Posts filed under Real Estate News

Our Last Hurrah before the Summer Slow Down? - Phoenix AZ Housing Update

It's typical here in Phoenix to see a bit of a slow down just before the dog days kick in.  July and August tend to be less active than the 2nd quarter months.  May saw the highest number of sales so far for 2018 pushing us back under 2 months inventory, Valley-wide.  

The entry level market is still a beast.  Anything under $200k is flying off the shelf as quickly as it's put on the shelf.  In fact, we are seeing low days on market all the way to even $500k as long as it's appropriately priced.  Historic districts are still seeing some heavy activity too since everyone is gaga over homes with character these days. 

 Info courtesy of ARMLS.

Info courtesy of ARMLS.

Posted on June 11, 2018 and filed under Real Estate News.

Inventory Levels are up just a Tad in Phoenix, AZ - Phoenix AZ Housing Update

The inventory levels are rising but not as quickly as the temperatures are as we approach summer.  March 2018 inventory levels were the lowest we've seen in while and new build contracts have skyrocketed due to the low inventory of resale homes.  

Selling a home?  Better get the sign in the yard soon.  As we approach the summer months things tend to slow down a little.  Get your home on the market now so you can vacation in July like everyone else!   Call 480-250-0023 and ask for Katie! 

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It's a Sellers Market in Phoenix AZ - March 2018 Real Estate News

It's official.  It's a sellers market.  We have 2.13 months of inventory on the market in the Phoenix area right now.  If you are a seller, you are in control.  If you are calling up investors or those "close when you want" real estate companies (AKA investors), you are costing yourself more than you think.  Contact Katie, at 480-250-0023, to talk about the details of your home and get an accurate value assessment

 

 

Real Estate Appreciation Rates for the Phoenix area for 2017

Yep, the overall inventory levels are still incredibly low and it's causing Realtors to have to look to other sources of property for droves of hungry buyers AND unassuming sellers are being taken advantage of by investors and real estate investment companies that are trying to stock up on inventory before our actual busy season (April through June) hits.  

HINT: If the deal seems to good to be true from one of these investors or real estate companies that "buy for cash and close when you want" then it probably is or there's a reason behind it that you aren't aware of...like your home is worth WAY more than you think.

Keep in mind that we have four "markets" here in the Phoenix area....the under $200k market, the $200-$500k market, the $500k to $1M and then above $1M.  Supply and demand is different in all four of these markets.  Sales under $200k were 33% of sales in our area in 2017 so keep in mind that has a large impact on the overall average.  Ask your trusted real estate advisor what the stats are for your particular area and price range so you remain competitive prior to listing your home for sale. 

Appreciation rates are as follows:

Under $200k 7.7%

$200k - $500k: 3.5%

$500k - $1M: 1.7%

Over $1M: 0.1%

Now let's talk mortgage interest rates. 

Yep, they've gone up.  This past week the 10-year Treasury note hit the highest level in three years which basically means higher mortgage rates.  They are currently over 4%.  Keep in mind that from 2003 to 2011 the rates averaged between 5-6% and we have basically been spoiled since then.  Typically rates are lowered to spark the housing market and, based on the info above, we can see that it worked 😊 The good news is it's still very affordable to purchase a home and live here in AZ as compared to many other areas that are this desirable to live.  

Get financing NOW! 

Team Evo's SECRET LISTINGS LIST

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Rare Find In The Gardens

During the 1800's, orchids were only found in the tropics and were hard to find. The Victorians would collect exotic orchids as a sign of luxury and style. When given as a gift, the more rare the orchid was, the deeper your love for the receiver. Fast forward to this freshly remodeled ''Orchid''! As exotic and luxurious as an orchid, this home has it all. A 2 car garage, 4 bedrooms, a loft PLUS large family room, a separate dining area and a kitchen to DIE FOR! Gorgeous ''wood'' tile floors, beautiful white cabs with the perfect granite tops, and fantastic custom paint throughout. Stainless appliances complete the look!! There's also a 1/2 bath down for guests and homeowners convenience. The back patio is covered in beautiful pavers with planting boxes. The Gardens is a highly sought after family oriented community in south Gilbert just seconds from shopping, restaurants and the 202! Get anywhere in the Valley quickly with such close proximity to the freeway system! Enjoy the community pools and many parks throughout the Gardens neighborhood!! Connect with your neighbors on the community page and get involved in all the holiday festivities! 

Posted on October 4, 2017 and filed under Real Estate News.

Whoa Nelly!!

What, what, WHAT?!!  Up MORE than a month's inventory since last month?  Do not fret, Real Estate buyers and sellers, because that's what normally happens throughout the holiday season it just came a little late this year.  No, you aren't going to have trouble selling your home this winter / spring but you might feel a little "rushed" if you are planning to buy but you are waiting until this summer.  We're feeling the "buying rush" tremors already.

PS...have you ever moved in the summer in Phoenix?  It's a bit warm.  Just a thought...  

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The “Perfect Storm” for Homebuyers

Sellers are beginning to feel the “holiday slowdown” as we move further and further away from the feeding frenzy of summer.   We had fewer sales in September and did experience a spike in new listings.  Our inventory has increased just a bit causing more competition for sellers and more selection for buyers.  Interest rates remain low allowing for affordable financing.  Increased inventory, motivated sellers, and affordable financing?  It is the perfect storm for homebuyers.  

Is the Phoenix Real Estate Market finally on Summer Break?

It happens every year but usually we see it at the beginning of July vs the end.  The market is finally showing signs of the summer slow down.  Up from 2.58 months inventory in June to 2.83 in July and down just a tad in sold listings, we are finally seeing the numbers reflect it.  For buyers, this might be a good time to find that perfect home...while you have a little breathing room before the market kicks up again.  For sellers, it's still a sellers market but you might want to air on the side of realistic with your pricing and negotiation terms.  The more inventory creeps up, the more choices the buyers have. 

Did my house increase in value since 2014?

Wondering if your home increased in value since this time last year?  Here are the numbers.  We are down more than a month in inventory since then.  Most homes / areas have realized a nice increase in value.  Since different areas of the Valley perform at different rates, text 480.250.0023 for your specific value quote.  You can call or email (Katie@EvoAZ.com) too.  Happy Summer! 

Money Recently saved for our home sellers = $45k!! How?

In the last 4 weeks, we’ve saved $15k and two sales for two Team Evolution home sellers.  How?  Here are their quick stories:

Picture a family of 4 with one on the way.  The kiddo’s are both still in diapers.  Mom and Dad had to move quickly and unexpectedly for a job transfer and had to sell their AZ residence as quickly as possible and for the most money possible for the move.  4 agents had visited the home before us and all 4 quoted at or around $5k for a “plumbing issue” while also horribly undervaluing the home (by at least $20k).  These agents lacked knowledge and vision.  Enter Team Evolution… once the family was moved our crews began cleanup, landscaping, and repair.  For less than $1,000 the home was sparkling clean and ready for its new buyers…at a price that was $30k higher than the lowest quote one of the other agents gave the family.  Oh and we found the buyer BEFORE the house even hit the MLS saving the family tons of time and money in holding costs.  The home closed 4 weeks later.  The family is now settled into their new home with an extra $35k in their pockets. 

 

Fast forward a few weeks to another set of Team Evolution sellers that just accepted a cash offer on their home on acreage (closing in two weeks).  The inspector had suggested a complete replacement or repair of the patio roof.  We received that request and were given the option to either remedy the situation or allow for an additional $10k off the price of the home.  Now, this home is only 8 years old and a complete replacement of the roof doesn’t really make sense nor would a repair cost anywhere near $10k.  We advised our sellers to remedy the situation.  The roofer charged them $800 all in.  Boom… we just saved $9,200 thanks to Team Evolution and their experience, expertise, and attention to detail! 

When choosing real estate representation, know who you are working with!  If you can’t confirm that there is experience, a consistent and successful track record, and plenty of knowledge under their belts…you may want to move on.  Oh and a complete construction crew at their fingertips is a must too! 

Market Update! June 2015

We are down almost an entire months inventory since this time last year.  Many sellers are seeing multiple offers and prices are rising.  If you're buying and you're tired of the bidding wars, give us a call.  We have a few tricks up our sleeve.  Thinking of selling?  You should be on the market now.  480-250-0023

Should you Remodel it, Refi it, or List it?

April's numbers roll in, we are seeing even more of a dip in inventory levels and feeling a very noticeable serge in the Phoenix housing market.  Interest rates still remain incredible low and most people are faced with the decision to remodel and sell (or flip it) for more profit, refinance it, or list it as is for a profit.  All three of these are options in this market and many of our clients are taking advantage of them.  Contact us at480.250.0023 or Katie@EvoAZ.com for details.

Where Did All the Houses Go? Monthly Market Update April 2015

Well, what have we here??  It looks like we gained 1,000 more listings this month than we gained last month and we sold 2,000 more than we sold last month.  That drops our inventory levels to 3.33 months.  We are on the brink of a strong sellers market if this continues.  The rule of supply and demand suggests this will cause price increases.  Our team has experienced a major increase in buyer activity.  The summer months approaching, looming interest rate increases, and the dwindling selection (and therefore increased prices) are the driving force behind the recent buyer activity that we are experiencing.  Attn BUYERS!  If you wait much longer you'll pay more for less house and will have less to choose from.  Period.  Sellers, as we approach our busy season, get prepared.  Do not relax due to the increased market activity.  It will die down in July.  If you wait too long you may be picked over. 

Just Sold in Phoenix, AZ - By Team Evolution Real Estate - February 2015

February 2015 sales for Team Evolution Real Estate totaled $711,800!

 6410 W Cortez ST Glendale, AZ 85304

6410 W Cortez ST Glendale, AZ 85304

 2301 E UNIVERSITY DR 451 Mesa, AZ 85213

2301 E UNIVERSITY DR 451 Mesa, AZ 85213

 17107 E CALAVERAS AVE  Fountain Hills, AZ 85268

17107 E CALAVERAS AVE 
Fountain Hills, AZ 85268

 1194 E Canyon TRL  San Tan Valley, AZ 85143

1194 E Canyon TRL 
San Tan Valley, AZ 85143

The Seller's market is COMING!!

WHOA!  We are down nearly an entire month's inventory since last month.  It's happening faster this year than it did last year.  What's happening you say?  The full fledged Seller's market of course!  Buyers are out in droves right now due to the changes in lending, the low interest rates, and the reasonable home prices.  Good news for seller.  Buyers, secure your home now while you still have a selection!

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Time keeps on ticking, ticking, ticking…

With the mortgage interest rates as low as they are, the changes that the mortgage industry just announced (money savings for borrowers), and inventory levels that are at the highest they have been since  this time last year, it's now time to buy.  If you are a buyer, don't wait until our traditional busy season.  If you start now, you'll be loving life in your new living room while the "late to the party" buyers are out scrambling for homes and out bidding each other.  It happens nearly every year.  Be ready for it this year!   And Sellers, don't think your home is going to sit on the market just because inventory levels are a little high...they always are this time of year.  The buyers are out there NOW buying up the inventory.  As long as you are properly priced for your condition, you'll get activity in this market!  Call or text 480.250.0023 with any market condition questions.