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...]

What Homes Went On Sale In Mesa TODAY?

What's NEW in Mesa real estate TODAY? These homes just hit the market...be the first to see what homes are for sale in Mesa right now! Check out the list of the newest listings to hit the Mesa real estate market. From quaint fixer-uppers to mega-mansions, Mesa has them all! Do you want to stay on top of all the new listings in Mesa? You can create your own account (use the button below) so you can  save your favorites and get regular updates. Looking for something different? Tweak this search or request your very own custom search <---- right here   … [Read more...]

Buying a House and Selling a House — At the Same Time?

How the heck do you buy AND sell a house AT THE SAME TIME? Argh! It's REALLY stressful! ...Or is it? Here are some important tips on how to make buying and selling a house at the same time go a whole heck of a lot smoother. You might even feel much more prepared! Wow! First and foremost: Start packing I mean, do you even know how long it takes to pack up your life? I know someone moving from a tiny duplex, and it's still going to take her almost a month to pack, have a garage sale, sell stuff on eBay, give it away, whatever it is she needs to do to get herself packed and moved out of there. Additionally, buying and … [Read more...]

Big Box Banks vs. Local Mortgage Banker

Does it really matter who you choose to do your mortgage? Can't you just go down to any ho-hum bank and get a home loan? Or call that spammy 1-800 number (that is most likely a sex hotline) you got from a quick Google search? Yes, it matters! And it’s a big FLIPPIN’ deal! You might be thinking, “Big Box is the way to go because I like everything BIG, GINORMOUS, and boxy—Texas-style!” (Remember that hit song, I'm Boxy and I Know It? LMAO!) But visit any realtor-infused happy hour and you will understand why realtors start breaking out in a cold sweat when they see a pre-qualification from 1-800-Big Box Walmart Wannabe Bank. When you … [Read more...]

What’s the Easiest Way to Invest in Real Estate?

A friend of mine recently asked my opinion about a REIT - Real Estate Investment Trust. You know, those sexy crowd-sourcing ventures where you pool you money with other mogul wannabes and buy retail shops, apartment buildings and office complexes and just watch the cash flow into you pockets. Sort of. Actually, the fund managers do all the work,collecting rents from the tenants and paying the investors dividends when they make a profit. Of course, you know what happens if there is not profit, right? Let's say you have $1000 laying around and you wanted to invest in real estate? Is the REIT the best way to go? Maybe. But before you join the … [Read more...]

Are We Headed For Another Real Estate Bubble?

Sorry to interrupt your regularly scheduled PBS program in the drab, grey fields of irrational paranoia, fear and anarchy, but I have an important message for you: IT'S ALL IN YOUR HEAD. WE ARE NOT IN A HOUSING CRISIS. We are not about to be in one either! I know what you're thinking, "Oh, but Kristin, you're a REAL ESTATE agent. Of course you would tell us we're not in a housing crisis... You just want my $%#^@ MONEY!" No. I want you to be happy. And happiness comes from being educated by the facts. With knowledge comes power and confidence - not this fear bullcrap. Let's get rid of this fear thing. It never does anyone any good … [Read more...]

No RENTS for the Weary

Are you having trouble finding a rental property in Phoenix right now? Well, you are not alone. Our rental inventory is a fraction of what it was a few years ago. Just to out things in perspective, in 2008,there were roughly 10,000 properties listed for rent in Metro Phoenix. Right now, there are less than 2200 homes or rent, listed on the MLS. And I mean in all of Metro Phoenix, meaning Phoenix and its suburbs.   That figure does not include vacation homes, but good luck there where rents are significantly higher than market rents, due to the furnished and short term nature of these leases. And keep in mind that there were a lot less people … [Read more...]

The Big Pre-Qualification Question

For some, calling a lender to get pre-qualified for a mortgage is an anxiety-riddled, hand-wringing, whiskey-swigging dilemma. Should I or shouldn't I? It's a big deal...or is it? The fact is, it is pretty much pointless to go house-shopping without checking in with a lender first. It's like going shopping without your wallet, only worse. If you forget your wallet, you can ask the cashier to hold onto the awesome bargain you found while you run back home and retrieve the forgotten financials. But if you don't talk to a lender first, you might be shopping at Nordstom's when you really should be shopping at Target (or vice versa). And either … [Read more...]

First Quarter 2016 – Review of the Phoenix Real Estate Market

It's about that time when I like to tantalize all of you with some market statistics! How is the Phoenix real estate market so far in 2016? Well let's take a look... Supply is gradually increasing as it usually does this time of year, but demand has been a little sluggish in the price ranges below about $250-300K in most areas, and a lot sluggish in the upper price ranges. Sellers still call the shots below $250K in most geographic areas, but buyers and in hog heaven in those upper ranges. Hope you bought your lottery tickets because this is the year to buy that mansion. Interest rates have decreased slightly since the Fed lowered the … [Read more...]

Yikes! Where are All the Affordable Houses?

Home prices are going up in Phoenix. Great news if you are a seller...not so great if you are a buyer. Particularly a buyer who does not currently own a home. The bar for entry level homes is going up - homes are becoming less affordable. You are jumping onto a moving merry-go-round, my friend. Check out this visual from my good friends are the Cromford Report: Yup...the inventory below $150K is quickly becoming non-existent, and the inventory of affordable homes between $150K-200K is starting to fade away as well. Anything below $250K is going to be gobbled up quickly by strong buyer demand - and guess what? We are on the brink of … [Read more...]