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Standard Arizona Real Estate contracts include contingencies that allow buyers to get their earnest money back. The main contingency is not qualifying for the mortgage.

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Historically, May was the prime month for home sales, but in recent times, June has shown better results. Zillow's report indicates that homes listed in the first half of June last year sold for ~$7,700 more on avg.

Fed officials project 3 rate cuts in 2024 despite high inflation. Inflation forecast revised up, expected to stay above 2.5% this year.

Homeownership is a significant milestone despite its cost. First-time homebuyer programs in Arizona offer assistance with down payments and mortgages. Programs like HOME+PLUS Fannie Mae and Freddie Mac provide fixed-rate mortgages and down payment help. National programs like FHA, VA, and USDA loans offer options for low credit, veterans, and rural/suburban properties. Continue to full…

Arizona Association of Realtors anticipates a positive year for housing, expecting a decrease in interest rates. Experts predict a resurgence of buyers with stabilizing interest rates, emphasizing the role of Real Estate agents.

When buying a home, successful negotiation depends on understanding market value, finances, and inspection results. Tips include researching market value, knowing finances, and using a home inspection. Negotiate for price, repairs, warranties, closing costs, and other terms. Consider walking away if terms are unacceptable. Continue to full article

Arizona lawmakers aim to limit cities' single-family home standards, proposing to override zoning laws in populous areas. The proposals' aim to encourage the development of "starter homes" by reducing lot sizes and costs for developers.

Survey data indicates 72% of potential homebuyers wait for rates below 5%. Major forecasts project mortgage rates staying above 6% until 2025.