The numbers are out, and the Phoenix Metro real estate market is going strong! Sales are up 13.8% over last month and are 5.6% higher than last year’s sales. Housing inventory numbers for new and total inventory were up, but inventory remains low with only a 2.43 month supply of homes. Home prices have also increased in the past year, with the average sales price up 5.6% and the median sales price up 6.3%. Days on market have continued to be consistent for the last quarter and is currently at 69 days on market.
For the first time in 2019, we saw a year-over-year gain in
sales volume, the second highest sales volume on record. Lower interest rates and higher loan limits
are helping the market lift. Based on the current activity, we also expect
strong sales numbers for May.
Another factor for a strong real estate market is that Phoenix was named as the top destination in the country according to a recently published Redfin Migration Report. More than a third of people searching for homes last quarter were from out of town. Many are coming from California and expensive cities from other states, for our low cost of living and great weather. This trend has been increasing thanks to strong job growth and major companies like Allstate, Intel, Boeing, Microsoft, & Facebook moving or expanding operations in the Phoenix Metro.
If you’re considering moving up or down, now is an opportune
time to make that move. Let us show you how much more our 20+ years of
experience will put in your pocket! Call us at 480-355-8645 or email [email protected]
While nobody wants their home broken into, the FBI facts are
that a burglary occurs every 20 seconds in the US. Home burglars generally have
a pattern, as criminals are looking for an easy target they can rob and get out
fast. Here are six tips from career burglars that you can use to protect your
home and prevent break ins without installing top-dollar security features.
Burglaries Aren’t the Most Common
Burglars are looking for the most probably time that there will be no one home, which means the daylight hours. Weekdays are ideal, since weekend schedules are too unpredictable. The most popular times that break-ins occur are between 12:30PM and 2:30PM when people are usually away at work or school.
2. They Know When You’re
Not Home – Thanks, Social Media!
Most people post in real-time when they’re on vacation or away
from home. Unfortunately, tech-savvy criminals take advantage of that and scout
social media platforms including Twitter, Facebook, Instagram, and FourSquare
to find victims. An I-Team survey found that over 10% of burglars used social
media to find victims, including one burglar in Orange County who targeted at
least 33 women he saw in public and used the GPS data embedded in photos posted
to their Facebook & Instagram to break into their homes in 2015. Even for
those with private accounts, an old friend from high school or a neighbor down
the street could be a potential criminal.
Never post what times you’re not home or how long you’ll be gone and
save trip photos to post after you’re back home.
3. They Don’t Like
Burglars don’t want anything to do with alarm systems,
whether they’re top of the line or not. Homes without an alarm system are
almost 300% more likely to be a target. If you have an alarm system, make sure
the code isn’t easy to guess like a house number or a birthday, and make sure
to keep the keypad clean so a burglar can’t guess based off the numbers you’ve
pressed the most. Make sure to use the security features your home already has,
like locking your windows, doors, and keeping the exterior of your house well-lit. Tricks that make it seem like someone is home
also work. Motion sensor lights, bright flood lights, timed lights in the
house, radio or TV left on, or a car in the driveway are all things that make a
burglar nervous that someone is home.
4. Gun Advertisements
are Not Security
If you’re a proud gun owner, it entices burglars more than
it scares them away. A gun is stolen
roughly every two minutes in the US, so it’s better to keep your guns in a
safe. NRA bumper stickers or Smith &
Wesson signs on a house advertises that there’s usually a lot of guns to steal
5. Shrubs &
Architecture Make Great Hiding Spots
Tall thick bushes, half walls, big fountains and other overgrown
landscaping are great to hide in, not only from you but from the neighbors,
too. Keep your landscaping regularly
trimmed and décor elements well-lit. If you do want big plants by your windows,
consider something thorny like cacti or roses.
6. Valuables Left in
the Open Are an Enticing Target
Expensive things left within clear view of windows are advertising
to burglars what kind of items they can steal. Make sure to put tablets, laptops,
or anything valuable away from view from first story windows. Key hooks, especially
labeled ones, should also be kept out of sight. Mike Fraser, a former professional
burglar and host of the BBC show Beat the
Burglar, also advised to leave large family calendars out of view since
they detail when you’ll be away from home.
Any documents with your personal information should also be kept out of
view as they can turn into a gold mine for criminals looking to easily steal
your details for identity theft.
Using these tips can help you prevent your home from being
broken into. Be sure to research crime
rates and trends in your city and neighborhood, especially when you’re looking
to purchase a home in an area you’re not familiar with. It’s an important step of the home buying
If you’re thinking about purchasing a home, please give The
Gina McKinley Group a call at 480-355-8645 or email [email protected]. We’ve
love to schedule a free consultation to educate you on the home buying process
so you can make the most informed decision for your family.
Happiness – The feeling of owning your own home is exciting and gives you a sense of accomplishment. You get the benefit of making it your own. Doesn’t that sound wonderful!
Tax Savings – The government rewards homeowners by providing tax benefits. The interest paid on your mortgage can generally be deducted from your income.
Appreciation – Home values have a well-documented history of growing over time. This increase becomes equity that benefits you by adding to your financial wealth.
Equity – Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes toward the principal balance on your loan. This builds your equity and acts as a savings account.
Roots – People who own tend to stay in their homes four times longer than renters. This creates an opportunity to get to know your neighbors and connect with your local community.
Education – Research shows children of homeowners earn higher test scores and graduate at a higher percentage than those of renters. Home ownership creates a stable environment for your children that pays off for them, too.
If you’re considering the path to home ownership, give The Gina McKinley Group a call at 480-355-8645 or email [email protected] today!
Congratulations! You’ve made the decision to sell your home and are going to be putting your home on the market. Hopefully, your next step will be to choose an awesome REALTOR to give you a customized list of what to do next. However, for those of you who want to jump to checking off your to-do list, here’s some things not to do to help you get started:
#1 Don’t Over-Improve
There’s lots of articles about how to make improvements to your home and sell for top dollar. Updating appliances and painting can offer great returns on investment. However, before you start to rip out the kitchen, you’ll need to realize how much that will cost and what you can expect in an increased sale price. (Hint – it’s different for every home!) You may be looking at a break even for your investment or worse. It’s also important to avoid making improvements that are hyper-specific to your tastes. For example, not everyone wants a home theater and a totally customized game room complete with a wet bar. What if your buyers are a family that want a play room for their kids? They’ll cross your home off their list and choose something that they won’t have to re-do.
#2 Don’t Over-Decorate
Over-decorating is just as bad as over-improving. You may love your ornate, Mediterranean-style décor complete with statues and several fountains, but it can also send potential buyers running in the opposite direction. When getting ready to sell, you want to neutralize your decorating scheme so it appeals to as many buyers as possible.
#3 Don’t Hang Around
This one is more for after you’ve put your home on the market and your agent calls to let you know they will be bringing buyers by this afternoon. So exciting! You put some fresh cookies in the oven and hang around with a big smile, ready to answer any questions that the potential buyers may have. Right? Wrong! Buyers want to feel comfortable in your home, and not feel confronted by your in your space. It makes them feel very awkward to be in your home trying to figure out if it will work for them or not if you’re hovering over their shoulder. Get out of the house (for a longer window that your agent gives you – remember, most buyers are looking at multiple homes at once so it can be hard to determine exactly what time they’ll be there in advance!) or at least take a walk around the block or sit in the backyard.
#4 Don’t Take Things Personally
This can be a hard one. Real estate is a business, but selling your home is very, very emotional. You have a lot of memories tied into the house, and can feel that a negative comment about your home is a direct reflection on you. Pretend you’re a buyer as you walk through your home and see your house through their eyes. Then, when a buyer says they need to replace your prized wood paneling with something more to their taste and send over a low offer, you’ll be able to take it in stride.
For a customized list of how exactly to prepare your home for going on the market for sale, give The Gina McKinley Group a call at 480-355-8645 or email [email protected] today! We will be happy to meet with you to go over how you can have your home looking its best and get the most money for your home!
At this time of year I like to give an update on the state of the real estate market. The media has been stating that there may be a bubble, however, the current market is in a very different state today than back in 2004-2005 which lead to the crash in 2007. Here are the current facts for our local market:
The Phoenix job market no longer just depends on construction and tourism, and is more diverse with increases in healthcare, tech, engineering, and finance. The jobless rate is low at 3.4% for the metro area, and the average annual earnings are $66,000 now vs. $39,000 in 2007. Another difference is in new construction. Housing starts are down 4.2%, meaning that the builders are building homes for owner occupancy, not over building for speculation. Rental rates have jumped and now average $1,495 a month. Phoenix metro is growing with inbound relocation, most coming from southern California.
More Highlights for 2018;
- New home prices increased 24%
- Resale home appreciation 8.2% – metro Phoenix
- Resale home appreciation 7.1% – Chandler
- Average price per square foot $168 – Chandler
- Median sales price $383,000 – Chandler
The 2019 predictions are that we are still in a Seller’s Market. However, that market segment is slowing, so expect longer days on market and lower appreciation rates this year. Of course, the most sales will take place between now and April, so now is the time to consider listing your home in order to sell at the highest price as well as make a purchase with the largest amount of homes to choose from.
The only constant in real estate is change as they say. The market ebbs and flows, so if you are thinking about making a move in 2019, I would love the opportunity to work with you for buying, selling, or investing. Our team is here to serve you for all of you real estate needs, call us today at 480-355-8645.
When selling your home, it’s incredibly important to stage your home if you want to sell for top dollar. A welcoming and appealing home means a lot to the buyers in the market. On average, you can receive back twice what you spent in staging! A common misconception is that you must spend big bucks to make an impact. Here’s 5 golden rules of staging on a budget to prove otherwise…
Rule #1 – De-personalize
This can be a little hard for people, as most are very sentimental to their homes and all the memories within. However, the point is for buyers to picture themselves in the house, not you! Those family photos may mean the world to you, but to a buyer, it’s a distraction that prevents them from seeing how their family would live in your home.
Rule #2 – Maximize
Declutter and maximize the space in your home. A closet jammed with a lot of clothes tells buyers that your home is terribly lacking in closet space. Remove clothes that you don’t need for the immediate future, and use matching, stacked boxes to hide clutter. Invest in matching hangers for clothes, as hangers are inexpensive and the look will modernize your closet with a visual impact and luxurious feel. You’re going to be moving soon, so pack up things you don’t need and consider temporarily storing the overflow offsite.
Rule #3 – Sanitize
This is the easiest and cheapest way to stage your home – give it a good, old fashioned scrubbing! Grimy walls, dirty outlet covers and switch plates, dishes in the sink, dusty ceiling fans, scuffed baseboards, and spotted shower doors scream to any buyer that a home has not been maintained well. It’s much better to clean what you have then replace it, and there are lots of cleaning hacks online to help. Have your home smelling fresh, but don’t go overboard on synthetic fragrances.
Rule #4 – Modernize
Unless you have fantastic period built is (unlikely, but not impossible for Phoenix) every home can benefit from some updating. If buyers feel a home is dated, it will reflect in a lower offer. Dated cabinets can be modernized for less than $200 with a new wood stain or a good sanding with a new coat of paint. Replacing cabinet hardware is another low-cost way to make an update.
Rule #5 – Neutralize
Color can make or break a buyer’s interest in your home. You may love bright prints and bold colors, but a buyer will only see a great deal of painting if it doesn’t match their style. A fresh coat of paint is another inexpensive way to update your home and will also have the benefit of your home feeling cleaner.
For more staging tips and tricks, give us a call at 480-355-8645 or email [email protected] today! We will be happy to help you have your home looking it’s best before going on the market.