RV Gates and RV Parking at my Dream Home

February 20th, 2019

The home of my dreams has an rv gate. Surely I can park my rv there right?!?!? This is the number ONE question I get from out of state buyers that have an RV. “Well. if I can’t park my RV why do they advertise an RV gate”. Great question! Unfortunately more often then not, the answer is no! The rules are you can park any toy, boat, car etc as long as it doesn’t show over the fence line. Luckily for you, our team knows all the neighborhoods in the west valley that WILL allow you to park an RV. Additionally, if the neighborhood does not allow RV parking we know the closest location that you can store your RV. There are a handful of neighborhoods that have an HOA (Homeowners Association) and allow RV parking. Many of the neighborhoods that allow RV parking are not in an HOA area.

HOA’s can be positive or negative. The short version is HOA neighborhoods have a lot of control and in turn they make sure your neighbors cannot paint their house any color of the rainbow they want without permission. They also regulate any improvements a homeowner would like to do (aka an extended driveway, a front porch, really anything architectural). Additionally they provide and maintain community features such as parks, sports courts and walkways.

There are stats that show neighborhoods that are in an HOA hold their value or increase in value faster. Another category (which you definitely need a neighborhood expert for) are neighborhoods that are not in an HOA but they still take care of their properties. This is really important. If your agent suggests a neighborhood, drive that neighborhood during the day, at night and on a weekend day. Pull over and talk to a neighbor. Ask questions. Does your agent live in that area? If not how many homes have they sold in that area (aka are they a neighborhood expert). To summarize, interview your agent. Their knowledge will make a huge difference in transaction. And I challenge you to interview myself and the Jennifer Sanchez Team. We will blow your mind and educate you with as much knowledge as we can. We realize your home is one of the largest investments of your life and we take it seriously. We can’t wait to hear from you!

Author: Stephanie Hunt, is a long time buyers’ specialist for the Jennifer Sanchez Team at Keller Williams Professional Partners and can be reached at 623-229-0416.

Phoenix West Valley Real Estate Market Report by City- January 2019

February 16th, 2019
How’s the Market?
Heres your West Valley Market update for January 2019. It’s a great time to be a homeowner as median home prices continue to increase in all West Valley cities, starting 2019 off strong.
El Mirage had the largest increase over Jan 2018 with 14.24% increase, Buckeye 13.60% increase, Goodyear up 11.18%, Phoenix 11.18%, all other cities also showed increases. Inventory levels remain scarcely low and homes did take a little longer to sell. Many cities took a slight dip in the amount of closed transactions, Maricopa County was down -11.9% of January 2018. While most cities in the West Valley showed a slight decrease in closed sales, Tolleson Laveen, Goodyear all had an increase over last year.
Market Insights: We are definitely seeing positive ROI when sellers are willing and able to do improvements to their properties prior to market, meaning paint, cleaning or replacing carpets. I have always told my sellers “Nobody want to buy your house, they are looking for their New Home!” Staged, clean, market ready homes are selling faster and for more than their competition.
Thinking about selling? Call us today and we can explore your options for selling; cash investor-pick your closing date-no hassle, home improvements that will bring you the highest net return and we can help you facilitate the work! 
Call us today and let us show you how easy it can be done!
Thinking of Buying, please give us a call and ask about our free down payment programs!

West Valley Real Estate Market Report for the Phoenix Area December 2018

January 5th, 2019

How’s the Market? Heres your West Valley Market update for December 2018. Happy New Year everyone!! Hope you had safe, healthy and happy holidays! As the year came to an end, I thought I would do this month’s update a little differently with a short snap shot of each West Valley city and how each city finished up the year. 

AVONDALE: 

Median home price increased 6.71% from $212,500 in 2017 to $226,500 for 2018. Closed sales were down -6.5% over last year, 1334 closed 2018 versus 1428 in 2017. Inventory was down -8.33% from 2017.

BUCKEYE:

Median Home price increased 10.87% from $200,950 in 2017 to $222,800 for 2018. Closed sales were increased over last year by 11.6%, 2775 closed 2018 versus 2486 in 2017. Inventory was down -27.70 from 2017.

El MIRAGE:

Median home price increased 9.75% from $197,000 in 2017 to $199,500 for 2018. Closed sales were down -6.2% over last year, 592 closed 2018 versus 631 in 2017. Inventory was down -6.19% from 2017.

GLENDALE:

Median home price increased 6.82% from $220,000 in 2017 to $235,000 for 2018. Closed sales were down -9.4% over last year, 4391 closed 2018 versus 4464 in 2017. Inventory was down -9.4% from 2017.

GOODYEAR:

Median home price increased 7.53% from $260,500 in 2017 to $280,108 for 2018. Closed sales increase 2.9% compared to last year, 2100 closed 2018 versus 2041 in 2017. Inventory was practically flat 0.38% compared to 2017.

LAVEEN:

Median home price increased 11.64% from $217,000 in 2017 to $242,250 for 2018. Closed sales were down -6.3% over last year, 844 closed 2018 versus 901 in 2017. Inventory was down -11.56% from 2017.

LITCHFIELD PARK:

Median home price increased 11.31% from $283,000 in 2017 to $315,000 for 2018. Closed sales increased 11.3% over last year, 779 closed 2018 versus 691 in 2017. Inventory was down -2.17% from 2017.

PEORIA:

Median home price increased 9.43% from $265,000 in 2017 to $290,000 for 2018. Closed sales were down -6.5% over last year, 1334 closed 2018 versus 1428 in 2017. Inventory was down -5.49% from 2017.

PHOENIX:

Median home price increased 8.89% from $225,000 in 2017 to $245,000 for 2018. Closed sales were  nearly flat with last year at 0.3%, with 21,917 closed 2018 versus 21,845 in 2017. Inventory was down -13.62% from 2017.

SURPRISE:

Median home price increased 9.03% from $227,000 in 2017 to $247,500 for 2018. Closed sales were down slightly -0.9% over last year, 3909 closed 2018 versus 3946 in 2017. Inventory was down -13.62% from 2017.

TOLLESON:

Median home price increased 10.00% from $200,00 in 2017 to $220,000 for 2018. Closed sales were up 3.7%% over last year, 651 closed 2018 versus 628 in 2017. Inventory was down -4.43% from 2017.

MARICOPA COUNTY:

Median home price increased 8.33% from $240,000 in 2017 to $260,000 for 2018. Closed sales were down pretty much flat over last year, 95,830 closed 2018 versus 95,825 in 2017. Inventory was down -12.69% from 2017.

So all in all, sales were a little down in most West Valley cities, however the prices have continued on a normal steady increase. This is the type of increase we want to see, normal rise with inflation. Given the “Slim Pickens” with listing inventory, the sales held pretty strong. All cities including Maricopa county had much less inventory for sale in 2018 versus 2017. 

Best of all for several years now the market has continued to prove its corrected itself and is where it needs to be STABLE & STEADY. We also saw homes sitting on the market that were not as I call it, “ready for market.” Buyers expectations of homes remained high, they want a home that is move in ready, fresh paint and nice updates, those homes sold quickly and most of the time with multiple offers, it still wasn’t the bidding wars of the early 2000’s driving homes to unaffordable prices. 

As we enter into 2019, I will keep you posted monthly on the West Valley Market Trends, if you would like a complimentary detailed Market Analysis on your property, feel free to call, text or email anytime.

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Phoenix West Valley Real Estate Market Report by City- November 2018

December 8th, 2018

How’s the Market? Here is the November 2018, West Valley Market Report. Hope everyone had a Happy Thanksgiving! I am thankful to you all that median home prices held strong last month, as all West Valley cities reported an increase, or held strong with year to date home median prices reported last month. Inventory levels remain critically low, which as decreased closed transactions. Litchfield Park had the highest increase over last year at +4.1% setting them at +13.0% increase over 2017. Followed by Surprise at 3.1% over same month last year, landing them nearly flat with sales in 2017. Tolleson was flat with November 2017 and still up +3.8% year to date. All other cities so a significant reduction in closed transactions, El Mirage -25.4%, Avondale -19.1%, Peoria -16%,  Laveen -14.1%, Glendale -9.7%, Phoenix -7.72%, Goodyear -3.3% and Buckeye -2.1% and Maricopa County -7.8%.  Oddly enough with slow sales, the average days on market is steadily decreasing, meaning the few homes that are listed each month, priced right and looking good are selling quick, which is why the prices have continued to increase month after month.

 
Market insights: We continue to see a lot of contracts with contingetcy on Buyers needing to sell their home. We are seeing lots of reloctiaons, California, Washington, Illinois  and Indiana seem to be leading that pack. We are also seeing a lot of investors still buying home to rent out. As well as “future retire” purchases, were the home, this is were we lease the home for a few years until the buyer retires and relocates to AZ to live in the home. Rental market continues to thrive as many “future buyers” are relocating and just trying to get their bearings down as to where in the Valley of the Sun they would like to purchase.
 
Have you ever wanted to own your own investment property? Call us today and let us show you how easy it can be done and our worry-free program. In most cases our Buyers are not even making a first mortgage payment, as we are a full service team, we find the tenant and protect your investment for you.
Thinking of Buying or Selling, please give us a call we would love to help you!

Phoenix West Valley Real Estate Market Report November 2018

November 10th, 2018

How’s the Market? Here is the October 2018, West Valley Market Report. Happy Fall!! Steady as she goes. Our Real Estate market continues to prove that month after month, we are definitely not in another housing BOOM. Buyers are not overriding or settling for just anything. The bar is raised and buyers want homes that look nice at frat market value, homes hitting the market ready to sell are sell in the first 30-45 days, while over priced homes are forced to lower or sit on the market. Low inventory continues to drive home prices in a nice steady upward movement, “safety nets” in place, meaning the strict regulations with the appraisal industry is not allowing a sky rocket of home values like we saw in 2004-2007. 

 

A few cities came up short in sales over last year, El Mirage -32.8% although you have to also take in to consideration that there is nearly nothing for sale there, inventory of 1.62 months doesnt give buyers much to choose from. Buckeye has down -19.7% over last year, Tolleson -4.2%, Avondale -2.0%, Goodyear -1.2%, Phoenix was flat with last year and Maricopa County was -1.2% down. Slower sales didn’t effect home values as ALL West Valley cities has increases in the Median home prices over October last year.

 
We are still seeing a lot of contingent offers to allow buyers to sell their existing home. Which makes sense, as most people don’t want to sell their home until they know where they are moving to. 
 
We are a full service real estate team, we would love to help you with all your real estate needs. Thinking of Buying or Selling, please give us a call we would love to help you!

Phoenix West Valley Market Report by City September 2018

October 6th, 2018

How’s the Market? Here is the September 2018, West Valley Market Report. As we head into cooler temps October is seasonally  consider the beginning of peak season for real estate in AZ. As winter visitors return and folks dreading the snow and ice decide to relocate to our beautiful city. We will for sure be welcoming buyers back into the market as Septembers closed sales took quite a dip compared to last year. El Mirage was the hardest hit with -39.3% compared to Sept 2017, followed by Phoenix -35.8%, Avondale -32.3%, Glendale -32.2%, Buckeye -31.5%, Goodyear -25.6%, Peoria -23.8%, Surprise -20.2%, Tolleson -13.0%, Litchfield Park -10.09%, and Laven was flat with last year. Maricopa county overall reported -6.1% in closed sales over last year.

 
Is this dip in real estate sales an indicator of a shift in the market? Its definitely something to keep our eyes on. Another indicator of a drop in closed sales could also be the low inventory, as all West Valley cities are still incredibly low inventory levels. When there isn’t much for buyers to buy, we could still have a lot of buyers sitting on the side lines waiting for that perfect home to come on the market. With that said another stat to consider is new listings, only two cities had an increase in new listings over last year, that being Litchfield Park 17.7%, and Laveen 10.4% increase. All other cities were significantly less than last year. El Mirage -30.2%, Avondale -21.1%, Tolleson -25.4%, Litchfield Park -17.7%, Peoria -7.0%, Glendale -6.5%, Buckeye -4.6%, Phoenix -2.7%, Goodyear and Surprise are almost flat with last year. New listings taken in Maricopa county is down -5.8% over some month last year.
 
However, even with the low homes sales, low inventory, we did see the average days on market drop in just about all West Valley cities. That means homes going on the market, priced right and staged to sell are selling in under 40 days. We also saw many cities have a decrease in Median home prices.
 
 We will continue to watch these critical numbers to see if the real estate market is heading for a shift. Enjoy the gorgeous weather, we will see what October brings!
 
We are a full service real estate team, we would love to help you with all your real estate needs. Thinking of Buying or Selling, please give us a call we would love to help you!

Phoenix West Valley Real Estate Market Report for August 2018

September 8th, 2018

How’s the Market? Here is the August 2018, West Valley Market Report. High temps didn’t keep buyers away for finding their dream homes in Buckeye, incredible  26.7% increase in sales over last year! Goodyear had a 6.1% increase and Laveen was up 3.9% and Phoenix also increased sales over last year by 3%. El Mirage report -36.1% decrease in closed translation over  last year, however they also have the lowest amount of supply at only 0.97 months, making it incredibly hard to find a home so sale in the entire city right now. Other West Valley cities also report a decrease in closed sales over last year, Surprise -6.6%, Peoria -6.5%, Glendale -4.4%, Litchfield Park -3.0%. Maricopa county over all came in almost flat with last year at -0.1% compared to August 2017. 

 
Market Insights: Low amounts of homes for sale continue to be main factor in the decrease in resale homes. The lack of homes  for sale continues to drive the New Home sales market to double and triple digit increases in sales. We are starting to see incredible incentives from the builders, along with loan closing cost bonus to the buyers. Many of the new home builders have lots of quick move in, inventory homes without the long build time, really great deals on these homes!
 
Real Estate Myths: Since we are discussing New home builders, a common myth we were is that I don’t need an agent representing me, I am working with the sales rep in the models. Keep in mind, this sale agent works for the builder, to get them the most amount of money on the home. They are not looking out for your best interest. Just like purchasing a resale home, it doesnt cost you anything to have Buyers representation. In fact it may cost you more by not having a negotiator on your side. You need an advisor helping you through out the process, inspections, loan closing fees, upgrades you put into the home. Thats what we do for you, working with the sales agent only saves the builder commissions, it doesn’t save you anything and could be paying way to much. 
We are a full service real estate team, we would love to help you with all your real estate needs. Thinking of Buying or Selling, please give us a call we would love to help you!

Thinking of Selling? We Now Have Two Options! Introducing Offer NOW

August 22nd, 2018

You’ve seen the ads on television, and maybe you’ve seen the billboards around town offering sellers a no hassle, no showing, close when you want option to sell your home. These firms have been around the last several years and have raised millions from investors to create their footprint in multiple states. We’ve competed successfully with these companies as we know selling your home in a traditional method will net sellers more money, but let’s face it, these firms are obviously filling a need. Some sellers need to sell fast for whatever reason and allowing their home to sell for less money, or at a wholesale price is a viable option for them.

We now have an option for these sellers called Offer NOW! We will buy your home now, total convenience, no showings with a flexible move out date. If you are in the situation where you want to sell fast without showings, fixing things up etc. we might just have what you are looking for in this new option.

But perhaps, the biggest benefit of our service is that you will have both options. We can provide you an Offer NOW price and the traditional retail price. You can look at the prices and data and decide which is best for you. Or maybe you start with the traditional retail method to make more money and fall back on the Offer NOW program if or when you need to. The other companies can’t offer this flexibility.

So how do you get more info? It’s easy, simply follow this link to get additional information and fill out a simple form. We will crunch the numbers and let you know your options, what to expect, and the process involved. Of course there is no obligation, simply allow us to educate you on the options so you can decide what if anything is best for you.

Feel free to contact us via phone if you’d like to discuss a little more.

Common Myths about Real Estate

August 13th, 2018

Over and over again, we hear the same questions, statements and hearsay, well I would like to set the record straight on a few Common Myths of Real Estate. Some of these were covered in our “How’s the Market” West Valley monthly market update, so just incase you missed it, here are the top 5 most common myths of real estate all right here for you.

MYTH: Buyers Market is the Best time to Buy a home: Makes sense doesn’t it? After all in a Buyer’s market, sellers would be more motivated to give you a better deal right?!? While that may be true, its also true for all the other buyers purchasing, which means prices could be stagnant of depreciating. The real estate market is driven by supply and demand, low supplies cause price to increase, while high supplies drive prices down. So you buy a home in a depreciating market, month after month your home could be loosing value, why would you want to buy a depreciating asset? When you become a homeowner what you really want is stable increasing market, which would be a Sellers Market. Thats a much better feeling when the home you purchase 1 year ago is worth $20,000 more than you bought it for than $20,000 less.

MYTH: Buying through the Listing agent saves the Buyer money: When the listing agreement is executed, the Seller and Agent enter into a Fiduciary agreement in where through agency relationship, the agent agrees to put the sellers best interest first & get the most amount of money for the seller the market will allow. The Seller’s agree to pay a set amount of commission in the listing agreement. The listing agent agrees to pay the buyers agent a portion of that commission, which means if they sell you the home, they get all the commission. Which also becomes limited representation for both buyer and seller, so you have to ask yourself, if Buyer and Seller are getting limited representation and the agent is getting twice the amount of commission, who is really getting the best deal here? Do you think that agent is going to do aggressive comps and try to get the home for a better deal for you? What about repairs, who’s side are they on? What if the agent agreed to take less commission if he procures a buyer, thats just a savings for the seller, not you as a buyer.

MYTH: Solar Panels add Value:  Although this is what the solar companies use as a sales pitch, there is a huge caveat here, the panels must be owned, not leased in order to add value. I don’t recommend purchasing solar as an investment thinking its adding value, the added value is no where near the price of purchasing panels. The most I have seen on an appraisal was $10,000 for very large unit that the homeowner purchased for $45,000. On average there is an added value of about $5,000 on owned panels. Leased Panels, not only have no value, they could hurt value.  Several reasons, one being we see lots of damage to roofs, in many cases the Homeowners insurance will not cover. Many buyers don’t want to take over the contracts. Some buyers don’t qualify to take over lease payments, as they count against the buyers debt to income ratio where electricity does not. Probably the biggest reason leased solar panels hurt a property value is that it eliminates many of the buyers in todays market. Investors, Snow Birds and Buyers looking to buy their future retirement home will not want solar payments year round. As well as the aforementioned, buyers tight on debt to income ratios.

MYTH: Pools give $10,000-$20,000 Value: I always joke that selling pools is my summer job, however these days it seems year round, home buyers are wanting pools. The hottest commodity on todays market seems to be single level with a pool is in all sizes and price ranges, not to say that two stories with pools aren’t also highly requested, pools in the Phoenix market have a much higher return than you would think.  In fact when evaluating homes with pools, I try to use only comps with pools, because many buyers will only look at homes with pools. Check out a comparison in the MLS of some random size homes sold with and without pools and see for yourself. 

 

Surprise:

Single level, 2000 square foot, average price, without pool  $241,420, with pool $272,680 (+ $31,260)

Two story, 2800 square foot, average price, without pool $281,961 with pool $321,230 (+ $39,269)

 

Goodyear:

Single Level, 2400 square foot, average price, without pool $302,796, with pool $331,058 (+ $28,262)

Two story, 2800 square foot, average price without pool $282,053, with pool $317,710 (+ $35,657)

 

Peoria:

Single level, 2400 square foot, average price, without pool $350,261, with pool $429,833 (+ $79,572)

Two Story, 2800 square foot, average price, without pool $330,338 with pool $367,887 (+ $37,549)

MYTH: I can get the value of my home from an Auto Value site like Zillow’s Zestitmate: There are several reasons why you should not rely on automated evaluation. One reason is very simply, not all homes sales are reported to these sites. The county assessors office doesn’t share an internet data exchange with companies like Zillow. They rely mostly on agents to verify past sales. I can tell you that very few agents, report all the sales to Zillow. So you could have a higher end sales comparable in your area that isn’t even being factored into the equation. Another thing to consider is location within the neighborhood, for example one home backing to the main street might sell for less than interior lot. It could have sold for less because inferior view, curb appeal, repairs  were needed, stigmatized property, and many other things that determine a homes value can not be recognized by computer calculated system. Supply and Demand, perhaps your the only home with a pool, this might mean you could ask for more than your  neighborhood comps. We see poor quality photos, messy homes- untagged homes, less than desirable floor plan, limited showing availability to the property, cat urine, cigarette smoke, high selling season or slow market time, a lot of reasons that could have caused a home to sell for under market value and all these things can not be factored into an automated evaluation system. As your real estate professional we look for all these things in order to suggest a marketable price for your property, its not as simple as price per square foot and previously sold homes in your area.

Phoenix West Valley Real Estate Market Report by City- July 2018

August 13th, 2018

How’s the Market? Here is the July 2018, West Valley Market Report. What about this Monsoon season, Wow!! Recorded breaking temperatures, crazy Haboobs and strong winds knocking trees down all over town!! Got to love summers in Phoenix, on a positive note traffic is light and grocery store lines are short! Enjoy it folks! As kids head back to school we tend to see an up swing in the market and of course once the temps cool down in mid-September and winter visitors are back. 

 
However this month several cities saw a nice up kick already. Now keep in mind 30 day closings, so these are homes that most likely went under contract in June. Maricopa county had a 3% increase in closed sales over last year. Buckeye was booming with 20.3% increase, followed by Litchfield Park up 17.9%, El Mirage up 11.2%, Goodyear up 3.4%, Phoenix up 3.1%, Tolleson up 2.6%, Glendale 2.1% and Surprise, Peoria flat with last year. Couple of cities took a hit, Laveen -11.2% and Avondale -5.3%.
 
Inventory levels took a slight dip this month, listing should pick up also as kids go back to school. Median home prices in Maricopa are up 9.50% over last year. Litchfield Park leading the pack in the West Valley last month with an 18.90% increase, Peoria 14.50%, Goodyear 13.06%, Tolleson 12.44%, El Mirage 12.22%, Surprise 10.85%, Phoenix 9.65%, Glendale 8.0%, Buckeye 7.48%, Laveen 7.47%, and Avondale 4.65%.
 
Market Myths: Sellers market doesnt mean that we are experiencing another boom. Our buyers are still getting some great deals out there. Sellers are still paying closing costs and repairs. This is definitely not the market we experienced in 2005 Boom!! We are not going to experience a surge in home values. With all the new regulations on the appraisal industry, it has for lack of better words, “capped” home equity. Think of it as a safety net, steady increases, to keep housing in line with wages and cost of living. Stability. 
 
Market Insights: We are still seeing a lot of folks looking to retire to AZ in the next 2-5 years purchasing homes now. Locking in today’s home prices and interest rates to secure their future retirement home.  This is such a smart move for these folks, as they are not even making the mortage payments as our Property Management team is here to secure tenants for these homes. If this is something you’d like more information on call us today!!
Buying, Selling or Investing… we are your full service Real Estate Team.