Audrey Myers

Do you want to buy a high priced home but worried you have to put 20% down? When your loan amount is over $548,250, it’s called a Jumbo loan and you have to put 20% down. But what if you don’t have that much money for a down payment?

You can get both a 1st and 2nd mortgage. Then you only need to put 10% down. Example. 20% of $548,250 is $151,750 down payment. 10% is $70,000. Bonus, your 2nd mortgage is at an extremely low interest rate and you can pay it off as soon as you’d like without a pre-payment penalty!

You don’t have to sweat about your huge downpayment. Contact me to hear more about a 1st and 2nd mortgage!

This is your agent Audrey and it’s time for a housing market update! Here’s the December 2021 top market update take-aways Cromford Report Slides:
1) There’s still a shortage of homes for sale due to population growth exceeding housing unit growth. Unlike in 2006 before the market crash which was an overbuilding period.
2) Both Phoenix and the Nationally homes are in the normal affordability range
3) Unemployment claims are down to pre-pandemic levels
4) Job gains in Arizona are 94% recovered from February 2020. Phoenix, Mesa Scottsdale are 102% recovered
5) Median lease price continues to rise at $2,200/per month
6) Loan Forbearances are down 22% over the past 30 days, representing the fastest rate of improvement since the start of the pandemic.
7) Pre-foreclosures (which are owners who are sent a delinquent missed payment notice to them by the bank) are down
8) Overall still a seller’s market

There you have it the top 8 market update take-aways from the December 2021 Cromford Report

Interest Rates p 19 30 year 3.14%, 15 year 2.37%, but rising – buy now!

The Market is HOT 🔥 in Phoenix, Arizona! 🌵 Check out the Valley’s Top 5 Most Expensive Homes Sold this Summer! 💰 💵

Listen👂to my FIRST ever Podcast appearance “Girl Educate Yourself!” a spinoff to the Podcast “Moms in Real Estate”. No retakes and no editing.😳

Girls and Guys in the real estate industry 🏠 “Don’t be a Lawyer, THINK like one!”

1️⃣ Be on the Offense 🏈, not the Defense! 😱

2️⃣ Do your Homework ahead of time! 📚Don’t be Unprepared.

3️⃣ Be Confident 💁🏼‍♀️ and Negotiate like a PRO! 💰 Don’t reveal confidential information and don’t be afraid to say “I don’t know.”🤷🏼‍♀️

If you’re looking for a 2-For-1 Agent 🏠👩🏼‍⚖️, I’m your girl! Please don’t hesitate to reach out to me! 💖

Did you know that waiting to buy a home could cost you BIG?! 💰 Example, a Buyer pays $415,000 for a home listed for sale at $400,000. That extra $15,000 costs the Buyer an additional $40/mo. When interest rates rise you can pay an extra $100/mo at $400,000 (a lower purchase price)! Don’t forget about factoring Interest Rates in your home buying decisions 🏡

How’s the Phoenix Market doing in July 2021? 🌵 Buyers rejoice, homes listed for sale have increased by 5% since July 4th! 📈 What that means is that Buyers face a little less competition when bidding for homes. In the Spring we were in a “Seller Frenzy” Market. Now it has settled at a “Hot Seller’ Market. We still have a ways to go before a balanced market, but we are on our way! 🙌🏻

Want to be WOW’d?! 😱 Check out the Top 10 Most Expensive Homes in Scottsdale, Paradise Valley, and Phoenix, Arizona! 💰 💵🌵

Not being able to pay your loan is a scary feeling! 😟 Thankfully, as a homeowner you have ways to avoid foreclosure.🙌🏻 No one wants the stress of losing their home AND going to Court!🏛 Watch this Video 👀 and you’ll feel a little better about your Loan Forbearance!

Buying a home in a Buyer’s Market isn’t necessarily the right thing to do. Instead, you should be buying when there’s a high likelihood your home value/equity is increasing!💰 In a Seller’s market, you are gaining equity in your home very quickly. Also, you should be buying when Interest Rates are very low.📉Rates are at a record low now and expected to increase. Don’t waste hundreds of dollars per month on interest (and thousands per year!) by waiting to buy a home.💵💵 Watch and learn when you should Buy a Home! 🧠