Scottsdale Real Estate Trends, Community News and Events

Aug. 14, 2017

Paradise Valley Home Buyer ISO....Your House?

Paradise Valley Real Estate

 

Are you Ready to Sell your Paradise Valley Estate?

Motivated buyer has exhausted MLS, Buyer is ready, 7500 sq ft or more, 2007 or newer. No west back yard or North of Doubletree and willing to spend up to 5 million.

 

If you are ready to sell or know someone ready to sell their Paradise Valley Estate and would like to discuss your options please call or text Tony Mastricola of HomeSmart Elite Group at 602.750.6195

Aug. 14, 2017

Housing Inventory Hits 30-Year Low

Scottsdale Real Estate

 

Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs.

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”

Overall inventory across the United States is down for the 25th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

Real estate is local.

Market conditions in the starter and trade-up home markets are in line with the median US figures, but conditions in the luxury and premium markets are following an opposite path. Premium homes are staying on the market longer with ample inventory to suggest a buyer’s market.

Bottom Line

Buyers are out in force, and there has never been a better time to move-up to a premium or luxury Scottsdale home. If you are considering selling your starter or trade-up Scottsdale home and moving up this year, let’s get together to discuss the exact conditions in our area.

Posted in Real Estate News
Aug. 14, 2017

Scottsdale Buyers Looking for....

Scottsdale Real Estate Buyers

 

Are you Ready to Sell your Scottsdale Estate?

Here's what they are looking for:

Single level, 3 bedrooms plus den, 4 bathrooms minimum, ideally ensuite   Must have gas cook top, good quality appliances and nice size kitchen with casual dining. Must have formal dining room with little to no living room, only great room. No septic, must be on public sewer. Must have wet bar. Master bathroom must have more than one shower head. Would like central vac and baseboards in home.  Minimum of 3 car garage with additional storage, 30,000 sq. ft. lot or greater.

 The home must be in turn-key condition!  List price not to exceed $1.350,000. In Scottsdale, preferably east side of Scottsdale Road only.

 

If you are ready to sell or know someone ready to sell their Scottsdale Waterfront Estate and would like to discuss your options please call or text Tony Mastricola of HomeSmart Elite Group at 602.750.6195.

Aug. 8, 2017

Buyer Demand Continues Outpacing the Supply of Homes for Sale

Scottsdale Real Estate

 

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS(NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Traffic | MyKCM

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, only 4 states and DC report a ‘strong’ sellers traffic. Meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Seller Traffic | MyKCM

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Posted in Real Estate News
Aug. 8, 2017

Coming Soon To Kierland!!!

Scottsdale Real Estate Kierland

 

Incredible Family Home to Hit the Market Soon!

 

Be the first to see this beautiful family home with 4 bedrooms and 2.5 baths in Kierland for $549,000! 

 

 

Tony Mastricola of HomeSmart Elite Group  602.750.6195  call or text me now to see this house or many other homes that are yet to hit the market!

Aug. 8, 2017

Motivated Buyer ISO Waterfront Property up to $2.5M!!!

Scottsdale Real Estate

 

Are you Ready to Sell your Scottsdale Waterfront Estate?

Motivated buyer in search of a Scottsdale waterfront estate with a pool.  Able to spend $2.5M.

If you are ready to sell or know someone ready to sell their Scottsdale Waterfront Estate and would like to discuss your options please call or text Tony Mastricola of HomeSmart Elite Group at 602.750.6195.

 

 

Aug. 8, 2017

Stunning Camelback Mountain Hillside Estate

 

4960 E Red Rock Dr Phoenix 85018 | $1,850,000 | VIEWS!

 

Be the first to see this stunning estate perched on Camelback Mountain.  City lights and mountain views from all terraces. Coming Soon!

 

Scottsdale Real Estate Coming Soon

 

Tony Mastricola of HomeSmart Elite Group  602.750.6195  call or text me now to see this house or many other homes that are yet to hit the market!

Aug. 8, 2017

Inventory Drops Again, Sales Slow

Scottsdale Real Estate Inventory

Highlights:

  • Existing Home Sales are now at an annual pace of 5.52 million.
  • Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
  • The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains.
Posted in Real Estate News
July 27, 2017

3 Tips to Succeed in Today’s Real Estate Market

 

In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home.

The 3 tips we are going to expand on today come from a recent blog by Trulia entitled, The Skinny on Skinny Inventory. 

1. Be Prepared

“Homebuyers should talk with a lender, real estate agent, and a home inspector BEFORE finding a home to make an offer on.”

Being intentional, pre-approved, and prepared will set you up for the accelerated time tables that come with a highly competitive market. If you are the most prepared buyer interested in a home, if you have already secured financial approval, and if you are ready to move fast, your bid will be that much more attractive to a seller.

2. Think Strategically

“Starter homebuyers don’t have a home to sell and can be flexible on closing dates compared to homebuyers who are also trying to sell at the same time.”

If you are one of the many first-time buyers looking for your dream home, know that being strategic and flexible about closing dates can also help your offer stand out from the rest. But don’t fret if you are a homeowner who will also have to sell your own house first – be upfront about your timeline with your agent and with any offers you make.

3. Seek Out the Ugly Ducklings

“Buyers might consider looking for homes that have been on the market for a while and investigate why. The reasons may be a deal-killer but all it takes is one ugly duckling to turn into a swan.”

Finding a fixer-upper or a home that needs a little love might be your best way to guarantee that you are able to find a home in the neighborhood that you want. The worst house on the best block will go for a steal and offer instant equity once you fix it up!

Bottom Line

In today’s Scottsdale market, full of bidding wars and tough competition, finding ways to stand out from the rest by getting creative will improve your chances of having a home to call your own.

Posted in Buying a Home
July 26, 2017

Thinking of Selling? You Should Act NOW!

Scottsdale Real Estate

 

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:

“Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”

Yun goes on to say:

"Current demand levels indicate sales should be stronger, but it's clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions."

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

Posted in Selling Your Home