Ahwatukee Foothills News - 9.15.2021

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REAL ESTATE

SEPTEMBER 15, 2021 | AHWATUKEE FOOTHILLS NEWS

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Homie helps buyers make cash offers AFN NEWS STAFF

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he brokerage Homie has now launched a service to help homebuyers pay cash for a house so they don’t lose out in a competitive bidding situation. Its subsidiary Homie Loans now offers “Homie Cash,” which it says “allows buyers to make all-cash offers to drastically increase their chances of winning” the house they want. “Cash offers are three times more like-

HENDERSON from page RE2

until buyers are forced to the sidelines because they can no longer afford the escalating prices. So is there any end in sight? In my opinion, as long as real estate interest rates remain relatively low, and demand remains high, the number of units sold and the

ly to win in a competitive bidding war, making it one of the most effective strategies to improve a buyer’s likelihood of their offer being accepted,” the company said in a release. “I’ve watched too many Arizonans, from first time home buyers to empty nesters, lose out on the home they really want because of investors or cash buyers. We saw the need, so we started Homie Cash to give buyers a leg up on the competition,” said Johnny Hanna, Homie co-founder and CEO.

average price of a property will continue to increase in the Ahwatukee and Metro Phoenix markets. However, many forces are in play that could slow the market. When this market does slow down, it will be a result of prices surpassing the ability of buyers to afford to make the payments. A rise in interest rates, out-of-control inflation, and

Homie cited ARMLS data in reporting that cash buyers currently account for 20.96 percent of homes purchased in Maricopa County and that cash transactions account for 23 percent of home sales as opposed to 15 percent a year ago. “Homie Cash levels the playing field by allowing buyers that don’t have hundreds of thousands of dollars in their bank accounts to become cash buyers and compete,” said Hanna. “We’re putting power back into the hands of buyers who have been disadvantaged in this

intensely competitive market.” Participating in Homie Cash requires buyers to complete a short application to qualify for the program. Once the application is submitted, Homie Loans will pre-approve buyers to ensure they are eligible for a conforming mortgage before sending an offer on a property. Once approved they work with a Homie Realtor to make all-cash offers with Homie Loans funds. Information: 480-999-2360 or homie. com/cash. ■

continuing increases in prices will be the most likely culprits in slowing or stopping the local, regional, and national real estate markets. The rate of inflation should be the highest concern to home buyers and sellers. If the increasing rate of inflation is allowed to continue to rise unabated, it will push the cost of all consumer items, including

properties, higher. Despite our current strong real estate market, inflation should be on the watchlist for all buyers, sellers and those contemplating getting into or out of the real estate market. For a consultation, Ahwatukee Realtor Allen Henderson can be reached at 480-392-2090. ■

GOT NEWS? Contact Paul Maryniak at 480-898-5647 or pmaryniak@imespublications.com

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