Phoenix Real Estate News & Market Trends

 

May 13, 2020

First Time Buyers! Renters! Here's a list of homes under $1,300 a month

surprise arizona homes for sale

Have you thought about buying a home but not sure if you can?

Over 59% of first time buyers and renters think you need 20% down to buy a home and that is simply not the case. We can help strategize how you can buy your home and stops paying rent. It's easier than you think.

Check out all the homes for sale in Surprise, Arizona that you could buy with 3 1/2% or less down and have payments under $1,300 a month.

Click Here to see all the home for sale!

 

Want to learn more about this online before we talk? Check out our short video that gives you details on your can make this happen- Home Buying Process - then let's talk!

 

 

 

Posted in Market Updates
April 21, 2020

What kind of recovery are we going to have?

Will This Economic Crisis Have a V, U, or L-Shaped Recovery?

Will This Economic Crisis Have a V, U, or L-Shaped Recovery? | MyKCM

Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover?

Let’s look at the possibilities. Here are the three types of recoveries that follow most economic slowdowns (the definitions are from the financial glossary at Market Business News):

  • V-shaped recovery: an economic period in which the economy experiences a sharp decline. However, it is also a brief period of decline. There is a clear bottom (called a trough by economists) which does not last long. Then there is a strong recovery.
  • U-shaped recovery: when the decline is more gradual, i.e., less severe. The recovery that follows starts off moderately and then picks up speed. The recovery could last 12-24 months.
  • L-shaped recovery: a steep economic decline followed by a long period with no growth. When an economy is in an L-shaped recovery, getting back to where it was before the decline will take years.

What type of recovery will we see this time?

No one can answer this question with one hundred percent certainty. However, most top financial services firms are calling for a V-shaped recovery. Goldman Sachs, Morgan Stanley, Wells Fargo Securities, and JP Morgan have all recently come out with projections that call for GDP to take a deep dive in the first half of the year but have a strong comeback in the second half.Will This Economic Crisis Have a V, U, or L-Shaped Recovery? | MyKCM

Is there any research on recovery following a pandemic?

There have been two extensive studies done that look at how an economy has recovered from a pandemic in the past. Here are the conclusions they reached:

1. John Burns Consulting:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.”

2. Harvard Business Review:

“It’s worth looking back at history to place the potential impact path of Covid-19 empirically. In fact, V-shapes monopolize the empirical landscape of prior shocks, including epidemics such as SARS, the 1968 H3N2 (“Hong Kong”) flu, 1958 H2N2 (“Asian”) flu, and 1918 Spanish flu.”

The research says we should experience a V-shaped recovery.

Does everyone agree it will be a ‘V’?

No. Some are concerned that, even when businesses are fully operational, the American public may be reluctant to jump right back in.

As Market Business News explains:

“In a typical V-shaped recovery, there is a huge shift in economic activity after the downturn and the trough. Growing consumer demand and spending drive the massive shift in economic activity.”

If consumer demand and spending do not come back as quickly as most expect it will, we may be heading for a U-shaped recovery.

In a message last Thursday, Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank, agrees with other analysts who are expecting a resurgence in the economy later this year:

“We’re forecasting real economic growth of 30% for the U.S. in the 4th quarter of this year and 6.1% in 2021.”

His projection, however, calls for a U-shaped recovery based on concerns that consumers may not rush back in:

“After the steep plunge and bottoming out, a ‘U-shaped’ recovery should begin as consumer confidence slowly returns.”

Bottom Line

The research indicates the recovery will be V-shaped, and most analysts agree. However, no one knows for sure how quickly Americans will get back to “normal” life. We will have to wait and see as the situation unfolds.

Posted in Market Updates
April 16, 2020

What's happening to the Phoenix Real Estate market?

Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many parts of the country.

Let’s look at five things we know about today’s housing market that were different in 2008.

1. Appreciation

When we look at appreciation in the visual below, there’s a big difference between the 6 years prior to the housing crash and the most recent 6-year period of time. Leading up to the crash, we had much higher appreciation in this country than we see today. In fact, the highest level of appreciation most recently is below the lowest level we saw leading up to the crash. Prices have been rising lately, but not at the rate they were climbing back when we had runaway appreciation.Think This Is a Housing Crisis? Think Again. | Keeping Current Matters

2. Mortgage Credit

The Mortgage Credit Availability Index is a monthly measure by the Mortgage Bankers Association that gauges the level of difficulty to secure a loan. The higher the index, the easier it is to get a loan; the lower the index, the harder. Today we’re nowhere near the levels seen before the housing crash when it was very easy to get approved for a mortgage. After the crash, however, lending standards tightened and have remained that way leading up to today.Think This Is a Housing Crisis? Think Again. | Keeping Current Matters

3. Number of Homes for Sale

One of the causes of the housing crash in 2008 was an oversupply of homes for sale. Today, as shown in the next image, we see a much different picture. We don’t have enough homes on the market for the number of people who want to buy them. Across the country, we have less than 6 months of inventory, an undersupply of homes available for interested buyers.Think This Is a Housing Crisis? Think Again. | Keeping Current Matters

4. Use of Home Equity

The chart below shows the difference in how people are accessing the equity in their homes today as compared to 2008. In 2008, consumers were harvesting equity from their homes (through cash-out refinances) and using it to finance their lifestyles. Today, consumers are treating the equity in their homes much more cautiously.Think This Is a Housing Crisis? Think Again. | Keeping Current Matters

5. Home Equity Today

Today, 53.8% of homes across the country have at least 50% equity. In 2008, homeowners walked away when they owed more than what their homes were worth. With the equity homeowners have now, they’re much less likely to walk away from their homes.Think This Is a Housing Crisis? Think Again. | Keeping Current Matters

Bottom Line

The COVID-19 crisis is causing different challenges across the country than the ones we faced in 2008. Back then, we had a housing crisis; today, we face a health crisis. What we know now is that housing is in a much stronger position today than it was in 2008. It is no longer the center of the economic slowdown. Rather, it could be just what helps pull us out of the downturn.

Posted in Real Estate News
April 8, 2020

Best Value Homes in Surprise Arizona

home for sale in surprise arizona

Even during this time of the corona virus we understand there is a need for some people to make a move. We are here to help whether it's doing a virtual walk through on Zoom/Facetime or actually walking through the home we can help.

Here's a list of the best value homes in Surprise that we're built after 2005, are under $250,000 and have at least 3 bedrooms- CLICK HERE!

If you have a need, we're here to help you! Contact your Desert Home Premier agent here at Realty One Group in Surprise and we'll make sure you get the service you deserve, even through these hard times.

 

Posted in Homes For Sale
April 7, 2020

16314 W Tierra Way in Sun City Grand

In this day of social distancing I thought it would be helpful to give you a walk through tour of our listing in Sun City Grand. 16314 W Tierra Way is a Palo Verde model!

 

Description of the home!

Looking for that updated home in Sun City Grand with an open floor plan? This Madera is the one for you then! You'll find the home updated, well maintained and ready for you to move in. From the recently painted exterior, the updated Kitchen, the totally updated Master Bathroom to the beautiful floors you've found your next home. Stepping out back you have a very private home screened by wonderful landscaping offering you many great evenings on the patio with friends enjoying your new life. Come see this home....it does not disappoint!

Feel free to reach out to us about this home or any of the awesome active adult (over 55) communities in Arizona!

 

April 2, 2020

10258 Highwood Dr in Sun City Arizona

Since the Corona Virus has kept some people from visiting the homes I though it would be a good idea to create a virtual walk through so you can see what the home offers before visiting!

 

 

Description: Wow is all I can say! Here's your chance to own an updated Gemini Home (Condo) in Sun City on Willow Brook golf course in Phase 3. This home overlooks several fairways with great views to the north so you can sit on your back patio enjoying a beverage while watching the amazing Arizona sunsets.

Entering through the tiled and covered front Courtyard you'll find an updated Kitchen, beautiful wood flooring, updated bathrooms and much more. Inside laundry and plenty of garage space adds to this wonderful home!

If you're looking for maintenance free living this Gemini Twin home on the golf course then this is exactly what you need to start your new life in Arizona.

 

 

Feb. 19, 2020

Phoenix Real Estate Housing Valuation Report

The Phoneix Real Estate Market Report for Jan. 2020

If you'd like more information about this report or specific cities/neighborhoods feel free to reach out to your Desert Home Premier Team agent here at Realty One Group.
You can also get your free copy of the full report by downloading it here - Click Here!
Posted in Market Updates
Jan. 20, 2020

December 2019 Real Estate Report

Great news for homeowners in Phoenix...Not so good for those waiting to buy a home!

 

 

As you just viewed the real estate market in Phoenix has continued to be very strong and returns of 10% year over year. If you'd like us to run information about a local city or community just reach out to your Desert Home Premier Team agent and they would be happy to help!

Also ask your agent about a copy of the full report!

 

Posted in Market Updates
Dec. 18, 2019

November 2019 Phoenix Real Estate Report

Here's our November 2019 real estate report!  Things are certainly moving along here in Phoenix.

 

If you'd like the full report please feel free to reach out to your Desert Home Premier agent or click here!
Posted in Market Updates
Dec. 18, 2019

Get Your House Ready To Sell This Winter

Posted in Real Estate News