Every day in the U.S., roughly  10,000  people turn 65 states Mike Eastwood Author- Chief Executive Officer of West USA Realty Of Prescott. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed. Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make:  should I move before I retire?  If the sand and sun are calling your name and you have the opportunity to  work remotely  for the foreseeable future, now may be a great time to purchase that beach bungalow you’ve always dreamed of or the  single-story  home in the sprawling countryside that might be a little further out of town. Whether it’s a second home or a future retirement home, ...

  One of the best ways to build your family’s financial future is through homeownership states Mike Eastwood - Aurhor - Chief Executive Officer of West USA Realty of Prescott. Recent data from the   Federal Reserve   indicates the   net worth of a homeowner is actually over 40 times greater than that of a renter . Maybe it’s time to start thinking about buying a home, especially when they’re so   affordable   in today’s market. Every three years the  Survey of Consumer Finances  shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready. Owning a home is a great way to build family wealth. For many fam...

   In today’s real estate market states Mike Eastwood Author-Chief Executive Officer of West USA Realty of Prescott, setting the right price for your house is one of the most valuable things you can do. According to the  U.S. Economic Outlook  by the  National Association of Realtors  (NAR), existing home prices nationwide are forecasted to  increase 4.7% in 2020  and  4.1% in 2021 . This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale,  Chief Economist  at  realtor.com ,  notes : “Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.” When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer...

  A year ago, additional space and extra amenities had a very different feel for homebuyers States Mike Eastwood  - Author - Chief Executive Officer of West USA Realty of Prescott. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market. The  Institute for Luxury Home Marketing  (ILHM)  explains : “With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback. For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.” This was not the case at t...

  If you’re thinking about moving, selling your house this fall might be the way to go states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Here are four highlights in the Prescott housing market that may make your decision to sell this fall an easy one. 1. Buyers Are Actively in the Market ShowingTime , a leading real estate showing software and market stat service provider, just  reported  that buyer traffic jumped 60.7% compared to this time last year. That’s a huge increase. It’s clear that buyers are ready, willing, and able to purchase – and they’re in the market right now. In many regions of the country, multiple buyers are entering bidding wars to compete for the home they want. Take advantage of the buyer activity currently in the market so you can sell your house in the most favorable terms. 2. There Are Not Enough Homes for Sale In the latest  Existing Home Sales Report , the  National Association of Realtors  (NAR) announ...

  Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Some forecasts called for a 15-20% decline in transactions. However, six months later, it seems as though the housing market has fully recovered. Mark Fleming,  Chief Economist  at  First American ,  announced  last week: “Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market.  Housing has experienced a strong V-shaped recovery  and is now exceeding pre-pandemic levels.” The  Economic & Strategic Research Group  at  Fannie Mae  upgraded its  forecast  for home sales last week: “Housing data over the past month continued to show a  strong V-shape rebound , help...

  Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows states Mike Eastwood Chief Executive officer of West USA Realty of Prescott. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market. According to the just-released Q2  Homeowner Equity Insights Report  by  CoreLogic : “U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019,  an increase of 6.6%, year over year .”   Dr. Frank Nothaft,  Chief Economist  for  CoreLogic,  attributes much of the equity growth to rising home prices: “The CoreLogic Home Price Index registered a 4.3% annual rise...