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Scottsdale, AZ Real Estate News

By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
As a homeowner, you might understand a little of how real estate works in the state where you own a home.  But what if you were to receive a job offer or decide to move to another state?  Real estate practices differ in each state.  Using a seasoned professional makes a BIG difference in understanding how things work from state to state.     Real estate contracts can be very different from state to state.  This week I'm selling an out of state rental that I own.  The differences in practices, what is expected and the paperwork are vast!    With each event I'm asking questions and in each instance processes are very different.  In Arizona, everything is a process and additional paperwork is created with each change in circumstance, repairs, close of escrow changes and much more.  Whereas...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Low Housing Inventory Is a Sweet Spot for Sellers [INFOGRAPHIC]Some Highlights Today’s housing inventory is still well below more normal years. This low inventory is why homes that are priced right are still selling quickly and seeing multiple offers. If you want to sell your house, now is a great time because inventory is still low. Let’s connect to start the process.
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
Looking for Things to Do in Scottsdale Arizona AND Homes For Sale? You have come to the right place! Visit and hike the cool West Fork Trail and the Oak Creek in Sedona only 90 miles from Scottsdale. Scottsdale and Phoenix are in the center of the state with easy access to the high country and the deserts.There is so much to do in Scottsdale and did I mention the the SUN? Take a hike, play some golf, a jeep tour, art walk, climb Camelback Mountain. However there are plenty of OTHER things to do as well. You may wish to bookmark or save this blog link if you are planning to visit or move to Arizona.... Read on....(Photo: Scottsdale Police and Fire HQ by Jeff Masich)Things to do in Scottsdale and Phoenix MetroI love these "Things To Do in Arizona" focusing on Scottsdale and the Phoenix me...
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By Kelly McQuien, Greater Scottsdale, AZ Home Sales (480) 923-5174
(eXp Realty)
2023 Spectacular 4th of July Fireworks in Scottsdale | Phoenix, Arizona Celebrating Independence Day 2023  As summer heats up in the Valley of the Sun and residents gear up to celebrate its Independence, there is no better way to honor the 4th of July than by witnessing a mesmerizing display of fireworks. The Scottsdale | Phoenix Metro area in Arizona is renowned for its vibrant celebrations, and the annual 4th of July fireworks extravaganza is an event that should not be missed. In this blog post, we will take you on a virtual tour of the region, exploring the best places to enjoy breathtaking pyrotechnics, while also highlighting the rich history and cultural significance behind Independence Day in this part of the country. The Spirit of Independence : The 4th of July holds a special ...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Key Reasons To Use a Real Estate Agent When You Sell [INFOGRAPHIC]Some Highlights An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process. They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved. Let’s connect to ensure you have an expert helping you sell your house successfully.
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Why Homeownership Wins in the Long RunToday’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe buying a home is a safe investment.Here’s a look at how just the hom...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
The True Cost of Selling Your House on Your OwnSelling your house is no simple task. While some homeowners opt to sell their homes on their own, known as a FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re currently considering selling your house on your own, here’s what you should know.The most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing it right, and properly managing the required paperwork, just to name a few.When it comes to selling your most valuable asset, consider the invaluable ...
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By Troy Erickson AZ Realtor (602) 295-6807, Your Chandler, Ahwatukee, and East Valley Realtor
(HomeSmart)
Here is the most recent Scottsdale AZ Real Estate Housing Market Report for May 2023: After decreasing in March, the average sales price of Scottsdale homes has increased two months in a row, going from $1,346,089 in March, to $1,441,145 in May. This is the first time this year that the average sales price of Scottsdale homes has increased two straight months. Click on the image below to read the full article and see what is going on in the Scottsdale Arizona real estate market.   The average price of Scottsdale homes per square foot has increased for the second straight month, going from $436/sf in March to $456/sf in May. The average sold price per square foot in Scottsdale has increased in 3 out of the last 4 months. After remaining exactly the same in February and March, Scottsdale ...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Homeownership Helps Protect You from Inflation [INFOGRAPHIC]Some Highlights Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady. Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months. Especially when inflation is up, having a stable housing payment can be helpful. Let’s connect so you can learn more and start your journey to owning a home today.
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
 - May 2023 Scottsdale Homes for Sale and Home Sales - After a quieter April, May sales activity rebounded. We had seen a higher number of pending contracts in April and it looks like a large number of them closed in May. SCOTTSDALE HOME SALES ACTIVITY – MAY 2023 We track the following sales statuses on a monthly basis: - Single-family homes for sale - Orange Line - How many homes were showing active at the end of the month. - Under contract, but accepting backup offers (UCB) - Gray Line - How many UCB contracts there were at the end of the month.*- Pending home sales - Yellow Line - How many pending contracts there were at the end of the month.*- Home Sales - Blue Line - The number of homes sold during each month. MAY 2023 RESULTS   Scottsdale Homes for Sale: Inventory has been shrinki...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
Each time I meet a new client either as a referral or a sign call, I wonder how long I will know them.   Not how long they will be clients, but how long we'll both be around to enjoy each other's company.  You see, my clients aren't just clients, they're like family.   Yesterday was the second day of an estate sale for a new client.  I met this client who lives across the street from another estate sale and home sale that I processed in March, 2023.  This new client and friend is a retired doctor, Colonel USAF who lost his wife in February of this year.  He's become such a good friend that it's been a joy to help him transition into the next chapter of a different home.  It's a bit nostalgic as I know how old he is;  I'm 21 years younger.  I could be hit by a truck tomorrow but it's mor...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Saving for a Down Payment? Here’s What You Need To Know.If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”And a recent Freddie Mac survey finds:“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of t...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
A Drop in Equity Doesn’t Mean Low EquityYou may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022, equity was impacted. Based on the most recent report from CoreLogic, there was a 0.7% dip in homeowner equity over the last year. However, the headlines reportin...
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By Joyce Tawes, ABR, CRS, CLHMS, CNE
(Live Better in Scottsdale)
 - May 2023 Scottsdale Housing Market Video - Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of May. May 2023 - Video   Scottsdale Active Listings  The number of homes for sale dropped under the 1,000 mark by the end of the month. While this is still 10% higher than where we were last year, we are still in need of inventory. And if you compare the end of May to the end of April, the number of homes for sale was down by 13%.  Median List Price for Scottsdale Homes  The median listing price is a way to get an idea of home prices in a given market. It represents the price at which half of the homes for sale are priced higher and half of the homes for sale are priced lower.Scottsdale's median listing price in May was $1.49 million. Th...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Your Needs Matter More Than Today’s Mortgage RatesIf you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. As Danielle Hale, Chief Economist at Realtor.com, explains:“. . . homeowners who locked in a 30-year fixed rate in the 2-3% range don't necessarily w...
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