If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now.
As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. A real estate professional is the best resource to help you understand how much home equity you have and advise you on some of the ways you can use it.  Here are a few examples.
1. Buy a Home That Fits Your Needs
If 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 need something. ...

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.
While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why.
Millennial Homebuying Power
While there’s no denying higher mortgage rates are making it more challenging to afford a home today, many millennials are still eager and able to buy homes – whether it’s their first or they’re moving up. That’s in large part because of the value they place on education.
A recent article from First American says millennials may be the most educated generation in our nation’s history. Be. ...

What you need to know about the primary residence principal exemption.

You can potentially make up to $500,000 and not have to pay a single tax on it. This is called a primary residence principal exemption, and it states that if you decide to sell your home and you’ve lived in it for two out of the last five years, the money you make from that sale would not be taxed. A married couple wouldn’t have to pay any taxes on the gain from up to a $500,000 taxable event, and it’s $250,000 if you’re filing as a single person. This is a unique exemption that I’ve used myself, and I’ve seen clients use it to help them move to a more expensive property. 
The primary residence principal exemption isn’t a one-time exemption either, you can use it as many times as you want. Especially with how much equity people have gained in our real estate market over the last couple of years, they may be worried about how much they’d have to pay back in t ...

Here’s a quick update on Phoenix real estate heading into spring 2021.

Today we’re going to take a closer look at the spring market for Phoenix real estate in 2021. The word unprecedented is probably overused in today’s world, but it’s hard to find a better word to describe what’s happening right now.

"Homes are selling just as quickly as they’re listed."


For starters, we’re sitting at record-low inventory levels. There have never been this few homes for sale in Phoenix. Inventory is down almost 60% from where it was this time last year, and even that was low for our market. Additionally, homeowners have seen a 19% home appreciation rate year over year, so a lot of homeowners are sitting pretty with some nice equity in their properties.


The biggest things driving home price growth are record-low interest rates and an influx of people coming here from the coasts and other big cities. They’re able to offer a little more on ...

Are you concerned a housing bubble might be looming? In this post, I give you 3 reasons why the Phoenix Housing Market is nothing like the crisis we saw in 2005/2006. For more Phoenix real estate advice and tips on the current market, check out my youtube channel: https://www.youtube.com/channel/UCKwi5-5TiG3TIWWuY_GA8BA Reason # 1 - Rental Home Prices Are Rising Between 2000-2005 rental rates decreased as home prices increased. When home prices are increasing and rents are decreasing for the exact same home that is a strong signal of a real estate bubble. Today renters face stiff competition as rental rates are on the rise. Reason # 2 - Types of Buyers During the 2005 crisis, anyone could purchase multiple homes for little to no money down. Our buyers out there today are qualified with solid credit scores and the desire to live in that residence long term. Investors today are purchasing with all cash and typically 20% down, so we are seeing a lot of real money poured into the market. R! ...