I've been recording a variety of videos to help articulate the home buying and selling process now that how the Buyer's agent gets paid has been changed. Here is a rough draft "Path to Homeownership" for Buyers.

What do you think? What should I change? I would love your feedback, just hit reply.

Click here to watch "Path to Homeownership.

Mortgage Interest rates have been going down. FINALLY!!!!

• Mortgage Interest Rates have been going down since April 2024.Yes, this is proof that the FED Rate, the one you hear about in the news, is not the MORTGAGE interest rate.

• Look at the chart above to see that the 30-year fixed rate FHA loans are down to early 2023 levels. YYYYIIIIPPPPPYYYY!!!!!

• Housing affordability is officially getting better. (I'm not saying great, I'm just saying better.)

• The Cromford Market Index shows the volume of supply, 76, is basically the same as demand, 74. This means we are in a balanced market taking into account all of Maricopa County. Maricopa and Buckeye. (Normal is 100.)

• Directly from Cromford:

  • For the monthly period ending September 15, we are currently recording a sales $/SF of $294.34 averaged for all areas and types across the ARMLS database.This is up a massive 4.6% from the $281.50 we now measure for August 15.

  • We correctly forecast a rebound, but the size was even bigger than we anticipated - 4.6% rather than the 3.2% we calculated.

  • The last 4 months have been extremely volatile for price per sq. ft. which is partly a consequence of the lower completion counts.A smaller sample size tends to create more volatility in the averages.

  • The median sales prices have been much more stable since the high-end of the market has little to no effect on medians.

  • Anyone who was alarmed by last month's 4.2% dive must be relieved to see a bounce back of 4.6%.However you should not have been alarmed. Prices almost always take a dip during the third quarter before recovering again from September onwards. 2024 was quite a bit dippier than normal.

Are you considering buying or selling a home? Reply to this email or text me at 602-730-2143.

Fun Stat updates. Or boring, depending on your perspective.

• Active listings have been increasing since July 2024 and are now equal to where the volume was in December 2022.

• For all the HOME BUYERS out there considering buying a home between 1,000-2,500 sf: LOOK at that graph and CALL me ASAP!

• For all the Homeowners out there, DON'T look at the graph above. This isn't your time to shine.

• The hottest seller's markets, in fact the only 2 labeled at "hotter;" 85353 in Tolleson and 85310 in Glendale.

• All of Chandler is now a balanced market, except 85226. It continues to be "hotter."

• Not to be outdone,Gilbert is in a balanced market, though 85295 is considered a "hotter," as well.

• Mesa is either balanced or already in a buyer's market.

• New listings have been higher this year than they were all of last year, however, that means they are the 2nd lowest volume since it started being tracked in 2001.

• In a nutshell:

  • Sellers: only the prettiest and best priced homes are being purchased. Anything not at model gorgeous, or priced very competitively, is staying on the market.

  • Buyers: keep being picky, asking for seller concessions plus price reductions.You are in power, for now.

A warm thank you to the Cromford Report, and Tina Tamborer, for her invaluable insights and data for this update.

Please follow me for more fascinating LOCAL REAL ESTATE content.

When you hear a friend, family member, or co-work mention they are entertaining the idea of buying or selling a home,

pick up your phone call/text me immediately. Let's coordinate the best way for me to reach out and assist them.

Simply reply to this email or call/text me at 602-730-2143.

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Nancy Wittenberg