the russo team sept newsletter
DESCRIPTION
The Russo Team September NewsletterTRANSCRIPT
THE
TEAM
RUSSO
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602 864 1200 • 800 216 0509 • www.russoteam.com
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Less than one year ago we had inventory issues. We had too many homes on the market. It was di!cult to #nd buyers at any price. Fast forward to today. Real estate prices in the valley are up about 30 percent. Some percentages are even higher in the lower price ranges. Many of our clients are not aware that they may NOT be in a negative equity situation anymore. If you are unsure, please contact us to get the necessary data to make intelligent decisions.
As for the why part of these price increases, prices were so low that the natural &ow of investor money started to pour in from all over the world. As more and more money came into the market, the supply shrank and the prices increased as that demand increased. I think I learned something about that supply and demand stu' in high school, and apparently it actually works that way. On the surface this might be discouraging as a buyer; however I would like to share some numbers with you. Today, a typical home for $150,000 would break down #nancially like this with an assumption of an FHA loan and 3.5% down:
• $705 Principle and Interest Payment (Interest rate 3.875%)
• $125 Property Taxes • $75 Insurance • $40 Homeowner Association (if one is involved) • $945 Approximate Monthly Investment
Now for a reality check. 4irty years ago this same home would have been priced about half or say $75,000. With interest rates soaring around 17.5% the monthly investment would have been approximately $1215 that’s right, about $270 higher than today, thirty years later!
4ere aren’t many more ways to say, it is apparent that this is a spectacular time to buy real estate. An old friend told me many years ago, “Don’t wait to buy real estate, buy real estate and wait.” If you or someone you know has been sitting on the fence about buying a home, please give me a call today. I would love the opportunity to help you get o' the fence and into a home today.
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We love to hear
from you! Please
share with us any
special news,
additions to the
family, weddings,
etc. We want to
celebrate your
good news too!
THE
TEAM
RUSSO
Fabulous Homes For Sale By THE RUSSO TEAM!"#$%#&'$""&(&&)*+'#%&$,-&$.$+"$/+"+01&'2$,3#&45+'6"1&$,-&7$1&,80&/#&02#&%$7#9
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