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 Does It Take To Buy A House In Phoenix?

I don't know if you knew this, but it takes $4,000,000,000,000 to buy a cheap, dilapidated home in Phoenix. Do you have that in your bank account right now? I mean, everyone else does, why not you? JUST KIDDING. Seriously though, it does take some money to buy a home. (Key word here: "Buy") Here are three things you need to get your butt in gear: 1) Cash 2) Credit 3) Compensation Cash  What is cash? Well, it grows on trees, of course! But only in my fairytale books which I sold at a garage sale 20 years ago. (Sorry.) If you have a cash-money-honey tree then nobody cares who you are, what you look like, who or what … [Read more...]

We Need Listings! #NotABubble

Come on already! Why are you hording your own house? Put it on the market already! Don't get cast in that hypothetical TV show, "House Horders"! (Is this a show already? I'm not sure. I would probably watch it.) Weather-wise, it's becoming an early spring, and it's the perfect time to begin selling your home! Yet as you can see by my trusty chart in my video, house inventory is as flat as a pancake. Everyone in the Milky Way is moving to Phoenix, and why wouldn't they move here? We have sunshine and happiness all year round. There's no digging yourself out of snow, mud, or other kind of natural disaster. (I can't guarantee you won't … [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...]

What’s Sold Recently in Monterey Point – Chandler, AZ 85225

Monterey Point is located in Chandler, Arizona, on the SW corner of McQueen and Frye Roads just North of Loop 202. Great location in this popular Phoenix suburb, Monterey Point is just minutes from Historic Downtown Chandler, and convenient to local schools, city parks, and hundreds of restaurants and shops.  Easy access to three major freeways and employers such Intel, Orbital, Wells Fargo, GE, and Paypal. … [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...]

Population Pause…We Need More Babies!

One of the biggest drivers in housing demand is population growth. Simple math here. If you have more people, you need more houses. There are essentially 2 ways people come to Phoenix - they move here or they are born here. And folks, the number of people born here is on the decline. My friends at Cromford Report, pointed out the shift in the population make-up we are seeing in this country. Nationwide, folks are living longer and having few babies, so the population is essentially aging, skewing towards an older demographic. This will result in a slowing population growth. We have seen this trend in the United States before, so it will be … [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...]

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...]

Who’s Calling the Shots in Phoenix Real Estate? Buyers or Sellers?

Word on the street is that it's a buyer's market in Phoenix right now. Ummmm...not exactly. The answer to the question of whether buyers or sellers have the edge in the Phoenix real estate market, like a lot of questions about Phoenix real estate, it depends. Let's take a look at how the price of the house is related to  who holds the cards. In a nutshell, sellers hold the cards in the lower price ranges and buyers take the advantage in the luxury market. Here's a breakdown by price range: Note that homes listed for $175,000 or less are in extremely low supply. Finding a good home in this price range is tantamount to a unicorn hunt. … [Read more...]