Phoenix Real Estate Market Update – It’s a Buyer Frenzy!

The Phoenix real estate market is in a buyer frenzy early in the season due to low inventory in the most active price ranges. For Buyers: Buyers continue to find themselves in a frenzy of competition for homes as March recorded the highest number of non-distressed sales through the MLS since September 2005.  Supply has dropped a significant 12.7% overall compared to this time last year. That's a whopping 22% drop  in the Southeast Valley and 27% in Pinal County! Despite the extreme lack of supply under $300K, 30% of closings in this price range are showing some form of seller-paid concession at close.  Compare this to 27% in March of … [Read more...]

About that Zestimate, Spencer….

http://www.youtube.com/watch?v=d9EoBa_ez3Q Spencer Rascoff, the CEO of Zillow, sold his house in Seattle in February for a cool $1,050,000. You might be wondering why I am telling you about this. Who cares if Spencer sold his house..whatever. Well, what makes this story interesting is that Rascoff's website, Zillow, zestimated that the house is actually worth $1,608,670, off by a measly 53% of the actual market value. Ooops! And while it's super fun for real estate agents to bash the "evil" Zillow monster, the realty is that computer-generated valuations are far from the best way to determine what your house is worth. … [Read more...]

Living the Main Street Life…Homes for Sale in Downtown Mesa, Arizona

  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...]