Let's take a look at the current inventory of homes for sale in Phoenix...What's hot and what's not? There are currently more than 17,600 homes for sale in Maricopa County. When you look at the mix of price ranges on a map, you can see a heat map forming representing affordability across the Valley. For homes in price of $200K or less, your best bet is the West side. If you want to live in the East Valley - Mesa, Tempe, Gilbert or Chandler, you are going to need to spend a few more bucks - most homes are $200K and above. If you want to drop some serious dollars on your new house, northeast Phoenix and Scottsdale are the places to … [Read more...]
Rent or Buy Your Home…Which is Better?
December 14, 2015 By
Rent or buy? Gosh, isn't that the $64 Million Dollar question? And as many things go in real estate, the answer depends on your circumstances. Let's start with the current state of rentals here in Phoenix. In the ARMLS rental database the overall average lease rate for active listings is $1,820 per month and the average sq. ft. is 1,932. For apartments, the average rent is $1,568 with an average sq. ft. of 1,102 giving us an average rent of $1.42 per sq. ft. A year ago the rate was $1.22 per sq. ft., so the rise in asking price is 16.6% in just 12 months. The number of active apartment rental listings has declined 10% from 643 to … [Read more...]
Affordable Homes in Phoenix — $200K or Less, Going Fast
November 20, 2015 By
A cold hard look at the inventory of affordable homes in Metro Phoenix, priced in the sub-$200K range - the sweet spot for first time and re-entry buyers, is sobering. Folks, there is no sugar coating this factoid. These homes are going fast. There are only about 3300 single family homes in Metro Phoenix - 2,300 in Maricopa County and 1,000 in Pinal County that fall into this price range. That includes homes in the outskirt towns like Wickenburg and Gila Bend, small home, old homes and homes that won't qualify for FHA financing. That might seem like a lot, but in the last year, about 34,000 homes were sold in this price range. Here are … [Read more...]
Living the Main Street Life…Homes for Sale in Downtown Mesa, Arizona
November 18, 2015 By
Downtown Mesa! It's coming alive folks. Back in the day, Main Street in Mesa was The Place, and like many downtown areas in the suburbs of Phoenix, it is enjoying a renaissance. With the opening of the light rail extension from Sycamore to Mesa Drive, Main Street has a new energy, an artsy vibe. The historic buildings are casting aside the past and inviting new businesses to wake up this blast-of-the-past town center. With a focus on art and music, Downtown Mesa welcomes an artist-centric culture to the East Valley. This is Main Street USA, where people wave to you as you stroll down the street. Stop in at Jarrod's Coffee, … [Read more...]
Rising Mortgage Rates And The Rumors They Inspire
November 16, 2015 By
Last month, over 271,000 jobs were added in the U.S. - the highest amount so far this year. The unemployment rate dipped to 5 percent, and wages rose at the fastest pace since 2009. In a report released last week by the Feds, all signs point to a healthy U.S. job market, almost fully healed from the deep wounds of the Great Recession. This is really great news! But, because there is always a "but", the healthier economy is raising expectations that the Federal Reserve will begin withdrawing its support for the recovery by the end of the year. In a nutshell, interest rates are very likely to rise over the next year. Not in a … [Read more...]
Country Club Living at an Affordable Price – 1402 N Pebble Beach Dr – Val Vista Lakes, Gilbert AZ 85234
November 10, 2015 By
How would you like to live in a country club community? Who wouldn't right? But maybe you can't afford the country club price tag. Well check out this home in Val Vista Lakes, one of the most popular lakefront communities in Gilbert, AZ. The clubhouse is AMAZING! A beach-front lagoon pool overlooks a lake that meanders through the community. It's flanked by a Jr Olympic-sized pool, hot tub and gazebo. Enter the clubhouse to find racquetball courts, cardio and weight-training facilities and recently updated locker rooms, as well as a staff that keeps the action going through-out the year. Tennis? Oh yes - there's even an … [Read more...]
Country Club Living at an Affordable Price – Val Vista Lakes – 1402 N Pebble Beach, Gilbert, AZ 85234
November 10, 2015 By
How would you like to live in a country club community? Who wouldn't right? But maybe you can't afford the country club price tag. Well check out this home in Val Vista Lakes, one of the most popular lakefront communities in Gilbert, AZ. The clubhouse is AMAZING! A beach-front lagoon pool overlooks a lake that meanders through the community. It's flanked by a Jr Olympic-sized pool, hot tub and gazebo. Enter the clubhouse to find racquetball courts, cardio and weight-training facilities and recently updated locker rooms, as well as a staff that keeps the action going through-out the year. Tennis? Oh yes - there's even an … [Read more...]
How To Buy A House (In A Nutshell)
November 4, 2015 By
How to Buy A House...in a Nutshell! A simple Step-By-Step process for buying a house...it's not so hard...OK it's really harder than it looks but that's why they invented real estate agents! But seriously, there are 5 basic stages to buying a home here in Arizona: Get yourself a purchase contract Open escrow Do your due diligence Order up an appraisal (your lender to do this!) Closing time (where you write a BIG check!) Check out the video for details. And as always, if you have questions, you know where to find me! Kristin LaVanway 480-282-7464 kristin@hereinphoenix.com … [Read more...]
Can You Really Sell Your House in November (or December!)
November 4, 2015 By
Real estate sales typically slow down towards the end of the year here in Phoenix. Buyers are distracted with holidays and take longer to make a decision. Inventory increases, so there are more choices. Advantages the sellers had during the busy season tend to wane as the weather cools off. But what if you NEED to sell your house now? This may not be the most ideal time to sell your house, but it is doable. About 5,000 homes will go under contract this November compared to over 8,000 that went under contract in June, one of the busiest months. Sure the number is lower, but that's still 5,000 houses! And yours could be one of … [Read more...]
Should You Wait for a Better Offer (If the one you got is a piece of $#%@)
November 1, 2015 By
What should you do if you get an offer that frankly is a piece of S*&;%T? Here are some spicy tips on how to make the best of a *#%$% situation... First, you have to be realistic. And that is secret code for price your house right. Second, understand your negotiating position. Is is a Seller's market, or do the Buyer's hold the advantage? Right now, Sellers are not exactly in the driver's seat. You have to play nice with buyers if you want to make a deal. So...play nice! Third, try to make the offer work, even it at first glance that seems as likely as snow in Phoenix. Because, guess what? Sometimes it snows in Phoenix! … [Read more...]
