Arizona Real Estate News

 

Nov. 1, 2019

September Market Update | Residential Market News Phoenix Arizona Metro Areas

Our Real estate market continues to improve in every metric. 
Sales are up 13.8% for the year. Average and and median prices are up 5.1% and 7.7% respectively.
The median of $280,000 for this month is the high-water mark for home sales not only this year, but the highest ever!
A good time to own real estate! 
 
Thank you all for being a part of my real estate family and I look forward to our next call! 
    
septamber data.PNG
 
    Have a safe and fun evening!    
 
  (see full reports here) https://armls.com/docs/2019-September-STAT.pdf  
Posted in Market
Oct. 1, 2019

August Market Update | Residential Market News Phoenix Arizona Metro Areas

Greetings, 
This month I wanted to lead with something different. (We will get to the real estate news in a moment ;)) everyday life can be a struggle between the good and bad the yin-and-yang we all want to be better and strive to remove our character flaws. This is a daily event and it start with recognizing what you want to excel at for me I think the list here is most relevant: 

1- #fatherhood - becoming the best partner possible.
2- #husband - this should perhaps be number 1 but placing our spouse 1st we are in essence making this the "umbrella" #1
3- #health - take time to care for your self, work on what you feel is important (body, mind, soul, spirit) 
4- #career - work with a unshakable determination and dedication towards your goals. Never give up and serve your client better and at a higher level than you best peers and in that act alone you will differentiate your product and service.
5- #friendship - for me this is about spending time and energy to foster those relationships that are important. Trying to take care of your friends can never be a waste of time. Caring for others is a selfless act that will pay your soul handsomely in peace and solace. We all go to sleep alone, no matter who is out beds. 

#gratitude give your self 10 minutes to watch this video I came across recently. 
It is very impact and delivers a strong message! My gratitude is for each one of you and the opportunity to with with you on your real estate en-devours. Your trust and confidence that you place in me is
Arizona Real Estate picture 9.30.2019
Inventory is low prices are up and we remain in a strong sellers market. Low interest rates are keeping buyers happy and purchasing homes at a record pace. Demand almost always subsides every year between July and January. It’s only when a counter trend occurs that we have a story. When judging your bushels of apples, you want to view the year-over-year trend. Sales in August were 8.6% higher than a year ago, which understates the real year-over-year improvement. There was one more business day last year, which brings our real improvement closer to 13%. This August accounted for the third highest sales volume in ARMLS reporting history, surpassed only by 2004 and 2005, with only 266 fewer sales than ‘04. With 690 more sales this year than last, 2019 sales year-to-date have now surpassed 2018. Looking ahead to how the year might end, I’m willing to go out on a limb and say the prognosticators were wrong back in January (I may or may not have been one of them). 2019 sales will surpass 2018 in both sales volume and price.   
Eric Williamson - August 2019 - Market Snapshot.jpg
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In a recent article I saw this headline!
"Phoenix Replaces Las Vegas As Top City in Annual Gains!" - 
prices are up up up! I have to ask how long can this uptrend last we have been in appreciating market for 9 years... All markets rise and fall and perhaps we are primed for a pullback? Just going out on a limb with that one. 
That leads me to the recent flier I put together below and some commentary about the "ibuyers"  offerpad, zillow, knock & open door along with the traditional wholesalers out in the market
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Another national iBuyer has entered the Phoenix marketplace. This time it’s Atlanta-based Knock. Knock’s first closing occurred mid-April and to date they’ve purchased approximately 25 properties in Maricopa County. When it comes to iBuyers, Phoenix is ground zero. The question arises, why Phoenix? ATTOM Data believes housing affordability (and availability) likely plays a role in this, as does overall consistency of existing housing stock, stating: “iBuyers rely heavily on data and algorithms when evaluating potential properties. Areas with inconsistent and highly unique housing makes this approach less reliable.” Personally, I believe fate is the primary reason. The CEO of Opendoor was born in Glendale and the entrepreneurs behind Offerpad are from the East Valley. It may be as simple as starting in the market you know best. And while I think fate placed the roots of Opendoor and Offerpad in Phoenix, I think Zillow selected the Valley simply to go toe-to-toe with the competition. For the more conspiratorial among us, it could also be some sort of “hey we’ll team up later strategy.” (When you view the graphic below, you’ll see Zillow is basically everywhere Opendoor is.) ARMLS STAT AUGUST 2019 ARMLS STAT AUGUST 2019 Another reason why Phoenix is so popular may lie in the subtle aftermath of the housing collapse. Large institutional investors like Blackstone, Colony and American Homes for Rent found they could look at properties through computer models and make split-second decisions to purchase, and they purchased thousands of homes this way. As we all know too well, Phoenix was the epicenter of the housing crisis. If you look at the home bases of the iBuyers and the cities where they’re active, you’ll see they closely resemble the cities where the institutional buyers were most active during the housing crash. The successes by institutional investors in 2012 might have offered proof of concept, particularly to venture capitalists. The graphic below shows the markets where the iBuyers are currently active.  
ibuyermarkets.PNG
History will tell us who succeeds and who fails, but it should be noted that none of the iBuyers are turning a profit. And Zillow, the behemoth of them all, was just called, “One of the most flawed business models I’ve seen in a very very long time,” by Steve Eisman of Neuberger Berman in a recent interview with CNBC’s “Power Lunch” team. Eisman, who was played by Steve Carell in the movie “The Big Short”, made the comment while explaining why he is shorting Zillow stock. The biggest problem he has with Zillow is what he calls their internet buying business. He does not think the company understands the real risks of the business, which he believes are massive. As an example, Eisman referenced the first words out of the mouth of Zillow’s CEO when the CEO mentioned TAM during their recent conference call. TAM stands for Total Addressable Market, with the Zillow CEO defining TAM as the U.S. housing market in its entirety. Explaining something I’ve attempted to put into words for years, Eisman addressed Zillow’s definition of TAM: “It’s a myth application of the word TAM to apply it to the real estate market because there really is no TAM in the way people think about in terms of the internet. There are thousands of mini markets all over the United States, they’re all local, they’re all extremely different, they all have incredibly different risks.” The iBuyers are not the only “new” business model in our marketplace. It seems a new disruptive venture capital backed business model comes into our market each month- enter Kribbz. And they aren’t just targeting residential sales commissions; they’re also targeting Title, Mortgage, Appraisers and the MLS. Some offer higher prices and greater convenience while others offer monetary savings. Disrupters view our industry as “20th century” with the same talking points always popping up: travel agents, stock traders, and cab drivers. As Purplebricks found out, disrupting the “thousands of unique mini markets” is not as simple as they thought. After entering our market in September of 2017, they exited the U.S. after their stock plummet 75% from when they arrived. How are agents fairing in the field of iBuyers this year? I’d say quite well, with the gross dollar sales volume the highest ARMLS has ever reported through the first 8 months of 2019.   
Last month the STAT mathematical model projected a median sales price for August of $280,000. The August reported median was $280,000. Looking ahead to September, the ARMLS Pending Price Index anticipates the median sales price will decrease slightly, projecting a median sales price of $279,250. It’s a common seasonal occurrence for the median sales price to wobble through the last quarter of the year. We begin September with 6,351 pending contracts; 3,580 UCB listings and 562 CCBS giving us a total of 10,493 residential listings practically under contract. This compares to 9,193 of the same type of listings one year ago. At the beginning of September, the “pending” contracts were 14.1% higher than last year. There were 19 business days in September of 2018 and 20 this year. ARMLS reported 6,897 sales in September of 2018. We expect sales volume will be higher this year, our guess is somewhere around 8000.  
Thank you all for looking through my market update I hope it is helpful. 
As always please let me know if I can help you in any way. Erics' cell 602.435.6708
See you next month. 
**** portions shared from ARMLS STAT
Posted in Market
Aug. 18, 2019

Market update July 2019

 

I hope this email finds you all doing well and having a wonderful Friday early evening! 
Another months of sales data is ready for you. 
We continue to stay in a "sellers market"  with increasing prices, shrinking supply & inventory, increasing sales volume & appreciation rates.
Many people ask if we are in another bubble. I do not think so, we are not doomed to repeat the bubble. The reality is that we’re not afraid to repeat 2004, it’s the rapid 45% appreciation rate of 2005 that sparks fear and hesitance. Many laws and industry changes have been put into place since that time to avoid repeating history; changes that affected nearly every industry involved in residential real estate. That’s what makes this time interesting to watch going forward. We have been here before, but this time the industry is wiser.Appreciation rates in Greater Phoenix are forecasted to be positive for the rest of the year and into 2020. Enjoy the ride!
As always thank you for allowing me the privilege  of being your realtor and please let me know how I can help!
Posted in Buying
Aug. 18, 2019

Steps to interview an agent

Steps to Take Before You Hire a Real Estate Agent

 

Buying and selling a home is a complicated process, and it’s natural to want an experienced real estate agent to guide you through it. However, there are some things that buyers and sellers should take care of before they reach out to a real estate professional. Read on to have these tasks broken down into simple steps that anyone can follow.

Buying

When buyers don’t have a solid understanding of their finances, it causes frustration for everyone. Before shopping for homes, buyers should talk to lenders and get pre-approved for a loan, this will let a buyer know the amount they can borrow. Buyers should provide information about their income, assets, debts, and credit score to receive pre-approval. If you don’t know your credit score, the Consumer Financial Protection Bureau explains how to get yours.

 

If the mortgage that a buyer is pre-approved for is less than they’d hoped, they may decide it’s not the right time to buy. Paying down debts, building up savings, and improving one’s credit score can increase the pre-approval amount, but doing so takes time.

 

Sometimes, buyers qualify for a larger mortgage than they’re comfortable with. Buyers aren’t obligated to spend the maximum that they’re qualified for, and in some cases, doing so can harm the buyer’s overall financial health. Buyers should assess their budget and financial goals to come up with the amount they’re willing to spend on a home each month. In addition to the mortgage payment, buyers should factor in homeownership expenses including PMI, property taxes, homeowners insurance, HOA fees, utilities, and maintenance.

Selling

Sellers have their own to-do list to wrangle with. Before buying their next home enters their minds, sellers must get their current home ready to sell.

 

Sellers should tend to loose doorknobs, dripping faucets, stained carpets, scuffed walls, and other minor repairs that are easy and inexpensive to complete. For the most part, sellers should avoid spending money on major home improvement projects unless a realtor advises that they’re necessary to attract buyers. The exception is structural and mechanical issues that would come up during a buyer’s inspection, because problems that arise during an inspection can stall or stop a sale. To learn if there are serious issues to fix (or that warrant a reduced listing price), sellers should schedule a pre-listing home inspection. Home inspections cost an average of $278 - $390 nationally, and they can make the difference between a smooth transaction and protracted negotiations.

 

Once the home is in good repair, sellers should organize and stage. As HGTV explains, the point of staging isn’t to decorate to the seller’s tastes; rather, it’s to make the home a blank slate that interested buyers can imagine themselves living in. In addition to decluttering and removing personalized decorations, sellers should reorganize furniture so that rooms appear spacious and are easy for buyers to move through.

 

A real estate agent is there to guide clients through the most confusing aspects of buying and selling a home, like setting the right asking price and closing on a new home. But before getting to that point, home buyers and sellers have their own legwork to do. By handling these simple tasks before calling a real estate agent, clients avoid wasting their hard-earned time and money when buying and selling a home. 

 

credit :

Medina James <medina@dogetiquette.info>

Posted in Buying
July 10, 2019

June 2019 real estate market update

 

read the full report here- 

https://armls.com/statistics

Posted in Market
May 9, 2019

How to Remove Signs of Pets at Open House

 

 

How to Remove Signs of Pets at Open House

 

If you are a pet owner, one of the most important things you must do when prepping your home for sale is eliminating problematic signs of pets. Potential buyers don’t want to walk into a home and see or smell signs of a pet, even if they own pets themselves. As a homeowner, there may even be pet smells or damage around your home that you haven’t noticed because you’re used to it. Your job as a seller is to find and eliminate these problems to make your home a clean and attractive space buyers want.

 

Remove Sights and Smells of Pets

The biggest giveaway that pets live in the home (and the biggest turn-off) is pet odors. There are the obvious sources of pet smells, like a litter box or dog bed. Along with these sources, there are also less obvious ways that pet smells linger, whether it’s from fur that they shed or smells in carpets and furniture. To tackle those stubborn smells, you may want to have your home deep cleaned by a professional. A professional deep cleaning will cover everything from counters to carpeting to remove buildup that causes lingering odors.

 

Once your home has been cleaned thoroughly, you want to keep odors away as long as your home is on the market. You can take some preventive steps by keeping dogs brushed and groomed regularly. U.S. News also recommends keeping pets’ nails trimmed to avoid damage 

from scratches. Vacuum daily, including furniture, and don’t allow pets on furniture where smells could start reforming. Using an air purifier (you can purchase one online for under $75) can keep smells away too, and some air purifiers are designed specifically to handle pet smells.

 

When you know your home is going to be viewed, opening windows beforehand to let fresh air flow through really goes a long way toward making your home smell fresh. You should also remove a litter box and other obvious signs that a pet is usually around. Make a practice of keeping food and water bowls stored away when they aren’t being used and keep pet toys and treats stored out of sight, too.

 

Fix Pet Damage

Besides being clean and free of bad smells, your home also needs to be in the best condition possible, which means repairing any damage pets have caused. Pets can leave marks on walls, scratches, and stains on furniture and floors. There may be small things that you wouldn’t notice, so consider asking a friend to come over and let you know if anything jumps out at them. If you have any furniture that’s been marked up by a pet, it may be a good idea to put these pieces in a cheap storage unit while you’re selling your home. In Phoenix, you can rent a 5’x5’ storage unit for as little as $20 a month at the StorQuest - Chandler/Frye facility.

 

If you have scratches on hardwood floors, you can probably fix those yourself as long as the damage isn’t too bad. Small scratches can be masked with a stain-filled marker, but if you have deeper or widespread scratches, you may need to sand and re-stain a portion of the floor. Stains on walls can be eliminated with a little DIY effort, too. If you have a pet that marks, leaving urine stains on the lower part of walls, K9 of Mine recommends covering those stains with an odor-sealing primer before painting.

 

Check Outdoor Spaces

If your pets spend time in your yard, don’t forget to look for trouble spots outdoors. Check for holes if you have a dog that likes to dig, and fill in any you find. Holes are unsightly, and you would hate for a potential buyer to step in one and possibly get injured. Some pets chew or lay on plants, so check plants for damage too. And be sure to pick up your pet’s waste before a showing. Along with holes, that’s another thing you certainly don’t want buyers stepping in!

 

The reality of pet ownership is that fur, smells and even some damage to your home all comes with the territory. Even though your pet is totally worth it, potential buyers won’t feel the same way. Finding these issues and fixing them now will make sure buyers see the value in your home, rather than focusing on pet problems.

Medina James medina@dogetiquette.info

Posted in Selling
April 14, 2019

Just Listed in 85257

Just listed | Completely Remodeled | 3 bed | 3 bath | 2380 sq ft | 8617 sq ft Lot | Awesome Old Town Scottsdale Location | More pics and property descriptions below

 

http://www.azagentpro.com/property/5908939/?addrs=1 #EricWilliamsonRealtor #SellforTopDollar #ArizonaRealEstate #AZAgent #JustListed #OldTownScottsdale #azrealtor #arcadia #remodeled

Posted in Buying
April 14, 2019

Just Listed in 85008

Just listed | Completely Remodeled | 4 bed | 2 bath | 1898 sq ft | 7658 sq ft Lot | Awesome Arcadia Lite Location | More pics and property descriptions below

 

 

 

 

#EricWilliamsonRealtor # SellforTopDollar #ArizonaRealEstate #AZAgent #JustListed

http://www.azagentpro.com/search/details/elm/0/

Posted in Buying
April 14, 2019

Market update March 2019

Posted in Market
April 2, 2019

Canine Courtesy: Following the Basics of Doggie Etiquette

 

Canine Courtesy: Following the Basics of Doggie Etiquette

 


If pressed, most dog owners would probably admit that they’re a little prejudiced when it comes to their furry friends. People can, perhaps, be forgiven if they’re a little blind to their pups’ periodic transgressions when it comes to neighborly etiquette. They shouldn’t be forgiven if they allow it to keep happening. Standing by without intervening while their pet urinates on the neighbor’s front yard time after time, or doing nothing to keep their pet from barking at 4 in the morning is truly inexcusable and shouldn’t be permitted. In fact, it isn’t permitted. It’s why most communities have laws to keep people from letting their dogs go to the bathroom on other people’s lawns and why some areas have noise ordinances aimed at holding dog owners accountable for letting their pooch be a noisy pest night after night. And it’s why everyone should observe the rules of dog etiquette.

Dog duty

There’s really no excuse for not cleaning up after your pet. People often claim they just forgot to bring baggies or some means of picking it up, even though they’re fully aware of the fact that it’s against the law not to pick up their dog’s waste. Others just don’t want to bother with it, claiming it’s too disgusting. That’s a dangerous attitude to take in some apartment communities, where authorities have gone to great lengths to enforce the law, even going so far as to get DNA samples from dog owners so they can match the “evidence” to the guilty pet and owner. If you’re still thinking it’s too much trouble, remember that any pet store sells doggy bags that can conveniently be attached to a leash. You can do just as well with plastic grocery bags. Whatever you decide to use, just don’t forget them.

No more peeing with impunity

It can be difficult to keep your dog from urinating on everything they see. It’s in their nature to mark objects, but that doesn’t mean you have to let your pup hose down the neighbor’s prize butterfly bush. Try to encourage him to do his business in your yard before you head out into the neighborhood, after all, you’re the one holding the leash. If you like to take your pet for a stroll along a walking path, keep him from leaving puddles where people will be walking.

Don’t spare the leash

It goes without saying that your dog should stay on his leash out in public. That means in your yard or out on the street after dinner. It’s not safe for your pet to let him run free, and it’s unsettling for people who are just out walking around to worry whether the eager dog running directly at them is going to attack or just keep going. People often carry mace or firearms and won’t hesitate to use them if they think your dog might bite them.

A good run

If your dog is cooped up inside all day, it’s important to let him get outside and stretch his legs for a while. Like children, dogs need to burn off some of that pent-up energy. It’ll help keep them from damaging your apartment or house and from getting too frisky with visitors and neighbors, who may not like dogs as much as you do. If the lack of a safety fence is keeping you from letting your dog out, consider having one installed in your backyard. The average cost to install a wood fence in Phoenix ranges from $874 to $1,814.

As cute as your dog might be, that doesn’t mean you’re immune from being courteous and displaying good dog etiquette. Keep these tips in mind to help make sure your pup minds his P’s and Q’s.

Courtesy of Pixabay

Thank you so much!

 

Medina James
Posted in Buying