Frank Russo's Blog

RE/MAX CEO Margaret Kelly on FOX News

RE/MAX CEO Margaret Kelly spoke to FOX Business News on Friday, May 10th about the recovering U.S. real estate market. The low inventory is impacting home prices, but as Margaret Kelly shares, this is good news for homeowners. 

The increase in property values is especially good news for underwater homeowners. Due to rising home values, 2.7 million homeowners who were  previously underwater, are now in a positive position.

Top 5 Reasons to Sell a Home Today

In today’s market, there are many opinions about the condition of the market and whether or not it is a good time to sell. Despite what you may have heard on the local news, here are 5 great reasons to consider selling a home today.

1. Supply is Low: Demand is High

The current number of homes that are available in our market has dropped to its lowest point since May of 2005. The month’s supply of homes for sale is down 21.6 percent from this time last year. Today, in our Arizona Multiple Listing Service (ARMLS) there are 12,251 active homes for sale. With 9,886 homes sale pending, this means we have just over a one month supply of homes for sale. The law of supply and demand, in our market, means you as a seller are in a very good position to sell your home, for top dollar.

2. Time to Upgrade

Although property values are up on average 25 percent from this time last year, we are still far below what homes were selling for in the hype of the boom back in 2003-2005. If you have a dream home in mind, now might be the time to take advantage of low prices and make the upgrade before property values climb any higher.

3. Bidding Wars: More Money In Your Pocket

In keeping with the law of supply and demand, the fact that we are seeing multiple offers on properties makes sense. And it makes even more sense that bidding wars mean more money in your pocket. More demand, or in other words, more buyers who want your home, the higher the dollar amount you get for your home.

4. New Homes: Unforeseen Competition

With the economy making a comeback, new homes have returned to our market place. Builder permits are up on average 50 percent in the Phoenix market place. With low inventory, buyers are turning to new homes as an alternative to bidding wars. And as a seller, new homes create an unforeseen competition for you.

5. We NEED More Homes to Sell

With just about a month’s supply of homes for sale, there is just not enough to meet the growing buyer demand. Recent studies done, report that despite the crash of the market and the negativity of mass foreclosures, most American’s plan to own a home at some point. The sale of a home is the number one thing that stimulates the economy. In order for our economy to continue its rebound, more homes need to come into the market place. We need more homes to sell!

If you have been kicking around the idea of selling your home, here are the top 5 reasons you should consider selling now. The Russo Team has been serving Valley homeowners for over thirty years. My team and I have the local experience and skill you need to sell your home for top dollar. Don’t miss out on the strong demand that exists in our market right now – call us today!

www.RussoTeam.com
602-864-1200

The Dream of Homeownership – even for youngsters 

In a recent article published by US News, thedream of homeownership is still alive, even for youngsters.

“Nearly seven in 10 Americans between the ages of 18 and 29 don't currently own a home, but plan to make the big purchase within the next 10 years, according to Gallup. Less than 10 percent of respondents in that age group said they have no plans to buy a home in the future.”

Due to a large number of foreclosures across the United States, homeownership dropped from nearly 70 percent of all Americans in 2004 to approximately 61 percent today. However, in recent polls, more than 80 percent of Americans say they will continue to own a home or plan to buy in the next ten years.

The dream of homeownership is full of potential – from quality of life, to tax incentives, to long-term wealth building. With property values on the rebound in our Phoenix market, now is a better time to consider a purchase, than later. Home prices in the metro Phoenix area, went up on average 25 percent in the last twelve months. Although good news for the overall economy, it might not be good news for buyers who are sitting on the fence. If you want to own a home, now is the time to act – why not make your dream of homeownership a reality today? Call the Russo Team – we can help you find a great deal in today’s market. 602-864-1200.

To read the full article published by US News, please click here.

Source: USnews.com

Tips for Successfully Marketing Your Home

Today, more than ever homeowners need to focus on creating a comprehensive plan for marketing their property. This video, Tips for Successfully Marketing Your Home, will show you that as RE/MAX agents, the Russo Team is uniquely qualified to help you successfully market your home. We have been serving Arizona homeowners for over thirty years with all their real estate needs - whether that is buying, selling, investing or short sale help, we have the experience you need to get the job done. 

If you have heard or read anything about the real estate market as of late, you should know that property values have gone up on average 25 percent in the Valley of the Sun. If you own a home and you had previously thought you could not sell, we may have good news for you. If you are interested in learning more about the current value of your home, please contact my team today. Frank

From Foreclosure to Freedom

When a homeowner is in danger of losing their home to foreclosure, it can be a very emotional time. Some homeowners feel angry others may feel shame or even helplessness. But one of the most common feelings for homeowners in this situation is that of being alone with no one to help. They often feel as if no one has experienced or understands their circumstances. Nothing could be further from the truth. There are millions of homeowners who have been in this exact situation, and many of them have found ways to get through it without having their future damaged by a foreclosure.

The Russo Team has helped many Arizona families who found themselves in danger of losing their homes. Instead of giving up, these clients sought help with us, to find a way to move on with their lives and protect their future.

If you or someone you know is in this situation, you are not alone! There are options for people who are still struggling with their mortgage. As a Certified Distressed Property Expert (CDPE), I am uniquely qualified to help you navigate all of your options and come up with the best possible solution. Contact me today for a free, confidential consultation and take the first step towards becoming the next success story.

Please visit me online at www.RussoTeamHelps.com for more information. Frank

In the real estate market today, there are incredible opportunities. You just have to know where to look.

There are two ways to make money in real estate investing: cash flow and appreciation. Cash flow should be your primary consideration when looking for properties to rent. The beauty of cash flow is that it provides income every month. It ensures that, no matter what is happening in the market, there will always be properties that make sense for investors. All you have to do is make sure that the math makes sense.

Although cash flow is the most important element to consider when investing in real estate, it doesn’t mean you should ignore appreciation. Appreciation occurs when the value of your property increases after you buy it.

The great thing about cash flow is that it exists in any market. Good markets and bad, there are always properties in which the math works out so that cash flow can be achieved. What makes today’s opportunity so unique is that so many of the properties can be bought at a discount or below true market value.

According to recent reports, property values on average in the Phoenix metro area, have increased approximately 25 percent. When you consider how far property values dropped during the market crash, this is positive news for sure. However, even though 2012 showed huge signs of improvement, there are still areas of the city that have a long way to go.

For investors, this opportunity is real, and it’s incredible. Savvy investors are taking advantage of this market because they recognize it is a once in a generation opportunity.

If you are interested in taking advantage of today’s unique market opportunities, please give me a call today. Frank

Mortgage Fraud Alert