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Arizona will have lowest tax rate in 2023

Oct 29, 2022

​Economic Growth ensures Arizona will have the lowest flat tax in 2023

The Arizona state income tax rate beginning January 1, 2023 will be a flat 2.5%, one year earlier than originally anticipated. Gov. Doug Ducey announced the news in a statement last Thursday. “It’s time to deliver lasting tax relief to Arizona families and small businesses so they can keep more of their hard-earned money,” he said.

The governor said the new lower rate is the result of the state’s historic revenue and “unprecedented economic growth.” Indeed, the state is forecast to have a budget surplus of more than $4 billion by 2024, and the Arizona economy is ranked #1 for economic performance.

By AZBigMedia.com

The Market: Housing Market Update for 1Q 2022

May 2, 2022

The Phoenix Housing Market continues to lead the nation in year-over-year home price increases according to national and local housing market economists. The Case-Shiller 20-City Home Price Index for February 2022 showed Phoenix led the nation with a 32.9 percent year-over-year increase in home prices leading all cities in 33 months in a row. This level of price growth indicates broad strength in the housing market although inflation and increasing mortgage rates may start to impact home price appreciation.

The Cromford Report, which follows housing trends in Maricopa county indicated home prices continue to rise. The average price per square foot rose 8.9% in the 1st Quarter of 2022. Home prices are projected to continue to rise at least through June 2022. The increase is driven by investors and less by “owner-occupier” home buyers. The combination of higher home prices, competition from investors and rising interest rates reduce the purchasing power of valley residents.

The Market Update provides a closer look at the 1st Quarter of 2022 key statistics for Phoenix and neighboring cities in the Valley of the Sun.  Read more publications here.

Thinking about selling? Maximizing the value of your real estate investment requires local market expertise and a thorough understanding of how to prepare your home to sell it for the highest price. Contact me today for a private consultation and property valuation while the market is still strong.

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Paint it Black

Dec 16, 2019

Shading your walls in black may not be the first thing that comes to mind when you’re considering paint colors. But black has a daring all its own that can bring character and chicness to your space.  “The result is both unexpected and incredibly sophisticated,” says Andrea Magno, a Benjamin Moore color and design expert.

“Black has an interesting effect on the walls of a room because the corners and shadows are obscured more than if a midtone or pastel color is used,” Magno says. “This can be used as a visual trick to give the space a less-defined appearance and can make a room feel a bit more expansive.”

Black walls can also bring coziness. “Dark walls coupled with dramatic lighting create an instant air of luxury and sumptuousness,” says Karen Howes, CEO and founder of London-based interior-design firm Taylor Howes.

Discover more about how you can leverage black accents in your home from RESIDE® Magazine

2019 Forecast: Existing-Home Sales to Stabilize and Price Growth to Continue

Nov 6, 2018

Consumers should expect home sales to flatten and home prices to continue to increase, though at a slower pace, according to a residential housing and economic forecast session at NAR’s 2018 REALTORS® Conference & Expo .

As Lawrence Yun, chief economist at the National Association of Realtors®, presented his 2019 housing and economic forecast, he was joined onstage by Lisa Sturtevant, President of Lisa Sturtevant & Associates, LLC, who discussed the importance of affordable housing in the U.S.

Much of Yun’s presentation focused on recent declines in home sales, but in the context of long-term trends to illustrate the housing market’s actual performance.

“Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines,” said Yun. “2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years.”