Tuesday, November 15, 2022 / by Becky Trujillo
One-by-One, Most Cities in Greater Phoenix Succumb to a Buyer’s Market
44% of October Sales Involve Seller Paid Concessions to Buyer
Greater Phoenix as a whole has been in a balanced market since August but is expected to glide into a buyer’s market by mid-November. Buckeye, Maricopa, and Queen Creek entered a buyer’s market in July. Surprise, Chandler, Gilbert, and Tempe followed in August. Goodyear, Peoria, and Avondale joined in September with Mesa and Goodyear falling in line by October. Phoenix is expected to succumb this month within a matter of days. The only holdouts remain in the Northeast Valley cities of Paradise Valley, Fountain Hills, Cave Creek and Scottsdale.
The 2022 peak of price was achieved in May, which was the result of contracts accepted in late March and April. Starting in June, sales prices revealed their decline in response to mortgage rate increases. At the end of October, the decline in average sales; ...
Wednesday, November 2, 2022 / by Becky Trujillo
*Avondale AZ, Events:
NASCAR Champion Race
*Apache Junction, AZ Events:
Festival of Superstitions 2022 – November 12 from 10am – 5pm
*Mesa AZ, Events:
Downtown Mesa Farmers Market: Every Saturday from 8am – 11am.
Mesa Arts Center:
Bell Bank Park – November Events
*Phoenix, AZ Events:
*Queen Creek, AZ Events:
*Scottsdale, AZ Events:
Thursday, October 20, 2022 / by Becky Trujillo
Fall Brings more than just changing leaves and shorter days, it is an in-between season where you’re finishing up your summer home maintenance tasks. Let’s not forget, winter is right around the corner, too.
October is a great month to check off your fall home maintenance tasks. As our regions transition, you may have a lot of weekend projects you’re trying to get done before peak holiday season begins. This is a great month to finish up outdoor projects before snow or inclement weather begins. Below are some other important tasks to consider this month. If you can’t get to them all, or are unable to do them yourself, please do not hesitate to contact Realty Network Group for a qualified professional!
Inside the home
Insulate exposed pipes that may freeze in the winter. Pay special attention to plumbing and pipes in the garage, crawlspace and basement.
Clean range hood filters, wash fan blades and housing. It’s ...
Monday, October 17, 2022 / by Becky Trujillo
Tapping Out Of Timeshares
When you finally decide to get rid of your timeshare, you’ll quickly learn that it’s not as straightforward as you’d hope. It can be complicated enough that there are scam companies that supposedly specialize in helping people get out of timeshares. Rather than taking the risk of dealing with a scammer, here are two ways to try to get out of a timeshare on your own legally and safely in ways that won’t hurt your credit.
1. Find out if the resort has a “deed-back” program. These allow you to return the deed to the resort, but you’re not selling it—you won’t get any money, and some resorts may even require you to pay a fee to get out of the timeshare.
2. Sell the timeshare. There’s a resale market for timeshares, although you won’t make money this way, either. Unlike other properties, timeshares don’t appreciate in value. Two s. ...
Thursday, October 13, 2022 / by Becky Trujillo
More Buyers Received Help With Closing Costs in September
What To Expect for Housing in the 4th Quarter
The price reductions keep coming. Last week when mortgage rates hit 7.0%, the Greater Phoenix housing market responded with 4,427 price reductions, 24% of all active properties in the MLS. At least 50% of those dropped their price by $12,000 or more.
September saw 1,372 closings involving seller closing cost assistance to the buyer, equating to 23% of MLS sales, with a median concession of $7,000. This is a 334% increase from last June’s count of just 316 sales involving concessions. New home sales through the MLS showed 33% with concessions, and 50% at $10,000 or more. OpenDoor, as a seller, paid concessions on 355 transactions, 77% of their sales through MLS, with 50% costing $6,000 or more.
Closing cost assistance is expected to continue to rise into the 4th quarter as mortgage rates continue to stay high and stifle demand for C ...