There’s good news in the Scottsdale housing market: the Average Sales Price has risen by 1% to a comfortable $1,362,950, equating to a $451 Average Price Per Square Foot. Additionally, inventory has decreased to 3.83 months’ worth of properties for sale, signaling a move toward a balanced market. While mortgage rates have hovered above 7%, […]
The Metro Phoenix market saw a 3% drop in the Average Sales Price, now at $965,455, leading to a $357 Average Price Per Square Foot. Inventory increased slightly to 3.47 month’s worth of properties for sale. When the 30-year fixed mortgage rate stays above 7%, demand for resale homes is so weak that more is […]
Selling a home is a large financial transaction that involves a written contract with legal obligations that must be fulfilled. As a result of this, the terms of a property contract are very black and white and there is rarely room for negotiation. Sellers are subject to penalties under contract law, so make sure you […]
What Are Fiduciary Responsibilities and How Do They Relate to The Home Buying Process? We can explain! When purchasing a new home, it’s typical to hire a real estate agent who can provide representation and counsel with fiduciary responsibility to you throughout the home buying process. Fiduciary responsibility means that your agent acts as a […]
The rising tide of home prices in the United States has prompted a scramble for answers, and one factor often thrust into the spotlight is the influence of Airbnb short-term rentals. This contentious issue resonates strongly in the housing markets of Scottsdale and Phoenix, Arizona. While these rentals seem the apparent culprit behind housing shortages, […]
June was a little low with single-family New Home sales, but July bounced back with a 4.4% jump upwards! Median sale prices took a 12.1% dip from the high last year, which is certainly good news for Buyers. Existing home sales were slightly down, retreating by 2.2% from June to July. Why, you ask? The […]
Homebuying is an exhilarating journey, but it’s not without its challenges. One pivotal juncture in this process is the home inspection. Unfortunately, this step often gets a bad rap, with misconceptions swirling around it like a cloud of uncertainty. Home inspections aren’t the deal killers they’re made out to be. They’re the truth-tellers, the enlighteners, […]
While the closing process of a real estate transaction is not the most glamorous part of the process, it’s imperative that you know the role you need to play in the process in order for the deal to go through. Do not rely on your real estate agent or the team of closing professionals to […]
The Scottsdale housing market for July 2023 indicates a decline in sold listings and average sales prices for the 2nd consecutive month, with an increase in inventory. However, U.S. property values are up in all regions except for the West and Mountain, which serve as lead indicators for market trends. It remains to be seen […]
The Metro-Phoenix housing market for July 2023 indicates a decline in sold listings and average sales prices for the 2nd consecutive month, with an increase in inventory. However, U.S. property values are up in all regions except for the West and Mountain, which serve as lead indicators for market trends. It remains to be seen […]
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