Arizona Real Estate News

 

Aug. 21, 2018

Pathway to purchase in back in 2018

Attention Home-buyers!

Are you looking in these zip codes for a new home?

85041,85042,85016,85017,85301 & 85051.

You can now receive a $20,000.00 gift to be used to purchase a primary residence.

You can use the money for down payment or closing costs credit.

You can read all about it here!!!! Pathway to Purchase

There are limited funds available so there is urgency associated with this program.

To see homes that qualify in these zip codes click here-

Homes for sale in 85042

Homes for sale in 85041

Homes for sale in 85016

Homes for sale in 85017

Homes for sale in 85051

Homes for sale in 85301

Pathway to Purchase 1

Posted in Buying
July 9, 2018

June Market update

Market update-
 
Eric's take; We have seen some interesting changes in this appreciating market. With the emergence of the "investor offers" with faces and names like, offer pad, we buy ugly houses and the like they continue to grow their business models and market share. I have said this many times and still feel like homeowners who sell to these types of companies and investors are literally giving away thousands of dollars to clever marketing. Collectively they accounted for 3.05% of the market a small amount over all. Keep in mind their business model only works in an appreciating market which we have been in since 2010.
I still feel like for most people their home is the #1 wealth accumulator over time and people work very hard to earn a paycheck every week, it baffles me why they leave thousands of dollars on the table when selling? I understand convenience but at what cost?
Moving on.... The median house price was reported by ARMLS as $265/k we are back to our peak pricing pre - bubble 12 years ago.
Overall the housing numbers are strong.... very strong! This last year reports the best data on record in 17 years of reporting!
As always thank you for reading and please think of me when buying or selling!
 
read the full ARMLS reports here-
http://armls.com/docs/2018-May-STAT.pdf
http://armls.com/docs/ARMLS-Market-Watch-2018-Q1.pdf
Posted in Market
May 1, 2018

Elk Ridge Lodge

Posted in Selling
April 13, 2018

March Market update

full report here- March Market Update

 

Posted in Market
April 13, 2018

2402 E 5TH ST 1436, Tempe, AZ 85281

2402 E 5TH ST 1436, Tempe, AZ 85281
#justsold #ericwilliamsonrealtor #8281 #Villagio #tempe

http://www.flexmls.com/share/1P9A3/2402E5THST1436TempeAZ85281

 

Posted in Buying
March 14, 2018

33121 N 40TH PL, Cave Creek, AZ 85331

 

33121 N 40TH PL, Cave Creek, AZ 85331 #justsold #ericwilliamsonrealtor #85331 #CaveCreek #DoveValleyRanch #AZAgentPro This single-story home is located on a cul-de-sac at the base of the Phoenix Sonoran Preserve! Step inside and discover an open floor plan highlighting the eat-in kitchen with granite countertops, stainless steel appliances, and a pantry! Travel through the adjacent sliding glass doors and relax under the covered patio while enjoying the grassy backyard. Back inside, the Master suite with a walk-in closet and an ensuite bathroom with a spacious tub. Close to golf, shopping, and dining options!

Posted in Buying
March 6, 2018

6101 E GREENWAY LN, Scottsdale, AZ 85254

 

6101 E GREENWAY LN, Scottsdale, AZ 85254 #justsold #ericwilliamsonrealtor #85254 #Kierland #Scottsdale

Lovely 3 bedroom, 1.75 bathroom Scottsdale home.**Brand new roof!!** Open floor plan with brand new tone paint and carpet. Entry opens to family room with cozy fireplace, wood- look floors, and plantation shutters. Small room with closet off entry possible home office. Kitchen at back of home with breakfast bar, pantry, and NEW stainless steel appliances. Master bedroom with 3/4 en-suite bath plus dual sinks and large closet. Covered patio off back entry overlooks gorgeous grass yard with fenced private pool. Also a storage shed and RV gate. Plenty of room for your toys and entertaining. This rare find won't last long!! A must see!! *Seller recently paid for a 3rd party complete home inspection (attached). Home Inspection is attached including all completed repairs.

 

Posted in Buying
Feb. 25, 2018

4225 North Miller Road, Scottsdale, AZ 85251

4225 North Miller Road, Scottsdale, AZ 85251 #justsold #ericwilliamsonrealtor #85251 #oldtownsottsdale

 

Posted in Selling
Feb. 25, 2018

February Real Estate Market update

read the full report here--

http://armls.com/docs/2018-January-STAT.pdf

""The Patriots were in the Super Bowl, pitchers and catchers are reporting to spring training and the Phoenix Suns are jockeying for the best odds of winning the draft lottery. It must be February and real estate agents across the Valley know what that means. Their selling season has begun. This is the time of year where the number of listings under contract increase daily and set up sales volume for March, April, May and June. Last year, these four months accounted for nearly 40% of all sales. So look in the mirror and repeat after Stuart Smalley, “I’m good enough, I’m smart enough, and doggone it, people like me!” It’s go time folks. We begin February with 17,330 active listings not under contract, 14.8% fewer than the 20,330 in February of 2017. Low inventory and steady demand means prices will continue to rise. In January we saw a 2.5% increase in year-over-year sales volume and an 8.9% increase in the year-over-year median sales price. But low inventory numbers only tell half the story. To get the full story, we need a break down by price point. Sellers control the lower price ranges while buyers have an abundance of choices at the top of the market. In January of 2017 ARMLS subscribers reported $1,668,131,788 in sales volume. This year saw $1,917,861,388 in sales volume, the highest dollar sales volume for January in the history of ARMLS. We never discuss commission rates, but the total sales number on which those commissions are based was 15% higher this year over 2017. As our new year starts to unfold, we’re entertaining two divergent theories as to what 2018 holds in its card. There are two lines of thought: 1) Low inventory numbers will lead to higher prices and the higher prices, coupled with rising interest rates, will restrict demand and 2018 will see fewer sales than 2017. 2) Millennials, the driving force behind our market, are one year older and their appetites and ability to purchase is increasing. That, coupled with an improving economy, will lead to increased sales in 2018. ARMLS STAT JANUARY 2018 ARMLS STAT JANUARY 2018 8 Eventually the first proposition will play out. Tight supply will lead to an increase in prices, these higher prices will cool demand, lower demand will mean more supply and more supply means lower prices. The question is when? Exactly when will likely be determined by the strength of our local economy. Channeling our inner Stuart Smalley, January STAT is going to be a big glass of Kool Aid for subscribers, while possibly providing marketing material for your clients. Homebuyer Sentiment The Fannie Mae Home Purchase Sentiment Index® (HPSI) rose 3.7 points in January to 89.5, reaching a new all-time high of Americans surveyed. These are some key highlights: • The net share who say it is a good time to buy a home rose 3 percentage points to 27% • The net share who say it is a good time to sell rose 4 percentage points to 38% • The net share who say home prices will go up rose 8 percentage points to 52% • The net share who say they are not concerned about losing their job rose by 5 percentage points to 73% • The net share who say their household income is significantly higher than it was 12 months ago remained at 16% from last month Frank Nothaft, the Chief Economist at CoreLogic, added his two cents about homebuyer confidence. “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1% by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective buyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

Posted in Buying
Dec. 30, 2017

December Arizona Real Estate Market Update

 

 “A central theme for the 2018 housing market will be the continuing erosion of housing affordability”, according to Frank Nothaft, Chief Economist of Core Logic. Nothaft is basing his concerns on three economic factors he believes will further weaken affordability in the coming year: rising interest rates, rising home prices and the low inventory of starter homes for sale. Nothaft does not give his opinion on the other side of the affordability equation: household income. If the economy grows jobs and increases wages, this of course would have a positive impact on home affordability. What happens to interest rates, home prices, job creation and wages in 2018 are all speculation at this point and my time traveler friend is not talking. The one thing I do know is the 8% to 9% price growth we’ve seen in the median sales price over the last three Novembers is not sustainable. To put this in perspective we’ll employ the rule of 70. The rule of 70 is a way to estimate the number of years it takes for a certain variable to double by taking the number 70 and dividing it by the appreciation rate. At the 8.5% annual appreciation we’ve seen over the last three years in median price growth in November (70/8.5), prices would double in less than 8 years and three months. Conclusion: Our current market is in balance and our median sales price is in line with our reported median household incomes. Our current appreciation rates will need to fall back in-line with our long-term appreciation rate. Last month STAT projected a median sales price for November of $239,900. The actual median sales price was $245,000. Our algorithm in October was spot on. November… not so good. Our November projection missed the mark by $5,100 (or 2.1% lower than the actual median), by far the worst forecast in modern history. We’ve sent the November algorithm to stand in the corner and think about what it did. We projected that home closings would be comparable to the 2016 total of 6,804. The final sales volume was 7,074. There were 270 more sales this year than last year. Looking ahead to December, we anticipate the median sales price will be $243,000. In other words, expect the December median sales price to see little to no movement. A repeat of last month’s $245,000 would not be out of the realm of possibility. Sales volume for the first 11 months of 2017 was 6.30% higher than 2016, with 86,817 sales in 2017 compared to 81,677 in 2016. Following the pattern of the previous 6 months, we enter December with fewer residential listings practically under contract this year. We begin December with 5,645 pending contracts (3,337 UCB listings and 392 CCBS) giving us a total of 9,374 residential listings practically under contract. This compares to 9,395 of the same type of listings one year ago. Even with fewer “pending” listings this year compared to last and with one less business day this year compared to last, I still expect sales in December to exceed the 2016 volume. ARMLS reported 7,036 sales in December of 2016. Our bold December 2017 forecast of 7,350 sales may be joining the November algorithm in the corner" - 

Read the full report here--- 

http://armls.com/docs/2017-November-STAT.pdf

Posted in Market