Scottsdale & Phoenix Real Estate Blog

Scottsdale & Phoenix real estate market trends, valuable news about, home prices, short sales, including foreclosure information in the Maricopa county plus much more. 

Dec. 14, 2016

Scottsdale Mortgage Rates

 Most of us favor a high degree of predictability when it comes to things like the interest rates on mortgages. In that realm, “poised” is a bad word. When anything is poised, it means it’s about to do something different: change. For those who like predictability, change is unwelcome.

But this week should provide both good and bad news when it comes to change and Scottsdale mortgage rates. For once, a change in the immediate future is pretty nearly a sure thing. Although rates are poised, they’re poised for a comfortingly predictable change.

What happens after that is a different story.

Up until very recently, the mortgage interest rates offered to Scottsdale home buyers has been an island of calm in a sea of…well, less calm, if the year’s turbulent election cycle is any example. Predictability has been in short supply—except when it comes to mortgage rates.

For a decade, Scottsdale mortgage interest rates have been tucked safely within a snooze-worthy range—right there at the bottom of the charts. No matter how often the experts predicted that a rate rise was imminent, they were proven wrong again and again. Only one time did it happen. The flat line down there at the bottom of the rate charts stayed remarkably flat.

Scottsdale Mortgage Rates

But this week, mortgage rates are poised!

The triggering mechanism for a rate boost is, as always, the Federal Reserve. When it votes to raise its Fed Funds rate, banks pay more for cash; and charge more for access to the money they lend. This isn’t a one-to-one cause and effect, but it’s generally the case. Only once in the past decade did they nudge rates even a quarter of a percent. But even in that instance, for reasons still somewhat mystifying, mortgage rates went down instead of up (before returning to the flatlands).

This week, the Fed is poised to raise rates—but this time it’s all but certain actually to happen. The certainty among analysts made comforting reading for those who relish predictability. MarketWatch headlined “Fed to hike interest rates.”  Forbes didn’t even wait, headlining on Sunday, “Week Ahead on Wall Street: Fed Hikes Rates” as if it were a done deal.

But if a Fed Funds rate hike announcement on Wednesday is knowable, what happens down the road is anything but. As USA Today put it, “The Federal Reserve is virtually certain to raise interest rates this week for the first time this year, but the course of future hikes has suddenly become cloudier.” Bloomberg said, “the pace of monetary tightening is uncertain.”

In other words, the previous certainty that future interest hikes would be slow and deliberate was suddenly in question. Future moves might be more abrupt than anyone thought...or not. For those who favor predictability, after this week, an unsettled future awaits.

One fact that doesn’t depend on what happens down the line is that Scottsdale mortgage rates remain unusually favorable. These are likely to be looked back upon as halcyon days for home buyers and the sellers whose listings showed unusually affordable monthly payment numbers. At least for now, it’s predictably a most opportune time to give me a call!

And as always, If you have any comments, questions or concerns about anything real estate related or you’d like to work with us, give us a call at (480) 332-5659 or visit us at www.RealScottsdaleHomes.com.

 

 

Dec. 7, 2016

Top 9 Showing Offenses for Scottsdale Houses for Sale

Top 9 Showing Offenses for Scottsdale Houses for Sale 

Real estate articles that are really just lists are now being called “listicles”—and there are certainly plenty of them around. The other day one appeared that just had to be read: Bankrate’s “7 things that could turn off home buyers.”

The actual listicle may not have been the product of much real research into houses for sale, but it was amusing. In the best social media tradition, I’d like to add a few thoughts in order to come up with a modified/improved “7 things” (for starters, there are 9):

Scottsdale Houses for Sale

9 Things Bound to Offend Scottsdale Homebuyers

1. Monkeys.

2. All right, that first requires an explanation. It headed up the Bankrate list, with a picture of a rhesus macaque clinging to a balcony railing. I’d have to agree that monkeys freewheeling around a Scottsdale house for sale might drive some potential buyers away. Make number 2: uncaged rabbits. 

3. Animal trophies. Better to pack them up. Dead animals can offend some non-Ernest Hemmingway fans.

4. Flags. I think an American flag is okay, but Confederate flags just get people thinking about controversy instead of the house.  

5. Sports teams memorabilia. This one is questionable, especially in a nicely understated den or TV room. Trash-talking posters, not so much.

6. Nudity. The Bankrate article was describing artwork—the point being that for some home buyers, even tasteful artwork produces a degree of shock value. Universally showable homes strive to avoid shock value.

7. Locked rooms. Bankrate called this phenomenon ‘Mystery rooms’—but the effect is always the same: curiosity that’s not helpful. If the idea is to help potential Scottsdale buyers to picture themselves as owners, a locked door works against the goal.

8. Odors (bad or exotic ones, that is). Our sense of smell is a powerful memory trigger, and if the lingering aroma of a cigar or onions predominates, it could easily make buyers associate the property with something in their past. Whether the “something” is good or bad is anyone’s guess.

9. Owners. Even if the potential buyers turn out to be exactly your kind of people, that too is a distraction from the business at hand. It’s hard enough for buyers to visit a series of properties and remember which place had which features—so it’s a relief for them not to have to go through the social niceties of meeting new people—owners included.

This should be a fairly non-controversial listicle. Once we’ve all agreed that the monkey should step out for a cola with its owners while the showing is in progress, the rest will be easy to accept. For other proven ways to speed your own Scottsdale house for sale into the ‘sold’ category, give me a call anytime! 

And as always, If you have any comments, questions or concerns about anything real estate related or you’d like to work with us, give us a call at (480)332-5659 or visit us at www.RealScottsdaleHomes.com

 

Dec. 6, 2016

For Scottsdale Real Estate, It Looks Like the End of an Epoch

If you listen to the Chairman of the Index Committee at Standard & Poors-Dow Jones, the nation’s housing market has reached an important milestone—one likely to be appreciated by real estate holders—Scottsdale homeowners and investors included. 

The gentleman in the spotlight is David Blitzer, who is the head man when it comes to the S&P Case-Shiller Index, the most widely-respected measure of housing activity.

Mr. Blitzer’s comments were aimed at the latest report, released last Tuesday. It covered three-month price averages for the quarter ending in September. They notched a 5.5% higher average residential price over the previous year. 

Now at this point, Scottsdale real estate observers might wonder what is so newsworthy about yet another appreciation in residential real estate prices? After all, (yawn)—we’ve enjoyed years of Scottsdale real estate price rises. There may have been momentary pauses and even a dip or two, but all have proved to be momentary hitches.  

So, what’s the big deal? 

A couple of things. First, according to MarketWatch, although the reported climb at the end of the quarter was at the upper end of what had been expected, it still put prices “at an all-time high.” It’s hard to argue that all-time highs aren’t significant. But as stock market chart followers know, they can also mark the point at which prices can bounce off a “ceiling.”

That brings up the remarks by Chairman Blitzer, who sees the report’s significance, not in terms of a market top having been hit, but more as a mark that may be remembered as “the start of a new advance.” Quoted in the realestateinvestingtoday website, he cast Tuesday’s report in its likely historical significance. “The new peak set by the S&P Case-Shiller National Index will be seen as marking a shift from the housing recovery.” 

In other words, we’ve probably just passed the end marker for the entire epic of the real estate housing crash. The Wall Street Journal saw it that way, observing that the prices “brought to a close the worst period for the housing market since the Great Depression.” Their accompanying illustration was a stark V-shaped line chart with the title, “Back From the Abyss.” Adding to the probability that the V is behind us was the NAR report of Pending Home Sales. They “squeaked out” a 1.8% rise over the previous year. Since the PHS is a forward-looking indicator, it bodes well for how November will eventually be reported as well.

National momentum like what we are seeing is always a positive for Scottsdale real estate activity. Especially now that mortgage interest rates are beginning to climb, for anyone who has been waiting for a positive sign or two, it certainly does look like an opportune time to give me a call. So…why not give me that call?

Ryan Ney and the My Home Group Team can work closely with you to help you find an ideal place to call home. With so many beautiful places here to choose from, your dream home is available to you here.

 

Dec. 6, 2016

Silverleaf Scottsdale AZ Real Estate

Silverleaf Scottsdale AZ Real Estate. Extremly popular Plan 3 Casita situated on a Premium lot that is walking distance to the Silverleaf Club and backs to a Preserve boasting privacy and City Light Views. Open Space flooplan with zero steps inside the home. Beautiful floor to ceiling sliding glass doors that completely Opens up to the incredible backyard for spectacular indoor/outdoor living. This home in Silverleaf Scottsdale AZ Real Estate home features a spacious Master bedroom, Guest Bedroom, Office that can easily be a 4th bedroom and the original office has been turned into a Media Room. Also featured is a Detached Guest Casita with kitchenette. The backyard is an entertainer''s delight with grass area, outside bar, built-in BBQ, fire pit, spa and sparking negative edge pool with water features. This home must be seen to be truly appreciate. Silverleaf Scottsdale AZ Real Estate.

To view Silverleaf Scottsdale AZ Real Estate Call or Text: Ryan Ney: 480-332-5659 or email at ryan@realscottsdalehomes.com

Dec. 6, 2016

Modern Silverleaf Scottsdale Home for Sale

http://9901eKemperWay.View24Hours.com

For more info and pics, Text "293124" to 79564 

Modern Silverleaf Scottsdale Home for Sale

Check out this Modern Silverleaf Scottsdale Home for Sale. This Modern Silverleaf Scottsdale Home for Sale  is practically brand new and is very lightly lived in. Located in the very desirable Arcadia neighborhood of Silverleaf and situated on a large premium lot boasting incredible mountain views! This home offers a functional open-space floorplan with brilliant Light and Bright high-end finishes throughout.  This Modern Silverleaf Scottsdale Home for Sale Exquisitely designed gourmet kitchen, elaborate downstairs master suite, Control 4, detached guest casita and beautiful hardwood flooring. The spacious backyard of this Modern Silverleaf Scottsdale Home for Sale is an entertainer's delight with very expansive artificial grass areas, incredible outdoor living space with fireplace and built-in BBQ, heated pool & spa, water feature, putting green, basketball court and dog walk. Too many upgrades to be listed and definitely must be seen to be truly appreciated.  This Modern Silverleaf Scottsdale Home for Sale is not to be missed.

To view this Modern Silverleaf Scottsdale Home for Sale  

Call/Text: Ryan Ney @ 480-332-5659 or email at ryan@realscottsdalehomes.com

 

Oct. 19, 2016

New Construction Scottsdale Custom Home

 

New Construction Scottsdale Custom Home

8030 N 74TH Place
Scottsdale, AZ 85258
New Construction Scottsdale Custom Home
Price : $2,499,000
Bedrooms : 6
Bathrooms : 7.00
Square Foot : 6,040
Lot Size : 43,854 sq.ft.
Community : Paradise Valley Farms
County : Maricopa.
Property Type : Single Family
Year Built : 2016
MLS Number : 5463985



click for more information and pictures
Property Description New Construction Scottsdale Custom Home

Looking for a New Construction Scottsdale Custom Home? Not a remodel-- 2016 new build. Check out this stylish, new custom home in the high demand PV Farms neighborhood. Designed and built for real living with open kitchen, living and dining spaces. This New Construction Scottsdale Custom Home is an entertainer''s dream with 10'' ceilings throughout, media room, gourmet kitchen with Wolff and Thermador appliances, butler''s pantry, large island, accordion doors and more. This gorgeous home also has ample room for guests or family with 6 bedrooms, 4 of which have en-suite bathrooms and all have walk-in closets. There is also an additional space off the great room to use as home office, playroom, game room or whatever in this New Construction Scottsdale Custom Home. 3 C schools: Cochise, Cocopah, Chaparral. Horse privileges, close to golf, dining, shopping and more.  Come check out this New Construction Scottsdale Custom Home today!

To view this New Construction Scottsdale Custom Home call or text: Ryan Ney (480)332-5659 or email at ryan@realscottsdalehomes.com

See Full Listing Here

MLS Search

Features List New Construction Scottsdale Custom Home
• New Construction • 6 Bedrooms • 7 Bathrooms
• Acre + Lot • 10' Ceilings • Prof. Appliances
• En-Suite Bathrooms • 3-Car Garage • Horse Privelages
• Cochise Elementary • Cocapah Middle • Chaparral High
• 85258 Zip Code
New Construction Scottsdale Custom Home
Equal Housing Opportunity.

 

 

Oct. 13, 2016

Updated Scottsdale Home with Pool

Updated Scottsdale Home with Pool

5828 E SANDRA Terrace
Scottsdale, AZ 85254
Updated Scottsdale Home with Pool
Price : $629,900
Bedrooms : 3
Bathrooms : 2.50
Square Foot : 2,494
Lot Size : 7,948 sq.ft.
County : .Maricopa.
Property Type : Single Family
Year Built : 1992
MLS Number : 5502685



click for more information and pictures
Updated Scottsdale Home with Pool? Property Description

Are looking for an Updated Scottsdale Home with Pool.  Look no further.  STUNNING REMODEL - RUSTIC MEETS REFINED. Extensively remodeled by Interior Designer. Open & split floor plan ideal for families and entertaining. This Updated Scottsdale Home with Pool features Wide plank wood look tile throughout common areas, Antique white cabinetry, upscale granite & quartz finishes on all countertops. Custom barn door into office. Designer light fixtures throughout. High-end bi-level carpet in all bedrooms. Front and back beautifully landscaped & lighted. Sparkling pebble-tech pool. Ideally located near Kierland Commons, Scottsdale Quarter & Desert Ridge Shopping Centers, Schools, Mayo Clinic & 101 Freeway.  Updated Scottsdale Home with Pool.

Come view this unit in the Updated Scottsdale Home with Pool today.

To view this Updated Scottsdale Home with Pool call or text: Ryan Ney (480)332-5659 or email at ryan@realscottsdalehomes.com

See Full Listing Here

MLS Search

Features List - Updated Scottsdale Home with Pool
• 85254 zip code • White cabinets • Upscale granite
• Quartz counters • Barn doors • Designer fixtures
• New landscaping • Sparking pool • Split floor plan
• Open floor plan • Located near shops • Large lit
Updated Scottsdale Home with Pool
Equal Housing Opportunity.

 

 

Sept. 23, 2016

Housing Availability in Phoenix Increased in August But So Did Demand

 

 

For Buyers:

Buyers looking for larger single family homes under $200K may want to consider the Southwest Valley with 50% of all sales occurring under $185K and an average size of 1,929 square feet. Pinal County provides the largest single family home for the money with an average sale at 2,057 square feet and a median sales price of $154K. The Southwest Valley (which includes Southwest Phoenix, Buckeye, Goodyear, Litchfield Park, Avondale, Tolleson and Laveen) has seen the sales price per square foot for single family homes rise 9.4% since this time last year. Pinal County (which includes Apache Junction, Gold Canyon, San Tan Valley, Florence, Casa Grande and Maricopa) has only seen a 2.6% increase due to more competition from new home subdivisions.  Life is easier for buyers who are looking for homes over $200K, but not by that much.  There’s more supply, but demand is still high in relation to it until the budget gets over $500K where the market is more balanced.

 

For Sellers:

For those who own a condominium or townhome, the shortage of single family supply under $200K is good news.  Sales of condos and townhomes are up 6.1% and the median sale price is up 12.5% from $137,750 last year to $155,000 as of September 7th.  The average sale price per square foot is up 5.3% from $131.85 to $138.87 with the average sized unit purchased at 1,267 square feet.

 

72% of all purchases over the past month have been under $300K, which is why this price point dominates Phoenix Metro overall statistics and projections. Sales between $300K and $500K are up 27.8% over last year, up 8.5% between $500K and $1M and are exactly the same for sales over $1M. Appreciation rates are not as strong in these price points because supply grew alongside demand, keeping the market in a balanced state.

STOP!
 
Be sure to call if you have any questions about this report or about how the market is performing.

Would you like to know what is happening in your neighborhood? 

Would you like to know the value of your home?

Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?

I would be very happy to get you that information.

Just click Reply and let me know.
Aug. 19, 2016

Scottsdale Listings Under Contract up 12%

 

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480-332-5659   Ryan@RealScottsdaleHomes.com    RealScottsdaleHomes.com
   
For Buyers:
If you’ve been frustrated over the past 5 months with high buyer demand for well-priced properties within your price range, you should be seeing some relief now. August is typically a slow time for buyer activity across all price ranges and 2016 is no different. Contracts in escrow began their decline in June, dropping nearly 17% from a high of 13,432 in May to 11,190 by the first week of August.  Active listings have also declined nearly 10%, down to 19,783 since their peak in March at 21,924. At this time of year, many sellers are tired of being on the market, making it a good time to revisit those listings that weren’t picked up during the peak or came on the market late in the season. August is a very slow month for new listings to come on the market, therefore expect inventory to be relatively stale until more new listings start coming on stronger towards late September and October.
 
For Sellers:
Yes, the summer is slow in comparison to the busy Spring season. However, there is a bright side for sellers. While contracts in escrow have seasonally declined 17% since their peak last May, at 11,190 this measure is nearly 12% higher than last year’s count.  Another bright side for sellers is, despite the seasonal slowdown of new contracts in escrow, listings under $400,000 are still getting within 98-99% of their asking price after negotiations.  Nearly 28% of July closings through the MLS included some level of seller-assisted closing costs.  That percentage is highest for listings between $200,000 and $250,000 at nearly 35%, and lowest for listings over $500,000 at under 5%.  Be prepared for weekly price reductions to increase next month as more new listings begin to enter the market.    
STOP!
 
Be sure to call if you have any questions about this report or about how the market is performing.

Would you like to know what is happening in your neighborhood? 

Would you like to know the value of your home?

Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?

I would be very happy to get you that information.

Just click Reply and let me know.
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July 14, 2016

Phoenix's real estate market is back

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480-332-5659    Ryan@RealScottsdaleHomes.com   www.RealScottsdaleHomes.com
   

Phoenix's real estate market is back — and so are the gurus and masters

bizjournals.com

 

What Do Real Estate Pros Look for When It’s Their Turn to Buy?

houselogic.com

 

Featured Listings!

Click pictures for full details.

$2,695,000
10649 E Sundance Trl
Scottsdale, AZ 85262

$2,550,000
8030 N 74th Pl
Scottsdale, AZ 85258

$899,995
4827 E Calle Redonda-
Phoenix, AZ 85018

$699,999
3516 N 34th Pl
Phoenix, AZ 85018

$579,900
22608 N 39th Run
Phoenix, AZ 85050

$569,000
8398 E Verde LN
Scottsdale, AZ 85251

Got Cold Feet About Home Buying? Here’s How to Cope

realtor.com

9 Reasons To Visit A Home At Night Before Buying

realtytimes.com

How Pocket Neighborhoods Inspire

realtormag.realtor.org

Spendin' at the Ritz: Resort sells 91 homes for record $257 million in one week

azcentral.com

The Hottest Home-Improvement Technologies and Trends

diynetwork.com

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