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Wednesday, November 24, 2021   /   by Juan Grimaldo

How Smart Buyers Are Approaching Rising Mortgage Rates

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:

“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.”

If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.
Taking Time Off Can Be Costly
Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates wil ...

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Tuesday, November 23, 2021   /   by Juan Grimaldo

4 Ways Homeowners Can Use Their Equity

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.

If you’re looking for the best ways to use your growing equity, here are four options:
1. Use Your Equity To Buy a Home That Fits Your Needs
If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have too much space and would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by caring for a smaller home.
2. Move t ...

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Monday, November 22, 2021   /   by Juan Grimaldo

National, global companies sign leases for upcoming West Valley project

A Goodyear industrial project developed by Phoenix-based ViaWest Group totaling 415,000 square feet landed two pre-leases with global and national companies before the project completed.
Called Goodyear Crossing Industrial Park, the project is comprised of three buildings that are 284,290 square feet, 68,154 square feet and 58,473 square feet on the southwest corner of Sarival Avenue and West Elwood Street. The project is expected to be completed by early 2022.
So far, Kentucky-based BC Recycling Asset Recovery Solutions has signed a lease for about 140,000 square feet, or half of one of the buildings. BC Recycling provides product acquisition, sorting and reporting services to minimize the impact of excess business inventories, according to its website.
A second lease for 55,000 square feet was also recently signed by a Switzerland-based company called Georg Fischer, which is a “preferred partner” for the safe transport of liquids and gases, lightweight castin. ...

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Friday, November 19, 2021   /   by Juan Grimaldo

Corridor identified for planned Interstate 11 in Arizona

The Arizona Department of Transportation and the Federal Highway Administration have selected the route for a 280-mile stretch of freeway, called Interstate 11, which will run from Nogales to Wickenburg.

The route has long been discussed as a streamlined travel method from Phoenix to Las Vegas, and to enhance the transportation of goods from Mexico into the United States.

The two agencies published a selected corridor, which is 2,000 feet — less than half a mile— wide, where the proposed freeway could run. In later steps, the corridor will be narrowed to a maximum 400-foot-wide alignment, but at this time there is no plan or funding for the next phase of studies, the agencies said in a press release.

The announcement follows the passage of the $1 trillion Infrastructure Investment and Jobs Act, which includes $110 billion of new funds for roads, bridges and other major projects, but Interstate 11 is not specifically mentioned.

To continue reading, click here.&nb ...

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Thursday, November 18, 2021   /   by Juan Grimaldo

Home Sales About To Surge? We May See a Winter Like Never Before.

Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year.
Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off.
Last year, however, that seasonality didn’t happen. The outbreak of the virus and subsequent slowing of the economy limited sales during the spring market. These sales were pushed back later in the year, and last fall and winter saw a dramatic increase in home sa ...

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Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395

© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. November 27, 2021
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