CALL: 602-295-6807
  Troy Erickson Realtor
  • Home
    • Housing Market Reports >
      • Ahwatukee Foothills Real Estate Market Reports
      • Chandler Real Estate Market Reports
      • Gilbert Real Estate Market Reports
      • Mesa Real Estate Market Reports
      • Phoenix Real Estate Market Reports
      • Scottsdale Real Estate Market Reports
      • Tempe Real Estate Market Reports
      • Arizona MLS Market Reports - Home Sales and Stats
    • Chandler Services and Resources
    • Chandler Top Employers
    • Chandler Interactive Map
    • Ahwatukee Home Page
  • Search For Homes
    • Search All Arizona Homes For Sale (MLS)
    • Homes For Sale By East Valley City >
      • Chandler Homes For Sale
      • Ahwatukee Homes For Sale
      • Gilbert Homes For Sale
      • Mesa Homes For Sale
      • Phoenix Homes For Sale
      • Scottsdale Homes For Sale
      • Tempe Homes For Sale
    • Chandler Homes For Sale by Price Range >
      • Chandler Homes For Sale Under $300,000
      • Chandler Homes For Sale $300,000-$400,000
      • Chandler Homes For Sale $400,000-$500,000
      • Chandler Homes For Sale $500,000-$600,000
      • Chandler Homes For Sale $600,000-$700,000
      • Chandler Homes For Sale $700,000-$800,000
      • Chandler Homes For Sale $800,000-$900,000
      • Chandler Homes For Sale $900,000-$1,000,000
      • Chandler Luxury Homes For Sale Over $1,000,000
    • Chandler Homes For Sale by Top Neighborhood >
      • Abralee Meadow
      • Arden Park
      • Circle G at Riggs Homestead Ranch
      • Clemente Ranch
      • Cooper Commons
      • Fox Crossing
      • Fulton Ranch
      • Ocotillo
      • Rancho Del Ray
      • Sun Groves
      • Wild Tree
    • Chandler AZ Homes for Sale in Active Adult Communities >
      • Sun Lakes Homes For Sale >
        • More About Sun Lakes Active Adult Community
      • Springfield Homes For Sale
      • Sunbird Homes For Sale
    • East Valley Homes For Sale by High School and School District >
      • Homes For Sale in the Chandler School District >
        • Basha High School
        • Casteel High School
        • Chandler High School
        • Hamilton High School
        • Perry High School
      • Homes For Sale in the Gilbert School District >
        • Campo Verde High School
        • Desert Ridge High School
        • Gilbert High School
        • Highland High School
        • Mesquite High School
      • Homes For Sale In The Kyrene School District
      • Homes For Sale in the Mesa School District >
        • Dobson High School
        • Mesa High School
        • Mountain View High School
        • Red Mountain High School
        • Skyline High School
        • Westwood High School
      • Homes For Sale in the Phoenix School District >
        • Alhambra High School
        • Betty Fairfax High School
        • Camelback High School
        • Carl Hayden High School
        • Central High School
        • Cesar Chavez High School
        • Maryvale High School
        • North High School
        • South Mountain High School
        • Trevor Browne High School
      • Homes For Sale in the Scottsdale School District >
        • Arcadia High School
        • Chaparral High School
        • Coronado High School
        • Desert Mountain High School
        • Saguaro High School
      • Homes For Sale in the Tempe School District >
        • Corona del Sol High School
        • Desert Vista High School
        • Marcos de Niza High School
        • McClintock High School
        • Mountain Pointe High School
        • Tempe High School
    • Chandler Homes For Sale By Bedrooms >
      • Chandler 2 Bedroom Homes For Sale
      • Chandler 3 Bedroom Homes For Sale
      • Chandler 4 Bedroom Homes For Sale
      • Chandler 5+ Bedroom Homes For Sale
    • Chandler Homes For Sale Zip Code >
      • Chandler Homes in Zip Code 85224
      • Chandler Homes in Zip Code 85225
      • Chandler Homes in Zip Code 85226
      • Chandler Homes in Zip Code 85248
      • Chandler Homes in Zip Code 85249
      • Chandler Homes in Zip Code 85286
    • Chandler Specialty Properties >
      • Chandler Homes For Sale With A Pool
      • Chandler AZ Horse Properties
      • Chandler AZ Homes for Sale in Golf Course Communities
      • Chandler Lakeside Homes >
        • Chandler Waterfront Homes
      • Chandler Basement Homes
      • Chandler Gated Community Properties
      • Chandler Luxury Homes $1,000,000+
      • Single Story Chandler Homes For Sale
      • Chandler Homes For Sale on Half Acre or More
      • Preforeclosures, Short Sales and Bank Owned Properties
      • Chandler Condos and Townhomes For Sale
    • Our Featured Homes For Sale
  • Buyers
    • Home Buyer Cash Back Program
    • Home Exchange Program
    • The Home Buying Process >
      • Buying My First Home
      • Home Buying 101 Videos
      • 10 Mistakes to Avoid
      • 15 Things Every Home Buyer Should Know
      • 5 First Time Home Buyer Mistakes To Avoid
      • 9 Great Reasons to Get Pre-Approved For a Home Loan
    • FREE Home Buyers Guide
    • Home Financing and Mortgage Rates >
      • Calculating My Monthly Payment - Calculators
      • The Loan Process
      • Closing Disclosure Forms
      • Closing Costs >
        • What Are Mortgage Points
        • Lower Payments With Discount Points
      • What is a FICO Score?
      • 6 Steps to Ensure a Smooth Home Purchase
      • Things Not To Do Before Closing
    • Home Buyers Checklist
    • Moving to Chandler? >
      • FREE Chandler Relocation Guide
      • Chandler City Info
      • Chandler Schools in the Chandler School District >
        • Chandler School District and Boundary Maps
        • Kyrene School District and Boundary Maps
        • Tempe School District and Boundary Maps
    • Title and Escrow >
      • Ways to Hold Title in Arizona
      • The Escrow Process
      • Explanation of Title Commitment
      • Closing My Escrow in Arizona
      • After My Home In Arizona Closes
    • Home Inspection >
      • Top 10 Defects Found During a Home Inspection
    • Benefits of Home Ownership >
      • Tax Benefits of Owning a Home
    • Additional buyer Info and Forms
    • Q & A
  • Sellers
    • Home Seller Guaranteed Savings Program
    • Home Exchange Program
    • The Home Selling Process >
      • 18 Steps to Selling My Home
      • 6 Tips to Selling Your Home
      • Enhancing Curb Appeal
      • 15 Home Listing Tips
      • The Worst Home Selling Mistake a Homeowner Can Make
      • 8 Most Frequently Asked Seller Questions
    • We Sell Homes
    • FREE Home Sellers Guide - Winter
    • How Much is My Home Worth?
    • What Are Homes Selling For In My Neighborhood?
    • Closing Costs
    • Short Sale Info
    • Absorption Rate
    • Home Warranty
    • Selling My Home "For Sale By Owner"
    • Additional Seller Info and Listing Forms
  • Contact Us
    • Client Testimonials
    • About Us >
      • Why work with Troy and Mia?
    • Awards
    • Role of the Realtor >
      • It May Pay to Work With A Realtor
  • East Valley Real Estate Blog
  • Chandler Area Schools
    • Chandler School District and Boundary Maps
    • Kyrene School District and Boundary Map
    • Tempe School District and Boundary Map
  • Helpful Real Estate Videos
  • Chandler City Map
  • Glossary of Real Estate Terms
  • Real Estate News
  • Things To Do In Arizona
  • Home Swap Program - KNOCK

Is It Enough To Offer Asking Price in Today’s Housing Market?

4/26/2022

0 Comments

 

Is It Enough To Offer Asking Price in Today’s Housing Market?

Buying a home in Phoenix AZ
If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price.

In today’s real estate market, buyers shouldn’t shop for a home with the same expectations.

Things Are Different Today

​
Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today:

  • Receives 4.8 offers
  • Sells in just 17 days

Homes selling quickly and receiving multiple offers shows how competitive the housing market is for buyers right now. This is because there are more buyers on the market than homes for sale. When the number of homes available can’t keep up with demand, homes often sell for more than the asking price.
​
How Does This Impact You When It’s Time To Submit an Offer?
​

Market conditions should help guide your decisions throughout the process. Today, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it’s time to submit an offer, but you should also use that information as you’re searching for homes too. After all, you don’t want to fall in love with a home that ultimately sells for a price higher than what you’ve budgeted for.
​

The Mortgage Reports has advice if you’re looking to purchase a home in a competitive market. The article encourages you to be realistic with your housing search, saying:
​
“The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier.”

Of course, when you’ve found your dream home, you’ll want to do everything you can to submit your best offer up front and win a potential bidding war. Knowing the current market is key to crafting a winning offer. That’s where working with an expert real estate advisor becomes critical.

A real estate professional will draw from their experience and expert-level knowledge of today’s housing market throughout the process. They’ll also balance conditions in your area to make sure your offer stands out above the rest.

Bottom Line

Understanding how to approach the asking price of a home and what’s happening in today’s real estate market are critical for buyers. Let’s connect so we can work together to create a winning plan for you.
​
Feel free to reach out to me if you have any questions about buying a home. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Buying a home in todays market
Home buying with high competition and low inventory
Buying a home in today's housing market

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Down Payment Assistance Programs Can Help You Achieve Homeownership

3/3/2022

0 Comments

 

Down Payment Assistance Programs Can Help You Achieve Homeownership

Down Payment Assistance Programs
For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows:

                    “For first-time home buyers, 29 percent said saving for a                                                 downpayment [sic] was the most difficult step in the process.”

If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that can help you achieve your goals. The key is understanding where to look and learning what options are available. Here’s some information that can help.

First-Time and Repeat Buyers Are Often Eligible

According to downpaymentresource.com, there are thousands of financial assistance programs available for homebuyers, like affordable mortgage options for first-time buyers. But, of the many programs that are available, down payment assistance options make up the large majority. They say 73% of the assistance available to homebuyers is there to help you with your down payment.

And it’s not just first-time homebuyers that are eligible for these programs. Downpaymentresource.com notes:

                         “You don’t have to be a first-time buyer. Over 38% of all
                        programs are for repeat homebuyers who have owned
                                                a home in the last 3 years.”


That means no matter where you are in your homeownership journey, there could be an option available for you.

There Are Local Programs and Specialized Programs for Public Servants

There are also multiple down payment assistance resources designed to help those who serve our communities. Teacher Next Door is one of those programs:

                    “The Teacher Next Door Program was designed to increase home
                     ownership among teachers and other public servants, support
                     community development and increase access to affordable housing
​                                                     free from discrimination.”


Teacher Next Door is just one program that seeks to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals.

And, most importantly, even if you don’t qualify for these types of specialized programs, there are many federal, state, and local programs available for you to explore. And the best way to do that is to connect with a local real estate professional to learn more about what’s available in your area.

Bottom Line

​
If saving for a down payment seems daunting, there are programs available that can help. And if you work to serve your community, there may be even more opportunities available to you. To learn more about your options, connect with a local real estate advisor and start your homebuying journey today.

If you’re thinking of buying a home, interest rates remain historically low. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Picture
Picture
Picture

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

How Much Do You Need for Your Down Payment?

1/27/2022

0 Comments

 

How Much Do You Need for Your Down Payment?

Saving for a down payment on a home
As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?

If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says:
“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”
Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today, that number is only 13%. And it’s even lower for first-time homebuyers, whose median down payment is only 7% (see graph below):
Down payment on a home
What Does This Mean for You?

​
While a down payment of 20% or more does have benefits, the typical buyer is putting far less down. That’s good news for you because it means you could be closer to your homebuying dream than you realize.

If you’re interested in learning more about low down payment options, there are several places to go. There are programs for qualified buyers with down payments as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.
​

To understand your options, you need to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.
Bottom Line
​
Remember: a 20% down payment isn’t always required. If you want to purchase a home this year, reach out to a trusted real estate professional to start the conversation and explore your down payment options.

​Owning a home provides one of the strongest foundations for building individual wealth and lasting financial security. If you’re ready to start your path towards homeownership, talk with a trusted real estate advisor today.
​

If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

How much do I need for a down payment?
You don't need 20% for a down payment
Minimum down payment of 3.5%

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

The Difference in Net Worth Between Homeowners and Renters Is Widening

8/30/2021

0 Comments

 

The Difference in Net Worth Between Homeowners and Renters Is Widening

How to build wealth in Arizona
Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays in building wealth:
​
“Home ownership is one of the indicators Americans say is least connected to financial health.”

​Two major personal wealth goals – homeownership and net worth – work hand-in-hand. Below are just a few reasons why, if you’re looking for financial security, homeownership should be a top priority.
​

Homeownership Is an Important Cornerstone of Building Wealth

Every three years, the Federal Reserve releases the Survey of Consumer Finances which highlights the difference in wealth between homeowners and renters. The graph below shows the findings across the previous surveys including the latest data (2019), and the results are staggering:
How much housing wealth can you build in a decade?
As the graph illustrates, the gap between homeowners and renters continues to widen. That’s because homeownership contributes massively to an individual’s overall net worth. Odeta Kushi, Deputy Chief Economist at First American, highlights this idea:
​
“. . . between 2016 and 2019, housing wealth was the single biggest contributor to the increase in net worth across all income groups . . . .”

​When we look even closer at the most recent data from 2019, the average homeowner’s net worth is more than 40 times greater than that of the average renter (see graph below):
Owning a home is still more affordable than renting one
The gap exists in large part because homeowners build equity as their home appreciates in value and they pay off a portion of their mortgage each month. When you own your home, your monthly mortgage payment is, in essence, forced savings that come back to you when you sell your home or refinance. As a renter, you’ll never see a return on the money you pay out in rent every month.
​

If you’re ready to start building your net worth, the current real estate market offers several opportunities you should consider. For example, with today’s low mortgage rates, your purchasing power may be higher now than it has been in some time. That means there may be no better time than now to start working towards your homeownership goals – especially since rates are anticipated to rise in the coming months.
Bottom Line
​
​Owning a home provides one of the strongest foundations for building individual wealth and lasting financial security. If you’re ready to start your path towards homeownership, talk with a trusted real estate advisor today.
​

If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor | LinkedIn
Troy Erickson Realtor | Facebook
Troy Erickson Realtor | Twitter

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Best Real Estate Agent in Ahwatukee - Troy Erickson Realtor

10/10/2020

2 Comments

 

Best Real Estate Agent in Ahwatukee - Troy Erickson Realtor

Ahwatukee, which loosely translated means 'the land in the next valley', is an affluent community in the beautiful Sonoran Desert. Believe it or not, it was first developed by George Presley, the uncle of Elvis Presley, in 1972, and has been home to many famous people ever since. Professional athletes, musicians, authors, and politicians all call Ahwatukee home, and it's no wonder why.

Ahwatukee is in Maricopa County, and is the southernmost of the 15 urban villages of Metro Phoenix. With a population of just over 80,000, it is the one with the strongest sense of independence. Even though Ahwatukee has a Phoenix address, there is not doubt that residents will tell you they live in Ahwatukee.
Best Ahwatukee Real Estate Agent - Troy Erickson Realtor
Ahwatukee Golf - Foothills Golf Club
Ahwatukee is a community that has capitalized on its scenic landscape. The neighborhood streets wind up and down the natural slopes of the foothills of South Mountain. The community has used low sodium street lights which adds to the community's ambiance in the evening. Ahwatukee is aptly referred to as the world's largest cul-de-sac because  it is surrounded completely by South Mountain, the Gila Indian Reservation and the I-10 interstate, making it landlocked, yet accessible to every place and everything residents could desire.

Being nestled at the base of South Mountain Park, the largest municipal park in the US at over 16,281 acres, there are miles and miles of hiking trails that make hiking one of the most popular outdoor recreational activities in the area. Ahwatukee also has several municipal golf courses for the golf enthusiast, with many other world class golf courses nearby that offer a variety for golfers of any age and ability. In addition, cycling has become quite popular in Ahwatukee due to the number of parks, large open spaces, and rural feel.

Sheraton Wild Horse Pass - Ahwatukee
Ahwatukee also has great restaurants, shopping, and entertainment. Dining out is a real staple for those who call Ahwatukee home. Service is top notch, prices are fair, and the restaurants are brimming with patrons who enjoy a nice evening out. Ahwatukee also has a plethora of department stores, shopping malls, and specialty boutiques, of which many reside along the I-10 freeway for easy access, to provide a variety of shopping options for it's residents. There's even the Phoenix Premium Outlets Mall nearby, and for additional entertainment, there is the AMC Ahwatukee 24 movie theater, as well as the Wild Horse Pass Hotels and Casino. Looking for more entertainment, you can find it just south of Ahwatukee, at Rawhide Western Town and Rodeo Arena, as well as the Wild Horse Pass Motorsports Park.

Ahwatukee is also a great location for those who work in Phoenix, or those who travel frequently, as Phoenix Sky Harbor International Airport is just a quick commute up the I-10 freeway.

While the community exudes affluence, with beautifully kept yards, a number of parks with lakes and palm trees, and homes artfully blended in with their surrounding environment, residents in the small community are warm, friendly, and kind.
Arizona State University - Tempe, AZ
Many families moved to Ahwatukee because it is served by the Kyrene School District, which has one of the best reputations in the entire state of Arizona. The two high schools, Desert Vista and Mountain Pointe, are also highly rated, and offer a fun, friendly competition for bragging rights within the community. Due to its proximity to Arizona State University, many young adults go on to attend the University and remain at home until graduation, providing those families something many other valley cities cannot boast of, which is a place where families start young and the parents stay until their golden years.

Ahwatukee Homes For Sale
As a result, Ahwatukee also has a considerable number of retired people that call it home. Just visit a local coffee house about mid morning on a weekday and you will find a group of retirees enjoying a pot of coffee, pastries and good conversation.

Residents of Ahwatukee enjoy a friendly, small-town atmosphere, while having access to the amenities of a large metro nearby. Ahwatukee is a place where families, retirees, and famous folks can live, work and play in harmony, creating a community where anyone can come and feel welcome. If you think Ahwatukee may be for you, contact Troy Erickson Realtor for more information about the Ahwatuke Foothills, and Ahwatukee homes for sale in Phoenix, Arizona!

Ahwatukee Real Estate
The Ahwatukee real estate market has exploded over the years, and Ahwatukee homes for sale are highly sought-after by both families and investors. There are a variety of homes to be found in Ahwatukee in an array of price points, from custom built luxury estates backing up to the South Mountain Preserve, to cozy condos or waterfront homes in a lake community. There are also several master-planned communities within Ahwatukee that offer residents access to golfing, tennis, fitness centers, community pools, spas, and community centers. 

The demand for quality homes is high, and the supply is low, so it is crucial that you partner with one of the best real estate agents in Ahwatukee who can navigate the local market, find you the right home, negotiate the offer, and ensure a smooth closing, all on your schedule.

Top Ahwatukee Realtor - Troy Erickson Realtor
Troy Erickson is an annually award-winning real estate specialist, and top rated REALTOR® in Ahwatukee. He has been licensed since 2006, providing his expertise to helping buyers, sellers, and investors just like you. Living in Ahwatukee when they first moved to Arizona in 1996, and having a son attend high school in Ahwatukee, Troy knows the community inside and out. He is uniquely qualified to provide information to you on the variety of neighborhoods, types of homes and home builders, the schools in the area, and the current market conditions.

Homes For Sale in Ahwatukee AZ
Troy can help put together a list of available homes for sale in Ahwatukee that meets all your needs. His years of service and experience, as well as his professional and friendly demeanor will put you at ease that your home search is in the right hands. Troy will work directly with you through every step of the purchase, or sale of your home. You can get the process started by giving Troy a call or text directly at 602-295-6807. Working with an experienced local real estate agent who specializes in Ahwatukee home sales will allow you to find the right place that feels like "Home".​

Ahwatukee is one of the best places to live in Arizona hands down. If you are looking for a new home in a newer, upscale, family-friendly community, nestled around the beauty of the Sonoran Desert and the foothills of South Mountain, then working with Troy Erickson Realtor, the Best Real Estate Agent in Ahwatukee, and looking at homes for sale in Ahwatukee should be at the top of your list.
Luxury Homes For Sale in Ahwatukee
When you’re ready to buy or sell – or maybe both – reach out to me so we can put your plans in motion. With low mortgage rates leading the way, it’s a great time to take advantage of your position in today’s market.

If you’re thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.


If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
2 Comments

Three Reasons Homebuyers Are Ready to Purchase This Year

8/24/2020

0 Comments

 

Three Reasons Homebuyers Are Ready to Purchase This Year

Home Buyers ready to purchase this year
A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year (see graph below):
Reasons why buyers are ready to purchase this year
Let’s break down why these are a few of the key factors motivating buyers to actively engage in the home search process, and the corresponding wins for sellers as well.

1. Low Mortgage Rates

The biggest reason potential homebuyers indicated they’re eager to purchase this year is due to current mortgage rates, which are hovering near all-time lows. Today’s low rates are making it more affordable than ever to buy a home, which is a huge incentive for purchasers. In fact, 67% of respondents in the Lending Tree survey want to take advantage of low mortgage rates. This is no surprise when comparing historic mortgage rates by decade (see below):
History of mortgage rates by decade
Sam Khater, Chief Economist at Freddie Mac recently said:

                         “As the economy is slowly rebounding, all signs continue to point to a solid recovery in
                         home sales activity heading into the summer as prospective buyers jump back into the
                                          market. Low mortgage rates are a key factor in this recovery.”


2. Reduced Spending

Some people have also been able to save a little extra money over the past few months while sheltering in place. One of the upsides of staying home recently is that many have been able to work remotely and minimize extra spending on things like commuting expenses, social events, and more. For those who fall into this category, they may have a bit more saved up for down payments and closing costs, making purchasing a home more feasible today.

3. Re-Evaluating Their Space

Spending time at home has also given buyers a chance to really evaluate their living space, whether renting or as a current homeowner. With time available to craft a wish list of what they really need in their next home, from more square footage to a more spacious neighborhood, they’re ready to make it happen.

What does this mean for buyers and sellers?

With these three factors in play, the demand for housing will keep growing this year, especially over the summer as more communities continue their phased approach to reopening. Buyers can take advantage of additional savings and low mortgage rates. And if you’re thinking of selling, know that your home may be in high demand as buyer interest grows and the number of homes for sale continues to dwindle. This may be your moment to list your house and make a move into a new space as well.
​Bottom Line

If you’re ready to buy or sell – or maybe both – reach out to a local real estate professional to put your plans in motion. With low mortgage rates leading the way, it’s a great time to take advantage of your position in today’s market.

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Reach out to a local real estate professional today to make sure you can get your house in on the action this summer.


If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page
​
​Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

7/16/2020

0 Comments

 

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

Mortgage Rates Hit Record Low For Three Consecutive Weeks
​Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):
30-Year Fixed Rate Mortgage Rate Reaches Lowest Level in Survey History
What does this mean for buyers?

This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:
​

Vertical Divider
“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”
Vertical Divider
​​
​In addition, move.com notes:
​
Vertical Divider
​“Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com® monthly traffic hit an all-time high of 86 million unique users in June 2020, breaking May’s record of 85 million unique users. Realtor.com® daily traffic also hit its highest level ever of 7 million unique users on June 25, signaling that despite the global pandemic buyers are ready to make a purchase.”
Vertical Divider
​
​Clearly, buyers are capitalizing on today’s low rates. As shown in the chart below, the average monthly mortgage payment decreases significantly when rates are as low as they are today.
Picture
A lower monthly payment means savings that can add up significantly over the life of a home loan. It also means that qualified buyers may be able to purchase more home for their money. Maybe that’s a bigger home than what they’d be able to afford at a higher rate, an increasingly desirable option considering the amount of time families are now spending at home given today’s health crisis.

Bottom Line

If you’re in a position to buy a home this year, it’s a great time to reach out to a local real estate professional to initiate the process while mortgage rates are historically low.

Feel free to reach out to me if you have any questions about the home buying process in Chandler or the East Valley. As a trusted real estate professional, I can answer your questions and help you determine your next steps. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

​Troy Erickson
 has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Why This Summer Is the 2020 Real Estate Season

6/25/2020

0 Comments

 

Why This Summer Is the 2020 Chandler and East Valley Real Estate Season

Summer of 2020 is the new real estate season for Chandler and the East Valley. Troy Erickson Realtor
​With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

                    “Applications for home purchases continue to recover from April’s sizable drop and have
                      now increased for five consecutive weeks…Government purchase applications, which
​                       include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which
                        is an encouraging turnaround after the weakness seen over the past two months.”


Additionally, according to Google Trends, which scores search terms online, searches for real estate increased from 68 points the week of March 15th to 100 points the week of June 20th (the highest it has been in a year). As we can see, more potential homebuyers are looking for homes virtually.

What’s the Opportunity for Buyers?

Another reason buyers are coming back to the market, even with forced unemployment and stay-at-home orders, is historically low mortgage rates. Sam Khater, Chief Economist at Freddie Mac indicates:

                         “For the fourth consecutive week, the 30-year fixed-rate mortgage has been below
                    3.30 percent, giving potential buyers a good reason to continue shopping even amid the
                    pandemic…As states reopen, we’re seeing purchase demand improve remarkably fast,
                                              now essentially flat relative to a year ago.”


With mortgage rates at such low levels and states gradually beginning to reopen, there’s more incentive than ever to buy a home this summer.

What’s the Opportunity for Sellers?

​
Finding a home to buy, however, is still a challenge, as this spring sellers removed many listings from the market. Though more people are now putting their houses up for sale this month as compared to last month, current inventory is still well below last year’s level.

According to last week’s Weekly Economic and Housing Market Update from realtor.com:

                          “Weekly Housing Inventory showed continued tightening. New Listings declined 28%
                    compared with a year ago, as sellers grappled with uncertainty and hesitated bringing homes
                       to market. Total Listings dropped 20% YoY, a faster rate than in prior weeks, leaving very
                            few homes available for sale. As Time on Market was 15 days slower YoY, asking
                                                                     prices moved up 1.5% YoY.”


If you’re thinking of selling your house this summer, now may be your best opportunity. With so few homes on the market for buyers to purchase, this season may be the time for your house to stand out from the crowd. Trusted real estate professionals can help you list safely and effectively, keeping your family’s needs top of mind. Buyers are looking, and your house may be at the top of their list.
Bottom Line

If you’re thinking of selling, many buyers may be eager to find a home just like yours. Reach out to a local real estate professional today to make sure you can get your house in on the action this summer.


If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

​Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Why Home Equity Is a Bright Spark in the Housing Market

6/21/2020

0 Comments

 

Why Home Equity Is a Bright Spark in the Housing Market

Home equity is a bright spot in the housing market
Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down what unemployment means for homeownership, and understanding the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty.

One of the biggest questions right now is whether this historic unemployment rate will initiate a new surge of foreclosures in the market. It’s a very real fear. Despite the staggering number of claims, there are actually many reasons why we won’t see a significant number of foreclosures like we did during the housing crash twelve years ago. The amount of equity homeowners have today is a leading differentiator in the current market.

Today, according to John Burns Consulting, 58.7% of homes in the U.S. have at least 60% equity. That number is drastically different than it was in 2008 when the housing bubble burst. The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth. Homeowners simply walked away at that point. Now, 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear. Those homes are not at risk for foreclosure (see graph below):
Home owners have built a lot of equity over the years
In addition, CoreLogic notes the average equity mortgaged homes have today is $177,000. That’s a significant amount that homeowners won’t be stepping away from, even in today’s economy (see chart below):
Building equity by owning your home
In essence, the amount of equity homeowners have today positions them to be in a much better place than they were in 2008.

Bottom Line

The fear and uncertainty we feel right now are very real, and this is not going to be easy. We can, however, see strength in our current market through homeowner equity that has not been there in the past. That may be a bright spark to help us make it through.


​If you’re thinking of buying a home and starting to build your equity, you may have more options than you think. A trusted real estate professional can answer your questions and help you determine your next steps. Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

​Troy Erickson
 has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments

Two Big Myths in the Homebuying Process

6/1/2020

0 Comments

 

Two Big Myths in the Home Buying Process

How much down payment do I need to buy a home in Chandler | Troy Erickson Realtor
The 2020 Millennial Home Buyer Report shows how this generation is not really any different from previous ones when it comes to homeownership goals:

                    “The majority of millennials not only want to own a home, but 84% of millennials in 2019
                                                considered it a major part of the American Dream.”


Unfortunately, the myths surrounding the barriers to homeownership – especially those related to down payments and FICO® scores – might be keeping many buyers out of the arena. The piece also reveals:

                    “Millennials have to navigate a lot of obstacles to be able to own a home. According to our
                        2020 survey, saving for a down payment is the biggest barrier for 50% of millennials.”

​

Millennial or not, unpacking two of the biggest myths that may be standing in the way of homeownership among all generations is a great place to start the debunking process.
Myth #1: “I Need a 20% Down Payment”

Many buyers often overestimate what they need to qualify for a home loan. According to the same article:

                    “A down payment of 20% for a home of that price [$210,000] would be about $42,000;
                     only about 30% of the millennials in our survey have enough in savings to cover that,
                                                       not to mention the additional closing costs.”

​

While many potential buyers still think they need to put at least 20% down for the home of their dreams, they often don’t realize how many assistance programs are available with as little as 3% down. With a bit of research, many renters may be able to enter the housing market sooner than they ever imagined.
Myth #2: “I Need a 780 FICO® Score or Higher”

In addition to down payments, buyers are also often confused about the FICO® score it takes to qualify for a mortgage, believing they need a credit score of 780 or higher.
​

Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans, shows the truth is, over 50% of approved loans were granted with a FICO® score below 750 (see graph below):
What FICO score do I need to buy a home in Chandler | Troy Erickson Realtor
Even today, many of the myths of the homebuying process are unfortunately keeping plenty of motivated buyers on the sidelines. In reality, it really doesn’t have to be that way.

Bottom Line

​
If you’re thinking of buying a home, you may have more options than you think. A trusted real estate professional can answer your questions and help you determine your next steps.

Need to buy a home during this Coronavirus crisis, we can help you. We have adjusted the way we work with home buyers and sellers, and have the processes and resources in place to help. Feel free to reach out to me if you have any questions about what it takes to get your Phoenix Metro or East Valley home sold during these trying times. Just give me a call/text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

​Troy Erickson
 has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
0 Comments
<<Previous

    Chandler and East Valley Blog: Troy Erickson Realtor

    Picture

    Troy Erickson

     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

    HOMES FOR SALE:
    AHWATUKEE
    ​HOMES FOR SALE
    CHANDLER
    ​HOMES FOR SALE
    GILBERT
    HOMES FOR SALE
    MESA
    HOMES FOR SALE
    PHOENIX
    HOMES FOR SALE
    TEMPE
    HOMES FOR SALE
    OUR FEATURED HOMES FOR SALE

    Categories

    All
    COVID 19 Coronavirus
    Featured Homes For Sale
    First Time Home Buyer
    Home Buying
    Home Mortgage
    Home Selling
    Local Events
    Market Reports Ahwatukee
    Market Reports Chandler AZ
    Market Reports Gilbert AZ
    Market Reports Mesa AZ
    Market Reports Phoenix AZ
    Market Reports Scottsdale
    Market Reports Tempe AZ
    Realtor Advice
    Why Hire Troy Erickson Realtor


    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    March 2018
    February 2018
    January 2018
    September 2017
    July 2017
    April 2017
    March 2017
    February 2017
    September 2016
    August 2016
    January 2014
    May 2013


      Contact Me:

    Submit
    View my profile on LinkedIn

    RSS Feed


    Best Chandler Realtor - Troy Erickson Realtor
Powered by Create your own unique website with customizable templates.
Powered by Create your own unique website with customizable templates.


For more information – Contact Troy at (602) 295-6807, or TroyEricksonRealtor@gmail.com today.
Chandler Arizona Real Estate Search

Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
See more at: ChandlerRealEstate.weebly.com