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June 2017 RE/MAX National Housing Report

by The Russo Team

June 2017 RE/MAX National Housing Report

After a brief dip in April home sales, the U.S. housing market returned to seasonally high sales in May, increasing 20.6% from the previous month and 4.3 percent from May 2016, according to the RE/MAX National Housing Report. In fact, it was the strongest May in terms of home sales in the nine-year history of the report. In addition, the average number of Days on Market dropped to a record low of fifty-one, consistent with the Months Supply of Inventory shrinking to 2.6 months – both records for the report.

Other notable numbers:

  • Over two-thirds of the metro areas experienced an increase in transactions.
  • The May 2017 Median Sales Price of $232,500 was the second highest in the history of the report, only behind the August 2008 Media Sales Price of $236,062.
  • Decreasing 16.2 percent from May 2016, inventory continued to decline year-over-year. This is the 103rd consecutive month of year-over-year declines dating back to October 2008.
  • The U.S. continues to enjoy rising home values as fifty-two of the fifty-three metro areas experienced a price increase.

“In May, we saw an uptick of both loan applications and home sales, which is encouraging in terms of more people getting into the market for homes,” said Adam Contos, RE/MAX Co-CEO. “We don’t expect that the Federal Reserve’s announcement on Wednesday to raise interest rates a quarter of a point will greatly affect the market’s momentum. But housing demand only intensifies the tug-of-war with tight inventories driving prices up.”

Download a copy of the June 2017 RE/MAX National Housing Report here.

Looking to sell your Phoenix home or buy a home in Phoenix? Contact the RussoTeam today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

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30 Things and Musings About Frank

by The Russo Team

30 Things and Musings About Frank

I have talked about this in the past, and I believe that one of the most important things we can do, prior to having any relationship, is to really get to know the people around. What does that mean? It means showing your vulnerability and that you are human. So here we go; my mask is off.

1) I don't like being alone for very long.

2) I am the worst person in the world to handle paperwork but, man, can I negotiate a real estate contract.

3) The tax code is way too complicated.

4) I always have trouble figuring out which stove burner to turn on when they have the little dots on the dial.

5) Buffet lines are way too slow. You already know whether or not you want beets on your salad. Why keep looking at them and playing with them. Move on.

6) I dress up for weddings and funerals; other than that, I always am casual.

7) I am extremely cynical about politics. I don't think many politicians have any of our best interest at heart, regardless of their party.

8) The older I get, the kinder I get.

9) My wife, Lori, is an amazing kind and caring woman. She takes such great care of me.

10) I have had an unusual obsession with music since I was about 14. I have tried to play instruments in the past but my mind doesn't work that way. I went to BB King's funeral, but I broke my code and dressed casual.

11) Other than sports, I don't watch any TV live. Everything is recorded or streamed so I can buzz thru the commercials. Lori like to watch Sister Wives, but I don't get it.

12) When I go to a concert and the lights go down and all you can see are the LED lights on equipment, I always get goosebumps.

13) I have had a crush on Marie Osmond for 40 years. I don't like the music though.

14) I have had a wind up watch with no band in my travel shave kit for 40 years. I don't throw it away. Why?

15) I have concert t-shirts that are more than 20 years old.

16) I saw Janis Joplin when I was 14 years old. I turned down going to see The Doors the same summer. I still regret that decision.

17) When I was young, I sent a note through the drive thru teller at a bank to ask a girl out. She said yes.

18) I never did like putting up the outside Christmas lights...so I don't anymore.

19) I was at game 7 of the World Series in 2001 with the Yankees vs. Diamondbacks with my daughter, Lianne.

20) I think my daughter Lianne might be one of the smartest people on the planet. Go figure, I can't read the stove.

21) I am one of those freaks that like the Phoenix summer. Living in Buffalo probably did that.

22) I am a huge fan of nature. The sky fascinates me. Stars, sunrises and sunsets...they're all magic. The best way to see the stars is in my hot tub in my backyard.

23) George Harrison was the most under-rated Beatle.

24) My Mom just turned 86 and is going strong. She loves her iPad, Facebook, and hanging with the girls.

25) I watch the Allistair Sims version of  A Christmas Carol every year on Christmas Eve without fail.

26) The best movie ever is Blade Runner, starring Harrison Ford. It's a love story.

27) I still listen to records.

28) Shannon Wellman and I have worked together for 21 years. She is the nicest person I know. 29) I am unusually good with numbers but can't spell to save my life.

30) The two best things to come out of the 80's were Guns N Roses and my daughter, Lianne.

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

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The Russo Team June 2017 Newsletter

by The Russo Team

Please enjoy the Russo Team Newsletter for June 2017.


http://www.russoteam.com/agent_files/170530_RussoNewsletter_June17_4UP_Final.pdf

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

3 Places to Enjoy in Downtown Phoenix this Summer

by The Russo Team

3 Places to Enjoy in Downtown Phoenix this Summer

Love the downtown Phoenix area? How about cultural museums, fantastic cuisine, and sporting events? Whether you’re a long time resident of the Signs of Downtown Phoenix historical district, a Phoenix native, a recent transplant or just passing through, here are 3 places to enjoy in downtown Phoenix this summer.  

1.) Arizona Science Center

The Arizona Science Center provides exploration, education and entertainment for all ages. Nestled in the picturesque setting of Heritage and Science Park, the Science Center is a unique landmark designed by renowned architect Antoine Predock. The combination of ramps, hallways, galleries and terraces in this 140,000-square-foot building creates an intriguing environment of investigation and discovery. The exhibits and galleries are designed to educate and entertain kids of all ages – from pre-K to gray! Visit https://azscience.org for more details and summer rates.

2.) The Phoenix Art Museum

Don’t know art but you know what you like? As one of the largest art museums in the Southwest, the Phoenix Art museum is guaranteed to have something to pique your interest. You could spend hours perusing the modern art collection on the second floor, the latest couture exhibition, the sculpture garden, or the museum's current contemporary show. If you’re feeling ravenous, you can even grab lunch or drinks at the museum’s restaurant.  Visit http://www.phxart.org for more details and summer rates.

3.) The Phoenix Zoo

Whether you want to bring your kids or bring out the kid in you, the Phoenix Zoo is a must see! The zoo houses a variety of animals, including baboons, Sumatran tigers, Asian elephants, Galápagos tortoises and Komodo dragons. Take younger tots to the Big Red Barn petting zoo or to the giraffe encounter where they can get enjoy more interaction with the animals. If you get tired of trekking the well-kept zoo grounds, you can enjoy a 30-minute narrated safari train tour which provides a good orientation of the zoo. Visit http://phoenixzoo.org/ before heading over to check out upcoming events and summer pricing.

For more information about things to do in downtown Phoenix or if you’d like information about buying a home in the Signs of Downtown Phoenix area, please contact the Russo Team today!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

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34th Annual Memorial Day Observance

by The Russo Team

34th Annual Memorial Day Observance

The Pioneers’ Cemetery Association and the City of Phoenix Parks and Recreation invite the public to celebrate American military history this Memorial Day at the 34th Annual Memorial Day Observance. Join in the family-friendly festivities on Monday, May 29, 2017, 9:00 a.m., at the historic Pioneer and Military Memorial Park at 14th Avenue and Jefferson in downtown Phoenix.

Well- known radio personality, Marty Manning, will be the MC, and renowned historian Len Marcisz will be the keynote speaker. Representatives from a wide range of historic groups will attend in full regalia. After the ceremonies, tours of the 1897 Smurthwaite House at 1317 W. Jefferson in Phoenix will be offered. This is a free event for you and your family! However, vendors will be present. Free public parking for visitors will be located at Wesley Bolin Plaza and donations are gratefully accepted.

For more details about the 34th Annual Memorial Day Observance please call 602-534-1262 or visit azhistcemeteries.org. Happy Memorial Day from the Russo Team!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

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May 2017 RE/MAX National Housing Report

by The Russo Team

May 2017 RE/MAX National Housing Report

The brisk start to the 2017 home-selling season slowed down in April with home sales dropping 4.1 percent below March and 4.5 percent below the previous April, according to this month’s RE/MAX National Housing Report. More than three quarters of the report’s fifty-three metro areas saw April home sales decline year-over-year. By contrast, March posted a 6.6 percent year-over-year spike in sales. Even so, April saw homes sell for more than they did in March in 81 percent of the markets, while 92 percent of the markets saw higher year-over-year sale prices.

Yet the narrative of the ever-tightening inventory coupled with increased prices persisted, as the fifty-three metro area report saw the trends of a seller’s market continuing:

  • The average number of Days on Market declined for the third consecutive month and April’s fifty-seven days set a new low for April in the report’s nine-year history.
  • The Median Sales Price of $226,000 was the highest price for any April and marked the 13th consecutive month of year-over-year price increases.
  • Months Supply of Inventory, which dropped below three months in March for the first time in the report’s history, was 2.8. A months supply of less than 6.0 is considered a seller’s market.
  • Inventory was down 17.6 percent from April 2016.

“We may be seeing some frustration from buyers,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Inventory is tighter than ever, while strong demand keeps driving up home prices. At the same time, many potential sellers may also be reluctant to list their homes because the tight inventory might impact them as buyers. Home buyers and sellers will need to work with experienced real estate agents to navigate this tough market.”

Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

The American History of Mother’s Day

by The Russo Team

The American History of Mother’s Day

Celebrations of mothers and motherhood can be traced back to the ancient Greeks and Romans, who held festivals in honor of the mother goddesses Rhea and Cybele, but the clearest modern precedent for Mother’s Day is the early Christian festival known as “Mothering Sunday.”

The origins of Mother’s Day as celebrated in the United States date back to the 19th century. In the years before the Civil War, Ann Reeves Jarvis of West Virginia helped start “Mothers’ Day Work Clubs” to teach local women how to properly care for their children. These clubs later became a unifying force in a region of the country still divided over the Civil War. In 1868 Jarvis organized “Mothers’ Friendship Day,” at which mothers gathered with former Union and Confederate soldiers to promote reconciliation. Following her mother’s 1905 death, Anna Jarvis conceived of Mother’s Day as a way of honoring the sacrifices mothers made for their children.

After gaining financial backing from a Philadelphia department store owner named John Wanamaker, in May 1908 she organized the first official Mother’s Day celebration at a Methodist church in Grafton, West Virginia. That same day also saw thousands of people attend a Mother’s Day event at one of Wanamaker’s retail stores in Philadelphia.

Following the success of her first Mother’s Day, Jarvis—who remained unmarried and childless her whole life—resolved to see her holiday added to the national calendar. Arguing that American holidays were biased toward male achievements, she started a massive letter writing campaign to newspapers and prominent politicians urging the adoption of a special day honoring motherhood.

By 1912 many states, towns and churches had adopted Mother’s Day as an annual holiday, and Jarvis had established the Mother’s Day International Association to help promote her cause. Her persistence paid off in 1914 when President Woodrow Wilson signed a measure officially establishing the second Sunday in May as Mother’s Day.

And now you know the American history of Mother’s Day. Happy Mother’s Day from the Russo Team!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

The Russo Team May 2017 Newsletter

by The Russo Team

Please enjoy The Russo Team Newsletter for May 2017!


See more:  http://www.russoteam.com/agent_files/170427_RussoNewsletter_May17_4UP_FINAL.pdf

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

Proudly Celebrating 25 Years of Miracles

by The Russo Team

Proudly Celebrating 25 Years of Miracles

Every minute, 62 children enter a Children’s Miracle Network Hospital for treatment; every 30 seconds, a RE/MAX agent helps someone find their perfect place. Since 1992, RE/MAX agents and brokers have invested in the well-being of their local communities by raising more than $150 million for 170 Children’s Miracle Network Hospitals.

In 2016, RE/MAX Affiliates in the U.S. and Canada donated over $10 million to 170 Children’s Miracle Network Hospitals through the Miracle Home and Miracle Property programs. Here at RE/MAX Professionals, our agents donated over $40,000 to our local Phoenix Children’s Hospital last year.

For every home that is sold, a part of our commission is donated to PCH in your honor. We have you to thank for this prestigious recognition, because without your continued trust in us as your preferred real estate company, we would not be able to make this kind of impact for the children in our community.

Here is to celebrating another 25 years of miracles. The Russo Team thanks you for making that possible.

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

April 2017 RE/MAX National Housing Report

by The Russo Team

April 2017 RE/MAX National Housing Report

March launched the home-buying season with post-recession records for increasing home sales and prices and decreasing inventory, according to this month’s RE/MAX National Housing Report that surveys fifty-three metro areas. Last month, home sales were 6.6 percent higher than the nine-year-old report’s previous March record, set in 2016. Thirty-eight of the fifty-three metro areas in the report showed year-over-year increases.

Meanwhile, Months Supply of Inventory dropped below three months for the first time in the history of the report, indicating a market that greatly favors sellers, as six months is considered a balanced market. Active inventory continued to decline, dropping 17 percent year-over-year. As a result, the Median Sales Price of $225,000—also a March record—was up eleven percent year-over-year. This was the twelth consecutive month of year-over-year price increases.

“We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.”

Looking to sell your Phoenix home or buy a home in Phoenix? Contact the RussoTeam today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

Displaying blog entries 1-10 of 379

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