips for Home Buyers Tagged With: COVID-19 Safety for Buyers, Out-of-State Buyers, Video & Virtual Tours

How working remotely is changing homebuyer needs

August 16, 2020

How working remotely is changing homebuyer needs

With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs.

Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.

According to George Ratiu, Senior Economist for realtor.com:

“The ability to work remotely is expanding home shoppers’ geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term … although it’s too early to tell what long-term impact the COVID-era of remote work will have on housing, it’s clear that the pandemic is shaping how people live and work under the same roof.”

Working remotely is definitely changing how Americans spend their time at home, and also how they use their available square footage. Homeowners aren’t just looking for a room for a home office, either. The desire to have a home gym, an updated kitchen, and more space in general – indoor and outdoor – are all key factors motivating some buyers to change their home search parameters.Continue Reading

Filed Under: Market Trends

Don’t make these common home buyer mistakes

August 15, 2020

Don't make these common home buyer mistakes

Homeownership is one of the central tenets of contemporary life. Most of us dream of a familiar, comfortable place to call our own, and buying a home is gives us our own piece of the American Dream.

But until and unless you’ve been through the process several times, there are plenty of mistakes many people make on their journey to property ownership.

If you’ve made any of these yourself, don’t feel bad — it can happen to the best of us. And if you’re a home buyer who wants to get ahead of the curve, take a look at the following things not to do when buying a home… so when it’s time to pull the trigger, you’ll be ready to go!Continue Reading

Filed Under: Tips for Home Buyers

Infographic:
Mortgage rates and payments by decade

August 14, 2020

Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. Today’s historic low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant.

Mortgage rates and payments by decade

Let’s connect to determine the best way to position you for a financially-savvy move in today’s market.

Filed Under: Market Trends Tagged With: Infographics, Interest Rates

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agent photo

Russ Fortuno, Associate Broker

I'm a Southern Arizona native and Quail Creek resident. Whether you’re buying or selling a home in Quail Creek, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

This site is not affiliated with Robson Communities or the Quail Creek Country Club Property Owners Association.
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