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REALTORS® Reported Stronger Housing Demand Amid Tight Supply in 2016.

Jan 25, 2017

REALTORS® reported stronger homebuying demand in 2016 compared to 2015, according to the December 2016 REALTORS® Confidence Index Survey Report, a monthly survey of REALTORS® about their sales activity and local market conditions.[1] For the year 2016, the REALTORS® Buyer Traffic Index registered at 63 (60 in 2015), indicating that more respondents viewed buyer traffic conditions as “strong” rather than “weak.”[2] Homebuying demand is likely being bolstered by sustained job and income growth, with approximately six million net jobs gained since the recession that ended in 2009.REALTORS® reported stronger homebuying demand in 2016 compared to 2015, according to the December 2016 REALTORS® Confidence Index Survey Report, a monthly survey of REALTORS® about their sales activity and local market conditions.[1] For the year 2016, the REALTORS® Buyer Traffic Index registered at 63 (60 in 2015), indicating that more respondents viewed buyer traffic conditions as “strong” rather than “weak.”[2] Homebuying demand is likely being bolstered by sustained job and income growth, with approximately six million net jobs gained since the recession that ended in 2009.

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Top Real Estate Markets for 2017: Phoenix Tops the List!

Dec 2, 2016

Strong local economies and population growth fuel the nation’s top housing markets despite a moderate growth forecast overall   according to the economic team at realtor.com.  The Phoenix metropolitan area is forecasted to see a 5.9% price increase and 7.2% sales increase in 2017, much higher than the U.S. overall of 3.9% and 1.9% respectively.  For the full list of 100 markets, check out the realtor.com 2017 housing forecast.

Phoenix Metro Housing Market Update

Aug 9, 2016

The Phoenix Metropolitan area housing market remains healthy in 2016 and still improving over 2015 according to Michael Orr, Director of Real Studies at ASU and Principal of The Cromford Report.  The median sales price overall continues to rise consistent with a market favoring sellers over buyers although there are notable differences based on price range, location and age of the home.

Canadians, investors poised to cash in on Phoenix housing recovery

Aug 7, 2016

Canadians and institutional investors who bought homes in the Phoenix metropolitan area at the bottom of the market could be poised to start selling.  The market has turned for several reasons, including exchange rates between the U.S. and Canadian dollars that have those north of the border looking to unload their properties.  Read more

22417 N 79th Place

Feb 5, 2016

Located in a private gated enclave in Sonoran Hills, this beautiful home sits on a 1 acre lot and features resort-style amenities including cozy outdoor fireplace, heated pool and spa, sport court, putting green, built-in BBQ, fire pit, and grassy play area. From the moment you enter the private gated courtyard, you will notice the casual elegance of this Tuscan inspired home featuring a spacious living and dining room, family room with built-in niches and custom cabinetry, and gourmet kitchen with breakfast bar. The master bedroom is a nice retreat with sitting area and private access to patio and pool. All of this plus four additional ensuite bedrooms and a lounge area located in a separate wing make this a great family home! For detailed information including photos and virtual tour click 22417 N 79th Place and contact Michelle Sarocka at 602.616.4829 or [email protected]

Homeownership More Affordable Than Renting

Jan 8, 2016

Current renters spend roughly 30 percent of their household income on housing; home buyers spend about 15 percent of their monthly income on a mortgage payment for a typical home.

Spending a bigger piece of the income pie on rent makes it hard to save for a down payment.

Although 20 percent is a recommended down payment, the graph below shows that even assuming only 5 percent down and a 6 percent mortgage interest rate, the breakeven horizon is just short of four years, and rental costs are still remarkably higher than homeownership costs by approximately $300,000 over 20 years.

With 5% down and a 6% interest rate, the breakeven horizon is just under 4 years.