Why NOW is the Perfect Time to Buy a Home For several months our team at The Cusick Group has been reading articles quoting Dave Ramsey, who continues to advise those who trust his financial advice to buy now. As Ramsey explains it, while everyone may be waiting for rates to come down, price appreciation continues to rise. Our team’s favorite thing to tell our clients” “Marry the House, Date the Rate,” or rather, buy the house you want now, and refinance when the rates go down.   The Phoenix Housing Market- Summer 2020 To understand whether now is a great time to buy or not, take a step b ..read more

Phoenix Ranks as a “House-rich” City In recent years, Phoenix has been making waves not only for its scorching temperatures but also for a notable distinction – it ranks among the major U.S. cities where residents are most house-rich. A recent study has shed light on Phoenix’s standing, revealing intriguing insights into the housing market of the Valley of the Sun. Phoenix Grabs a Top Spot According to a recent study done by All Star Homes, Phoenix ranked No. 10 among major U.S. cities where residents boast substantial home equity. The term “house-rich” refers to homeowners who have a signific ..read more

Discover the Safest Cities in America: Phoenix-Area Gems Shine in Latest Wallethub Report In a recent report by financial analysis website Wallethub, several cities in the Phoenix area have emerged as some of the safest cities in America. This comprehensive analysis considered a multitude of factors, ranging from home and community safety to natural disaster risk and financial stability. Let’s delve into the findings and explore why these Phoenix-area cities are standing out in terms of safety. Methodology Matters Wallethub’s extensive study evaluated over 180 cities, using a robust set of 41 ..read more

Phoenix Real Estate Market- Why You Should Purchase a Home Now Wading through information regarding the current conditions of the real estate market can seem daunting. There is often information about the market that seem contradictory, which creates a lot of confusion. But ultimately, for the Phoenix Valley, experts are advising that you should purchase a home now, if you are able to. If you have been reading the Cusick Group blog for any length of time, you have heard us say that the markets are hyper-local. Often statistic used are National statistics, which are not helpful to the Phoenix m ..read more

Top 10 U.S. Cities to Live In SmartAsset gathered data from 275 smaller cities or towns throughout the U.S. to compile their top 10 list of best cities or towns in the U.S. to live in. The data consisted of nine criteria including the concentration of bars, restaurants and entertainment options, based on the U.S. Census Bureau’s 2020 County Business Patterns Survey. It also took into consideration things such as commute times, the local unemployment rate, access to healthcare, housing costs as a percent of income, and number of residents living below the poverty level. Which Arizona City Made ..read more

Phoenix: The Fastest Growing City Earlier this month, List Wire published data it received from the U.S. Census Bureau regarding the 15 fastest growing cities in the U.S. Phoenix topped the list as the #1 fastest growing city, and that only includes data for the city of Phoenix specifically, not the entire metro area. Metro Growth The City of Phoenix added almost 67,000 residents in 2021, and almost 73,000 in 2022. The population of Phoenix is now 1,660,272, according to the census. The population of the entire metro area is just shy of 5,000,000 which might seem laughable to somebody who reme ..read more

Understanding Client Needs Recently, I was contacted by a new home builder who had a client that was very interested in one of their Quick Move In(QMI) homes. However, they had to sell their house first…..which typically isn’t a problem except that the builder didn’t want to take a contract on a QMI home contingent upon the sale of an existing residence. Plus, the client previously lost a house prior to this one because their existing house did not sell. Both parties really wanted to make the sale happen, but both were apprehensive based on past experiences. I asked the builder for 24 hours to ..read more

The More Homes on the Market Act Although the wheels turn slowly on Capitol Hill, bipartisan legislation has been introduced that may be something we can all agree on: the “More Homes on the Market Act.”   Past Legislation Regarding Capital Gains In 1997, legislation pertaining to tax code was passed which allowed capital gains of a maximum of $250,000 for an individual, or $500,000 for a married coupleselling a primary residence to be a non-taxable event. Unfortunately, the legislation was flawed because it was not indexed for inflation.   Current Capital Gain Situation Fast forward ..read more

Phoenix Valley in Seller’s Market Favorable Market Conditions Currently, the Phoenix Valley is in a seller’s market. Available inventory is decreasing, while closings and pending sales are increasing. Additionally, the recent bank failures will tighten commercial lending guidelines, which will put a squeeze on the smaller, independent builders for the near term, and may be an opportunity for the publicly traded builders to increase market share. The current inventory of single family detached properties in MLS (which includes Maricopa and Northern Pinal Counties) is 9,751, a decrease ..read more

What is a 3-2-1 Interest Rate Buy Down? With interest rates rising and then bouncing around like a yoyo, sellers and lenders have pulled an old tool out of the tool kit to help with affordability, but it’s not for the feint of heart. So, how does a 3-2-1 interest rate buy down work, and is it a successful tool that can be used when purchasing your next home? The success of a 3-2-1 interest rate buy down hinges on the premise rates will decrease again, in the next three years. The 3-2-1 interest rate buy down is typically paid by the seller, as an incentive to encourage an interested buyer ..read more