Want the Inside Scoop on the Phoenix Housing Market?

According to the latest reports from Mr. Michael Orr with  ASU’s W.P. Carey School and The Cromford Report and Mr. Tom Ruff, real-estate analyst with The Information Market owned by ARMLS, Phoenix has recovered 65% from the housing debacle. Homeowners that purchased before May of 2004 and did not refinance between 2005-2009 should have equity in their homes. In 2009, 50% of Phoenix homeowners were under water. That number has dropped to 19%!

Our inventory here in Phoenix is now considered normal, meaning we have about 30,000 homes and condos listed for sale in the MLS. This year has been a slow market as our demand is way down from California, Canada, and investors. Millennials, the age group for 18-35, are renting or have moved back with Mom and Dad. Before the crash, everyone wanted to own a home. Now they want to have the freedom to travel and change jobs and cities easily.

Of course there is no way to know when our market will pick up but traditionally the best time to sell in Phoenix is January through June or even July. We are confident that 2015 will usher in buyers that have been holding back for whatever reason as well as the 50,000 plus folks that were foreclosed on and now can buy again.

If you want to know more about our market or your neighborhood/zip code in particular, Please do not hesitate to call. Pass this information to your family and friends to give them the scoop on the national and local housing markets!

Congrats to our August Buyers & Sellers

When trust is high between clients and agents, wonderful results happen! Amy and Derrick Pauling moved to Texas and a year later decided to sell their beautiful Scottsdale home. Their tenant lived “comfortably” in the home and it showed! After arranging landscape clean-up, home repairs, heavy duty cleaning, and navigating through a new FEMA flood zone designation, it sold! And they never had to return to Phoenix for any of it, although Amy did light a lot of candles and maintain steady prayers for weeks! We are sorry they are staying in Texas but we are honored that they placed their trust in us to get them results. And our thanks for referring Ashley! We will take good care of her, too! Our best to the Paulings; it has been a pleasure being your agents!

How many contracts does it take to get Peg and Rick Johnson a home in Glendale? The third house was the charm! Our thanks to them for keeping the faith, maintaining their sense of humor, and not being discouraged every time they lost a house to another buyer! They now have a lovely home and Peg can send photos back east in January when she is floating in her beautiful pool with the Arizona sun overhead! Our congratulations to them both and our wishes for many happy years here with children and grandchildren!

After one year in his lovely Piestewa Peak home, Joe Enright decided to sell. Although we met him just last year as our buyer, he called us to help him through the sales process. It only took three weeks to find a cash buyer and help Joe move on to a new phase of his life. We are so happy that we were able to be a part of his transition and we wish him the very best with his children and his new home! May health and happiness always be a part of his life!