The best week to list a home for sale is…well, right now. In honor of the Realtor.com report that proclaims the best time of the year to sell a property as mid to end of April, let’s explore if that holds up in Arizona in 2024 in the latest Market Update. Spring has historically been known in Arizona real estate as the “best” time to sell a home. For years, we have seen a repeatable and predictable pattern of the market throughout the seasons of the year. The set up for the busy spring market starts with the holiday season of the previous year. People are busy with events, family functions, ho ..read more

Massive changes announced on Friday will impact the way homes are bought in a big way. For home buyers, there are a few critical items that you need to know when starting your home buying journey under these new proposed rules. Changes have not gone into effect yet, but if buying a home is on your list of goals for the year, it may soon get a bit more expensive. The Back Story – Why the Change? The National Association of Realtors (NAR) are the defendants of lawsuits brought by a few disgruntled home sellers who did not like the fact that home sellers fees typically cover the sellers AND buyer ..read more

As we enter the customary busy spring season in Arizona real estate, the market is sending mixed signals. We are seeing buyer demand increase with slightly reduced interest rates and the expectation those rates will only get lower from here. However to offset that increased demand, we are seeing in increase in homes coming on the market as well. The resulting outcome is the market as a whole is trending sideways with a small edge towards being a sellers market, meaning prices will continue to appreciate, albeit at a moderate rate. Most cities are moving in favor of sellers and a few are moving ..read more

If you could only choose one, which of these homes would you prefer: Home #1) A home with a gorgeous chef’s kitchen and smart home technology, but a smaller plain dirt backyard, or Home #2) A home with a dated kitchen, but a resort style oversized backyard with pool?  There’s no right or wrong answer, but these are one of the many pros and cons to buying new construction vs a previously owned homes. Let’s look at some of the other considerations when buying a new construction home or an existing home. Perks to New Construction Better Floorplans –  Todays homes are built with tod ..read more

Rates…It’s all we seem to hear these days. The Phoenix real estate market has been affected by interest rates in some unexpected ways. New home builders are bulldozing their way through the slower market and leaving individual home sellers scratching their heads. What do home sellers need to do to gain an edge? Should buyers pull the trigger now? Where do interest rates go from here? By the Numbers Looking in the rear-view mirror, the average sale price for October in the Phoenix metro area was $579,000, which is up from $516,000 at the start of 2023 – good news for home owners, and bad news f ..read more

The real estate market is an ever-evolving landscape, influenced by various factors that impact both buyers and sellers. In this article, we will delve into the latest data to gain insights into the current state of the market. By examining key metrics such as closed transactions, median sales prices, and market share, we can better understand the emerging dynamics of how new home sales, re-sales and rentals are all intertwined and affecting decisions. Let’s dive into the numbers and explore the story behind them. Re-Sale Market The re-sales market has shown signs of recovery but continues to ..read more

Buyer demand is below normal, but home prices are moving up.  But wait…low demand should mean softening prices… right?  We are in a unique world, where many factors influence the world in ways we might not initially consider. Allow me to introduce to you the new wave of “accidental landlords”, which is one of the core reasons home prices are back on the move up. With the first quarter of 2023 behind us let’s take a pulse on the market and explore why this new trend has some seriously staying power. We all know the backstory by now – Record low interest rates during 2020-2021 caused a ..read more

Springtime is almost here and it might be time to start thinking about tackling some of those overdue home improvement projects. Not only will improvement projects make your house look better, but key updates will substantially increase the value of your home and provide you with a great ROI. But which projects are the most worthwhile to do and will provide the most added value? Kitchen and Baths If your house is a little on the dated side, think Kitchens and Bathrooms as your areas to focus on. These two areas are always going to provide the most substantial return on your investment.&nb ..read more

6 Weeks into 2023 and the Phoenix real estate market is beginning to simmer. A few of the first signs of a market improvement started showing in December – and January has shown even more signs of a market that is likely to start appreciating once again. Let’s look at the reasons for both home buyers and sellers to celebrate the most recent developments in the housing market. Buyers There is plenty of good news for home buyers right now!  For starters, home prices have come down from there previous highs last year. The average home price in the greater Phoenix area in June last year was ..read more

One headline says home prices are up 26%, and another says they are down 6%.  So, what’s REALLY going on here? Well actually, both are right to some extent. It’s not a surprise that the media has a way of spinning the facts. Sometimes it’s by accident with outdated data, and sometimes it’s reporting on headlines that are sure to get clicks and views. Let’s dive in to what is REALLY happening in the Phoenix area real estate market – by the numbers and facts! We all know that the market was HOT coming into this year. Just how hot it was is probably still not grasped by many. We have been so ..read more