Higher home prices, a construction labor shortage, and tighter lending guidelines are among the factors keeping the home building market from a robust recovery. Patrick Breen/The Arizona Republic Higher prices, along with several other factors, are among the challenges to the recovery of metro Phoenix’s new-home market. The median existing home price in the region is now $178,000, Continue Reading
Valley MLS Inventory
Check out these stats! This graph and chart will show you how many active, sold and new listings there have been in the east valley from January 2012 to December 2013. Sales are down from this time last year and months supply of inventory is up. MLS inventory Continue Reading
Check out these January ARMLS Stats
As members of the Multiple Listing Service, we are privy to some great local statistics each month and I thought I would share this month's data as it gives a year in review perspective. COMMENTARY by Tom Ruff of The Information Market 2013: Year in Review The end of the year only comes once. That's why we can't pass up the opportunity to focus on how the market fared in 2013. Below you Continue Reading
Top 10 Phoenix area Luxury Listings
Here are this weeks top 10 luxury listings which are located in the Metro-Phoenix, Arizona area. Stay tuned for the next installment! 10696 E WINGSPAN WAY Scottsdale, AZ 85255 / 29,700 square feet plus a 4228 square foot guest house on approx. 17 acres / 8 Bedrooms / 10 Bathrooms / 10 car garage 5850 E Glenn DR Paradise Valley, AZ 85253 / 16,370 square feet on over 8.5 acres / 6 bedrooms / Continue Reading
One of our pending listings made the news….read on for details:
By Maria PollettaThe Republic | azcentral.com Tue Jan 7, 2014 10:20 AM A Valley homebuilder that specializes in turning tricky infill lots into high-end subdivisions plans to make over 6 acres of east-central Mesa land pending city approval. Porchlight Homes, which has communities in Phoenix and Scottsdale, would transform the vacant property on the southwestern corner of East Southern Continue Reading
Upcoming Phoenix Home and Garden Show
The show dates are January 10, 11, & 12, 2014. Adult admission is $5.00 Customer appreciation day is Friday between 4-6pm, everyone attending will get FREE admission! Click this link & register for 1/2 off admission to the show: http://www.maricopacountyhomeshows.com/passes/ There are Home Improvement Seminars each day beginning at 11am. Show hours are: Friday 10 am – 6 Continue Reading
Rates Hold Steady
Fed Holds Rate Steady as Inflation Worries Rise Wall Street Journal (06/26/08) P. A1; Reddy, Sudeep The Federal Reserve on June 25 ended its aggressive campaign of interest rate cuts, holding its target for the federal-funds rate-charged on overnight loans between banks-at 2 percent. The decision to stand pat contrasts with recent actions by numerous central banks overseas that have begun Continue Reading
First Time Buyers’ Dos And Don’ts
If you are a first time home buyer, you have a lot to learn. Working from a blank slate you must build an understanding of the housing market, determine what you can afford, land a loan and hone in on a home that's a good fit for your lifestyle. The transaction will likely become your largest asset ever so there's little room for error. It is a daunting task, but you can ease your Continue Reading
Forecast for the Week
After last week's relatively slow economic news calendar, things will heat up this week with several events that have the potential to move the market. On Wednesday, the Fed will announce their interest rate decision...and then the very next day, the Fed's most favored gauge of inflation will be released, the Personal Consumption Expenditure Index (PCE). It will be interesting to play armchair Continue Reading
Current Market Statistics
There are currently 55,587 homes listed in Maricopa & Pinal Counties. Last month 4,654 houses sold in the same areas. This leaves an 8 month over supply as opposed to a 19 month over supply of listings in February!!! The market is looking up, our office is busy as heck with both buyers and sellers. Our listings are getting shown, we are receiving offers on homes that are priced right & Continue Reading
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