Congratulations 1st Quarter Buyers & Sellers

Congratulations to my 1st Quarter buyers and sellers. 

It was such a pleasure to work with each and every one of you!
Thank you for trusting me!

I met Gary Topp at Gammage Theater when I began to attend the Broadway series. We became theater friends and to my delight, Gary approached me to sell his home in Peoria when he decided to move out of Arizona.  Gary worked hard to make it a quick sale and a smooth transaction. Now he splits his time between NYC and Denver. Gary, I love using your fifth row tickets although I miss seeing you at Gammage!

Justin Spencer is a very special client.  I showed Justin my home so that he could see a beautiful example of an updated property in a solid neighborhood. I never thought that he would say, “I want your home!” He also leased it back to me until I could close on my new house, thereby allowing me the opportunity to begin my new life with my children and fiancé. Thank you, Justin, and it is nice to hear that you are enjoying 37th Way as much as I did. It is a great first home!

Congratulations to Brent Bingham for purchasing an investment property in the Biltmore Area. The inspection was a little scary but he persevered and the seller provided a credit to help with the necessary repairs.  It was a pleasure to work this one through to closing. And now I hope to be able to find the perfect tenant when the home is ready!

Congratulations to the Metzler Family on their new home! It’s always so meaningful to work with friends, especially someone I have known since first grade. It has taken several years as we waited for the market to recover and looked for the perfect home for this growing family.  By the time Jack, Kate and Matthew had been added to the clan, they were bursting at the seams!  The small home on Everett sold quickly and the Metzlers found the perfect property not far away. This wasn’t the easiest of escrows with a buyer threatening to back out close to the closing date, but we stayed in contract compliance throughout and made it to the end successfully! Here’s to many wonderful years for them in their new home.

April Real Estate Market

Seller Concessions Have Risen Despite Buyer Frenzy

For Buyers:
Buyers continue to find themselves in a frenzy of competition for homes as March recorded the highest number of non-distressed sales through the MLS since September 2005.  While supply has dropped a significant 12.7% overall compared to this time last year, it’s dropped a whopping 22% in the Southeast Valley and 27% in Pinal County! Despite the extreme lack of supply under $300K, 30% of closings in this price range are showing some form of seller-paid concession at close.  Compare this to 27% in March of last year and it indicates that even as demand and prices are on the rise, a larger percentage of sellers are contributing financially to closing costs, home warranties and repairs in order to get top dollar for their home.

For Sellers:
March 2017 recorded the highest Listing Success Rate for normal listings since July 2005 at 81.8%, which means more homes are coming off the market because they successfully sold and not because they cancelled or expired. In a balanced market, the Listing Success Rate ranges between 60-65% for this time of year.  To compare, the lowest Listing Success Rate was recorded in December 2008 at 21% and the highest was in May 2005 at 87%.

Normal listings between $100K and $200K currently have the highest success rate at 90%, followed closely by the $200K-$300K range at 87% and $300K-$500K at an impressive 79%.  It’s a good time to be a seller!

If you have questions and are interested in a free market analysis of your home or are seeking advice on buying a home in the Phoenix Market, call us today!