As summer temperatures drop and autumn sets in, Arizona comes alive with a mix of festivals, fairs, and outdoor events perfect for enjoying the cooler weather. Whether you’re a fan of art, food, or outdoor fun, these top five fall events in Arizona offer something for everyone. 1. Arizona State Fair A fall tradition for […]
In the coming months, it will be important to watch how rising inventory and shifting buyer demand affect home prices in Metro Phoenix. In August 2024, sold listings dropped by 17%, signaling a cooling market despite a high-end sale of $32.4 Million in Paradise Valley. North Phoenix saw the average sales price rise to $1,192,529, […]
The landscape of real estate agent compensation has shifted dramatically due to a significant lawsuit against the National Association of Realtors® (NAR) and other major real estate agencies. The lawsuit challenged certain practices around agent commissions as unfair, leading to new rules that affect how agents are compensated when a property is sold. Understanding these […]
The Metro Phoenix real estate market experienced a cooling period from June to July 2024. Home prices dropped significantly and had longer days on market which suggests more cautious buyers, and sellers having to settle for offers below the list price. Sold homes decreased; however, the available homes for sale increased significantly, providing a more […]
As the 2024 Presidential election approaches, many prospective homebuyers and sellers are curious about how this major event might impact their decisions. Understanding the historical trends and potential effects of presidential elections on the housing market can provide valuable insights for navigating these uncertain times. We’ll also explore some potential scenarios and their impact on […]
The Metro Phoenix housing market experienced a notable shift in the 2nd Quarter of 2024, as the number of sold listings decreased by 7% and inventory shifted significantly by 24%. Yet despite the decrease in transactions, the average sales price climbed by 3%. Given these numbers, we may continue to see pressure on transaction volumes […]
In a significant development for potential homebuyers, mortgage rates have recently seen a downward trend. This shift could bring positive news for the housing market in 2024. Today, the average 30-year fixed mortgage interest rate is 7.00%, marking a slight decrease of 0.02% compared to the previous week. On the other hand, the 15-year fixed […]
Your vacant home may feel like one less thing to take care of, but leaving a property unoccupied can lead to significant risks and potential liabilities. Most typical homeowner policies won’t provide full coverage for the property once it’s been vacated. Vacant home insurance is a specialized type of insurance policy designed to protect properties […]
Despite a 13% decrease in sold properties, the average home sales price increased by a solid 7%, while the average price per square foot declined, indicating consistent pricing dynamics. The rise in available homes for sale suggests a shift toward a more balanced market. However, with interest rates dropping below 7% and the MetroPhoenix home […]
In 2024, the residential real estate markets in Paradise Valley/Scottsdale, Arizona, and Southern California offer distinct advantages and challenges for homebuyers, particularly those interested in luxury homes. While both regions boast stunning properties and high-end amenities, they differ significantly in home values, property taxes, and overall cost of living. This article delves into these critical […]
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