National news and local views for the week ending Friday, May 3, 2024

Welcome to your weekly go-to source for the latest updates and insights into the dynamic world of real estate. In this weekly brief, we'll be diving into both national headlines and local perspectives to provide you with a comprehensive view of the current real estate landscape.

Local Market Trends

As of Friday, May 3, 2024

 

This week the median list price for Phoenix, AZ is $599,000 with the market action index hovering around 48. This is an increase over last month's market action index of 47. Inventory has increased to 1,753.

Area	Median Price	Active Listings	New Listings - 5 days	Median Days on Market
85086	$789,000 0.1%	184 0.1%	15	42 -0.2%
85255	$2,100,000 0.1%	367 0.1%	24	60 -0.1%
85383	$651,075 -0.1%	351 0.3%	18	45 0%
85254	$1,087,000 0%	198 0.3%	21	33 -0.3%

Local Market Trends (/) from Mar. to May. 2024.

Welcome to the third installment of our series on unlocking the path to successful home selling. In this post, we dive deep into the world of marketing—an essential element in selling your home quickly and for the best price. We'll explore how to create a compelling listing, use professional photography, and leverage various platforms to reach a wide audience. By mastering these marketing techniques, you'll be well on your way to attracting potential buyers and closing a successful sale.

The Power of Professional Photography

One of the first things buyers notice when browsing listings is the quality of the photos. Great photos can make a significant difference in attracting interest to your property. That's why it's crucial to invest in professional photography when marketing your home.

A professional photographer will know how to showcase your home's best features, using the right angles, lighting, and editing techniques. They can also help stage the property to highlight its strengths. High-quality images create a positive first impression, leading to more clicks, showings, and ultimately, offers.

Crafting Compelling Listing Descriptions

Alongside stunning photos, a well-crafted listing description is key to drawing in buyers. This description should tell the story of your home, focusing on what makes it unique and appealing. Highlight the standout features, such as a renovated kitchen, a spacious backyard, or a convenient location. Include key details like the number of bedrooms, bathrooms, square footage, and any recent updates.

A compelling listing description should also evoke emotion. Use descriptive language to help buyers envision themselves living in your home. Phrases like "perfect for entertaining" or "cozy family room" can create a sense of warmth and comfort, making your property more enticing.

Harnessing the Power of Social Media

Social media is a powerful tool for marketing your home. Platforms like Facebook, Instagram, and even TikTok allow you to reach a vast audience with minimal effort. Sharing your listing on these platforms can generate buzz and attract interested buyers who might not have found your home through traditional methods.

When using social media, be sure to include eye-catching visuals, engaging captions, and relevant hashtags to increase visibility. Consider creating a virtual tour or a short video to give potential buyers a better sense of your home's layout and features. The more engaging your social media content, the more likely it is to be shared, expanding your reach.

Targeted Advertising for Maximum Impact

While organic social media posts are valuable, targeted advertising can take your marketing efforts to the next level. Platforms like Facebook and Google allow you to create ads that reach specific demographics, such as age, location, interests, and buying behavior. This targeted approach ensures that your listing is seen by people most likely to be interested in your home.

Consider working with a marketing professional or your real estate agent to develop an effective advertising strategy. They can help you set a budget, create compelling ad content, and monitor the results to ensure you're getting the best return on investment. 

Marketing mastery is a critical component of successful home selling. By investing in professional photography, crafting compelling listing descriptions, harnessing the power of social media, and using targeted advertising, you'll attract a wider pool of potential buyers and generate excitement around your property.

Stay tuned for the next installment in our series, where we'll explore negotiation strategies and tips for closing the deal. Be sure to check out my free Sellers Guide and if you're ready to start your home-selling journey or have any questions, don't hesitate to contact me. I am here to help you every step of the way.

May is about to get a whole lot groovier!

Join the community every Friday night starting May 3rd for Music in May at Community Park! It's a rocking FREE event for the whole family under the Anthem sky, from 7-9 p.m. Bring your picnic gear and dancing shoes because they've got the best local Arizona bands lined up to serenade you all month long!

Fridays in May | 7–9 p.m.
Last Friday (May 31) 6-9 p.m.
Community Park Amphitheater
41703 N. Gavilan Peak Parkway
Anthem Community Park Upper Parking Lot

Kids dance, neighbors visit, and the park rocks during Music in May in Anthem! Held every Friday night in May in Community Park, this FREE family-friendly event invites the community to grab a blanket, visit the on-site food trucks, and enjoy the diverse sounds of local Arizona bands underneath the Anthem sky. 

Open to the public; free admission and parking. Food trucks are on-site every week.

2024 sponsors

2024 bands

Friday, May 3:   Soulitify (Cinco De Mayo) 
Friday, May 10: Highest Conspiracy (Reggae Variety)
Friday, May 17: Thaddeus Rose Band (Classics Variety) 
Friday, May 24: KC and the Moonshine Band (Country)
Friday, May 31: DJ and Karaoke

2024 food trucks

Food Truck Menus

WEEK ONE - May 3

• Sweet Magnolia Smokehouse 
• Queso Good 
• Cheese Out 
• FrostedFrenzyCupcake
• Moore of That 
• Kona Ice

WEEK TWO - May 10

• Rocco’s Cheesesteaks 
• Pokys Cocina 
• The Snowy Churro 
• Moore of That 
• Big Brotha BBQ 
• Kona Ice

WEEK THREE - May 17

• RockStar HotDogs 
• AZ Fry Guy 
• Big Mamma's Events
• Moore of That 
• Big Brotha BBQ 
• Kona Ice 

WEEK FOUR - May 24

• Flyin' K Bbq 
• The Fry Bread Truck 
• Rosie's Kitchen 
• Doctor Froyo 
• Moore of That 
• Kona Ice

WEEK FIVE- May 31

• Queso Good 
• All Cooped Up in AZ 
• Melnlibbys 
• FrostedFrenzyCupcake 
• Moore of That 
• Big Brotha BBQ
• Kona Ice

Food Truck Menus

National news and local views for the week ending Friday, April 26, 2024

Welcome to your weekly go-to source for the latest updates and insights into the dynamic world of real estate. In this weekly brief, we'll be diving into both national headlines and local perspectives to provide you with a comprehensive view of the current real estate landscape.

Local Market Trends

As of Friday, April 26, 2024

 

This week the median list price for Phoenix, AZ is $595,000 with the market action index hovering around 48. This is an increase over last month's market action index of 46. Inventory has held steady at or around 1,727.

Area	Median Price	Active Listings	New Listings - 5 days	Median Days on Market
85086	$750,000 0%	186 0.1%	20	38 -0.3%
85255	$2,147,495 0.1%	372 0.1%	22	66 0%
85383	$649,995 -0.1%	363 0.3%	34	42 0%
85254	$992,500 -0.1%	186 0.2%	13	36 -0.3%

Local Market Trends (/) from Mar. to Apr. 2024.

Welcome back to our 5-part series on successful home selling. In this installment, we're diving into one of the most critical aspects of selling your home: pricing strategy. A well-planned pricing strategy can be the difference between a quick sale and a home that lingers on the market. Let's explore the key factors that determine the right price for your property and how you can set a price that attracts buyers while maximizing your return on investment.

Why Pricing Strategy Matters

Pricing is more than just assigning a number to your home. It's about understanding market dynamics, buyer psychology, and the unique characteristics of your property. A well-priced home can generate interest, encourage competitive bidding, and lead to a successful sale. On the other hand, a mispriced home can deter buyers and extend the time your property stays on the market. Here's what you need to know about creating a pricing strategy that works.

Factors Influencing Pricing Decisions

Several key factors influence how you should price your home. These include:

1. Market Trends

Real estate markets are constantly changing. Understanding current trends, such as whether it's a buyer's or seller's market, can guide your pricing strategy. In a seller's market, where demand outstrips supply, you might be able to price your home slightly higher. In a buyer's market, you may need to be more competitive with your pricing to attract interest.

2. Comparable Sales Data

Looking at recently sold homes similar to yours, known as "comps," can give you a realistic idea of what buyers are willing to pay. Focus on homes in your area with similar features, square footage, and condition to ensure an accurate comparison.

3. Condition of the Home

The state of your property plays a significant role in pricing. A well-maintained home with modern updates can command a higher price than one needing significant repairs. Consider investing in minor upgrades or renovations that can increase your home's value and appeal to buyers.

4. Location, Location, Location

Location is a fundamental factor in real estate pricing. Homes in desirable neighborhoods with good schools, amenities, and low crime rates tend to fetch higher prices. If your home has a unique location advantage, such as a waterfront view or proximity to transportation hubs, factor that into your pricing strategy.

Tips for Setting the Right Price

Now that you understand the key factors influencing pricing, here are some tips to help you set the right price for your home:

- Be Realistic

While you may have an emotional attachment to your home, it's important to be realistic about its market value. Work with a trusted real estate agent to get an objective opinion on your home's worth.

- Avoid Overpricing

Overpricing can deter buyers and cause your home to sit on the market for longer. A home that lingers often leads to price reductions, which can ultimately result in a lower final sale price. Start with a fair price to attract more buyers and generate interest.

- Consider a Pricing Strategy

Some sellers use strategies like setting a slightly lower price to encourage competitive bidding. This approach can work well in a seller's market, where multiple offers are common.

- Monitor the Market

Even after listing, keep an eye on the market. If similar homes are selling quickly or market conditions change, you might need to adjust your pricing strategy to stay competitive.

In Part 3 of our series, we'll explore Marketing Mastery and how to create a compelling marketing plan for your home. Be sure to check out my free Sellers Guide and stay tuned for the next installment of our series, where we'll explore the next step in the home selling journey: getting your property noticed by the right buyers. Until then, happy selling!

National news and local views for the week ending Friday, April 19, 2024

Welcome to your weekly go-to source for the latest updates and insights into the dynamic world of real estate. In this weekly brief, we'll be diving into both national headlines and local perspectives to provide you with a comprehensive view of the current real estate landscape.

National Real Estate News

Budding competition

The spring buying & selling season is here, and like every year, that's leading to a rise in multiple offers (3.1 for every home sold in March), a greater share of homes being sold above their list price (29% in March), and homes being sold faster (60% of the homes sold in March had been on the market less than a month). [Source: NAR]

Relatively resilient

March existing home sales dropped 4.3% month-over-month to 4.19 million (seasonally-adjusted, annualized rate). Considering that average 30-yr mortgage rates were on an upward trend in Feb/March, this was a reasonably strong result. With inventory levels still limited, the median sales price rose 2.3% MoM in March to $393,500. [Source: NAR]

A bruising 1-2-3 combo

The hotter than expected jobs and inflation data last week was followed by a blistering retail sales report this week. These recent datapoints led Fed Chairman Jerome Powell to say that he was losing some confidence in the path of inflation towards the Fed's 2% target. Average 30-yr mortgage rates briefly touched 7.5%. [Mortgage News Daily]

Local Market Trends

As of Friday, April 19, 2024

 

This week the median list price for Phoenix, AZ is $585,000 with the market action index hovering around 48. This is an increase over last month's market action index of 45. Inventory has increased to 1,710.

Area	Median Price	Active Listings	New Listings - 5 days	Median Days on Market
85086	$749,900 0%	177 0%	20	38 -0.3%
85255	$2,000,000 0.1%	367 0.1%	23	63 -0.1%
85383	$649,993 -0.1%	354 0.3%	29	38 -0.1%
85254	$1,012,500 0%	186 0.2%	23	35 -0.3%

Local Market Trends (/) from Mar. to Apr. 2024.

©ListReports 2024, all rights reserved. This information is from third-party sources and its accuracy cannot be guaranteed.

Welcome to the first installment of our blog series, where we embark on the journey of selling your home and uncover the essential steps to ensure a successful sale. As your dedicated real estate agent, I am here to guide you through every stage of the process, starting with the crucial step of preparing your home for sale. Together, we will work to present your home in the best possible light, maximizing its appeal to potential buyers and ultimately achieving your desired sale price.

Declutter and Depersonalize with Expert Guidance

The first step in preparing your home for sale is decluttering and depersonalizing the space. I will provide you with expert guidance on streamlining your belongings, packing away personal items, and creating a clean, neutral canvas that allows buyers to envision themselves living in the space. With my help, we'll ensure that your home is presented in its most attractive and inviting state. Here's a helpful checklist.

Minor Repairs and Updates: Let Me Handle the Details

Next, it's time to address any minor repairs and updates that can enhance the overall appeal of your home. From fixing small issues like leaky faucets and squeaky doors to touching up paint and replacing outdated fixtures, this will ensure that your home is in top condition for potential buyers. You might even consider having a pre-listing inspection conducted to avoid any surprises down the road. With my network of trusted professionals, you can rest assured that your home will be presented in its best possible light.

Staging for Success: Expertise at Your Service

Staging is an essential part of preparing your home for sale, and I bring expertise in this area to ensure that your home shines in the eyes of potential buyers. I will strategically arrange furniture, accessories, and decor to highlight your home's best features and create an inviting atmosphere that resonates with buyers. With my professional staging services, we'll make a positive impression that sets your home apart from the competition. When staging a home, 20% of sellers' agents reported an increase of 1% to 5% of the dollar value offered by buyers in comparison to similar homes. [NAR]

Investing Time and Effort Together for Success

Preparing your home for sale requires time, effort, and attention to detail, but you won't have to navigate this process alone. Together, we'll invest the necessary time and effort to ensure that your home is presented in its best possible light, maximizing its appeal to potential buyers and ultimately achieving the successful sale you desire.

Partnering for Success

Preparation is the foundation of a successful home sale, and as your dedicated real estate agent, I am here to guide you every step of the way. By decluttering and depersonalizing, addressing minor repairs and updates, and staging your home for success, we'll maximize its appeal to potential buyers and achieve your desired sale price. Be sure to check out my free Sellers Guide and stay tuned for the next installment of our series, where we'll explore the next step in the home selling journey: pricing strategy.

National news and local views for the week ending Friday, April 12, 2024

Welcome to your weekly go-to source for the latest updates and insights into the dynamic world of real estate. In this weekly brief, we'll be diving into both national headlines and local perspectives to provide you with a comprehensive view of the current real estate landscape.

National Real Estate News

More homes for sale

Good news first: there were 24% more homes for sale nationwide in March 2024 than there were a year ago. In some markets, active inventory is already back to pre-pandemic levels. For buyers, having more options is always good. Greater supply could also limit price growth or lead to price reductions in well-supplied markets where there is significant new home construction underway. [Source: Realtor.com]

CPI shocks

Bad news next: March "headline" CPI (Consumer Price Index = inflation for you and me) rose to 3.5% year-over-year from 3.2% YoY in February. That was the 2nd-straight month of RISING inflation. The "core" CPI (which excludes food & fuel prices) in March was flat at 3.8% YoY, having made very little progress over the last six months. The bond market did not like this at ALL. [Source: BLS]

Mortgage rates leap

It was a bruising week for mortgage rates, with the bond market reeling from the 1-2 punch of "hotter" jobs data (the unemployment rate fell) AND "hotter" inflation (CPI rose). The yield on 10-year US treasury bonds spiked above 4.5% (levels last seen in Nov 2023), and average 30-year mortgage rates leaped to near 7.4%. [Source: Mortgage News Daily, CME]

Local Market Trends

As of Friday, April 12, 2024

 

This week the median list price for Maricopa County, AZ is $620,000 with the market action index hovering around 43. This is an increase over last month's market action index of 42. Inventory has held steady at or around 9,274.

Area	Median Price	Active Listings	New Listings - 5 days	Median Days on Market
85086	$740,000 0%	175 0%	17	40 -0.2%
85255	$2,037,500 0.1%	364 0%	27	70 0%
85383	$655,000 -0.1%	347 0.3%	35	38 -0.1%
85254	$1,080,000 0%	179 0.2%	23	36 -0.3%

Local Market Trends (/) from Mar. to Apr. 2024.

Exploring the Benefits of Buying a Second Home in Arizona

Are you dreaming of owning a slice of paradise where the sun shines year-round, the landscapes are diverse, and adventure awaits at every turn? Look no further than Arizona, the land of enchantment and opportunity. While many dream of vacationing in the Grand Canyon State, few realize the myriad benefits of owning a second home here. In this post, we'll delve into why buying a second home in Arizona might just be the best decision you'll ever make.

1. Year-Round Sunshine: Arizona boasts an average of 300 sunny days a year, making it an ideal destination for those seeking a respite from cold winters or dreary weather elsewhere. Whether you're basking in the warmth of the desert sun or enjoying outdoor activities in the mild winters, Arizona's climate is sure to lift your spirits and invigorate your soul.

2. Diverse Landscape: From the majestic red rocks of Sedona to the lush forests of Flagstaff and the Sonoran Desert's iconic saguaro cacti, Arizona offers a diverse array of landscapes to explore and enjoy. Whether you're a nature enthusiast, outdoor adventurer, or simply seeking tranquility amidst stunning scenery, Arizona has something for everyone.

3. Outdoor Recreation: Arizona is a playground for outdoor enthusiasts, offering a myriad of recreational activities year-round. From hiking and mountain biking to golfing and horseback riding, there's no shortage of ways to stay active and embrace the great outdoors. With numerous national parks, forests, and wilderness areas within easy reach, the possibilities for adventure are endless.

4. Cultural Richness: Beyond its natural beauty, Arizona is steeped in history and culture, with vibrant cities like Phoenix, Tucson, and Scottsdale offering an array of cultural attractions, culinary delights, and entertainment options. Whether you're exploring Native American heritage at historic sites like Montezuma Castle or immersing yourself in the arts scene in downtown Phoenix, Arizona's cultural richness is sure to captivate and inspire.

5. Investment Potential: With its growing population, strong economy, and thriving real estate market, Arizona offers excellent investment potential for those looking to purchase a second home. Whether you're considering renting out your property as a vacation home or simply investing in a property that will appreciate over time, Arizona's favorable market conditions make it an attractive option for buyers.

6. Retirement Haven: Many retirees are drawn to Arizona's relaxed lifestyle, affordable cost of living, and abundance of recreational opportunities. Whether you're looking for a retirement haven where you can enjoy year-round golfing, hiking, and sunshine or simply want to escape the hustle and bustle of city life, Arizona offers the perfect blend of relaxation and adventure for retirees.

Buying a second home in Arizona offers a multitude of benefits, from its year-round sunshine and diverse landscapes to its abundance of outdoor recreation opportunities and cultural richness. Whether you're seeking a vacation retreat, investment property, or retirement haven, Arizona's enchanting beauty and endless possibilities make it a destination like no other. 

Ready to embark on your Arizona adventure? Let us help you turn your dream of owning a second home in this sun-kissed sanctuary into a reality. Our team of experienced real estate professionals is here to guide you every step of the way, from exploring available properties to navigating the financing process. We have great lenders available to help you explore the possibilities and secure the perfect financing option for your needs.

Don't wait any longer to make your Arizona dreams come true. Contact us today to start your journey towards owning a piece of paradise in the Grand Canyon State!

National news and local views for the week ending Friday, April 5, 2024

Welcome to your go-to source for the latest updates and insights into the dynamic world of real estate. In this weekly brief, we'll be diving into both national headlines and local perspectives to provide you with a comprehensive view of the current real estate landscape.

National Real Estate News

Wages and inflation

The latest report from payroll processing company ADP showed that the US added 184,000 jobs in February, way above forecasts. Even more worryingly (for inflation), the % wage growth for job "changers" leapt from +7.6% YoY to +10.0% YoY - the highest figure since July 2023. The very important BLS job number for February will come out today (4/5), with roughly 200,000 new jobs expected.

Under and over

It has been a real tug-of-war in the bond and mortgage market. Over the last week, the "higher [rates] for longer" team has been winning, with strong jobs data and "we're in no rush to cut" commentary from Fed members helping to send average 30-yr mortgage rates back above 7%. The residential real estate market, meanwhile, seems to be shrugging higher rates off. [Mortgage News Daily]

Prices spring forward early

After two months of slight (0.1% month-over-month) decreases, CoreLogic's national Home Price Index jumped 0.7% MoM in February, way above their own expectations. CoreLogic now expects +3.1% price growth over the next 12 months. A few months ago, they were only looking for +2.5%. The spring selling season is basically here. Are you ready? [CoreLogic, S&P Global]

Local Market Trends

As of Friday, April 5, 2024

 

This week the median list price for Maricopa County, AZ is $620,000 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has held steady at or around 9,287.

Area	Median Price	Active Listings	New Listings - 5 days	Median Days on Market
85086	$749,900 -0.1%	167 0.2%	22	35 -0.4%
85255	$1,999,995 0%	365 0.1%	22	70 0.1%
85383	$677,000 -0.1%	354 0.6%	29	36 -0.4%
85254	$1,011,900 0%	172 0.2%	16	35 -0.1%

Local Market Trends (/) from Feb. to Apr. 2024.

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©ListReports 2024, all rights reserved. This information is from third-party sources and its accuracy cannot be guaranteed.