Like we said earlier, we could go on forever talking about Arizona but we're going to give out some honorable mentions to the state since we explored more of the local area.
Fun fact, Arizona is home to one of the 7 natural wonders of the world. The Grand Canyon is headed North of AZ and is a popular destination for people from around the world. We always recommend for people to go at least once in their life because it truly is breathtaking. Many people think of a miserable heat when they hear the word Arizona, but we truly only get into the 100s during the months of June-September. We're glad we only have to go through a dry heat! Another great destination to visit if you're into the outdoors life is Sedona, AZ. What makes Sedona so unique is the beautiful and colorful canyons, waterfalls, and hiking trails located in the town. With the weather being cooler up north, you won't have to worry too much about the heat when in Sedona or the Grand Canyon. Here's another fun fact for you. Did you know that it snows in Arizona?? Yes, it really does snow in Northern Arizona and if you don't believe us go check it out for yourself. Down toward the South you'll find the border between the U.S. and Mexico. Need a little getaway that involves the beach? Visit Rocky Point, which is approximately 2.5 hours away from the Phoenix area. You can easily plan a weekend getaway with friends or family and relax at the beach while chowing down some fish tacos.
Now that you know a little more about Arizona and all of the great things we have to offer, would you ever consider moving here? What about visiting for a few days to test out the waters? Let us know down in the comments, and if you're planning a trip here tell us! We want to hear why you're excited to visit. Already an AZ resident? Tell us all about why you love the state and city you live in!
Wow, we can't believe that the month of June is now upon us! May passed by us in a blink of an eye and we're happy that we still managed to stay busy during the month. Take a look at some of the events and listings we did during May!
Tuesday May 5th - Although Cinco de Mayo already passed, we still want to highlight Sidelines Grill! We heard they have really great wings... ;)
Wednesday May 6th - Celebrate Mother's Day with an amazing fully prepped meal from SanTan Brewing Company! You don't have to worry about cooking this coming Sunday when the brewery is serving delicious food for all the moms out there!
Thursday May 7th - Check out Tommy V's Urban Kitchen and Bar for another Mother's Day special! A 3 course prefix meal and even some wine for a lovely weekend lunch or dinner!
Friday May 8th - Who else loves tacos like we do?? Creekside Taco Shack is offering an awesome shrimp or fish taco special this weekend, so stop by to get your taco fix!
Saturday May 9th - Start your weekend off with something sweet! Urban Cookies is giving you a free cookie with every order you make! We hear their baked goods are amazing...
Sunday May 10th - Happy Mothers Day! Get $5 margaritas to go from The Local for Mothers Day, or for yourself! You can't go wrong with a margarita on a Sunday night!
Monday May 11th - The Green Corner Restaurant is offering free baklava with every entree you order! Two things we like: free and baklava ;)
Tuesday May 12th - Taco Tuesday already?? Hit up Barrio Queen today for their awesome Taco Tuesday at home package! All of that amazing food for $20!
Wednesday May 13th - Need a drink halfway through the week? Pita Jungle has got you covered! Ask them about their drink specials, and best of all, their wines are half priced on Wednesdays!
Thursday May 14th - Wind down on Friday Eve with a coal oven pizza from Toscany's! You can't go wrong with a classic pizza and wings or pasta combo!
Friday May 15th - It's the end of the week! Celebrate with a few shots from Murphy's Law Irish Pub by ordering one of their awesome $5 Frosted Skrewball Peanut Butter Whiskey shots!
Saturday May 16th - Spend your Saturday morning eating a delicious breakfast from Bisbee's Breakfast Club! Don't worry about having to cook breakfast when Bisbee's is the place to go and you get 10% off your order!
Sunday May 17th - We really do love Mexican food, and we want to share that love with all of you! La Fonda has amazing food and their daily specials will keep you coming back for more! You can also order their $40 meal deal that serves 4-6 people!
Monday May 18th - Check out what The Parlay Kitchen + Cocktails has to offer! 15% off your total bill when you mention "DWT"! We hear they have an amazing menu!
Tuesday May 19th - Sauce Pizza and Wine has a BOGO offer that will get you food for the entire family! Buy 3 entrees and get 1 for free! Make dinner easy by ordering from Sauce!
Thursday May 21st - Barro's pizza is offering great deals on their pizza for the entire family!
The DW Team has been working on gathering a bunch of local businesses to help during these hard times, and we came up with something that will benefit all of our favorite local places! During the month of May, we'll be shining light to a local restaurant and highlight the specials they currently have going on. We want to give a helping hand because these local businesses are part of our community, they're our friends, and we want to be there for them in their time of need. To check out what restaurants we've teamed up with, make sure to follow our Facebook and Instagram pages. We'll be posting different specials every day on our pages, so don't miss out on some awesome deals from our favorite local restaurants! Let us know if you're a local restaurant owner, or know of someone who would love to team up with us to shine more light to their restaurant and specials!
Have you ever caught yourself questioning what the local real estate market in 2020 will look like? How many of you have heard about a potential crash in the market for this year, or that there's too many people moving to the Phoenix area/Arizona in general because of cost of living and housing prices? We talked to Zoltar, one of the world's most famous fortune tellers... Just kidding! We didn't necessarily talk to Zoltar about the local real estate market but we did do some research about the market and we have answers to the questions many are asking their local realtor! Don't worry, we don't have any bad news to bear but mainly great news that will keep you at peace when it comes to potentially buying or selling a home this year!
Let's start with the most talked about topic - a potential 2020 market crash. Many of us have noticed that the local real estate market is booming and that's great, but it also makes many wonder if that boom is happening too quickly. Not to worry, there won't be a recession or setback any time soon for the Phoenix area (yay!). Truth is, with these types of myths being thrown around in conversations, current homeowners are going back and forth about selling their home. Although house prices are currently increasing, they aren't going up rapidly. As a matter of fact, according to a recent article written by AZ Big Media, house prices for 2020 aren't quickly rising like they did in 2019 . This puts a homeowner in an interesting spot because there's a potential fear of getting stuck to a depreciating asset in the future if they don't take advantage of those rising prices. This could mean that there would be more of a push to put their home on the market before it starts to depreciate if a homeowner decides to wait a few more years.
So what exactly is determining the rise in prices here in the Phoenix area? Well, there's plenty of factors that go into play, but the Home Buying Institute states that, "there are two dominant trends that stand out within the Phoenix real estate market. They are a growing population and a limited supply of real estate inventory. These two factors account for the ongoing rise in home values, and the positive forecasts for the Phoenix real estate market in 2020" Brandon Cornett, Home Buying Institute (January, 2020). The article also mentions that the population has nearly rose by 15% within the last 9 years, which is much higher than the nation's rate. Don't fear that percentage because it's actually a good thing! Another important detail to point out that relates back to increased house prices is the imbalance of supply/demand. According to Redfin, a real estate brokerage company, at the end of 2019 the Phoenix area saw a 2-month supply of homes for sale, while the national average was roughly at a 3-month supply. That 2-month supply of homes for sale is what created that imbalance of supply/demand, which isn't necessarily a bad thing, it just means that we are currently in a sellers market. For those who don't know what a seller's market is, it's basically a situation where there's more demand than supply for homes. For example, a home that is being put on the market will have plenty of potential buyers coming in, which leads to multiple offers on that home (that's a great sign). The only challenge Phoenicians would be facing is competition amongst the lower price ranged houses. Lower end house prices will create more competition for buyers who want to stick to prices that are considered more affordable. Speaking of lower-end house prices, who exactly is searching for homes within this price point? Let's find out!
And the award goes to... young people! Yes, you the millennial, is the type of buyer who is looking for a home that's considered to be in the lower price point. It isn't necessarily bad, if anything it's a good thing because it indicates that young people are becoming financially ready to make a pretty big purchase in their life that doesn't include pricey lattes or avocado toast. In fact, millennials who are in their late 20s are getting ready to purchase a home because they are feeling financially stable to do so. It's been predicted that the younger generation is fascinated with wanting to live that luxurious lifestyle they see in LA or New York City, but realistically, it won't be happening any time soon. That's why many of them are looking at areas that still have a similar lifestyle but with a better overall cost of living. Imagine the suburbs being filled with a bunch of millennials years from now...
Did you know that there's also another generation who is making a change to the market? You guessed it, boomers! Sorry to call your generation boomers, but it does sound better than saying senior citizens... Anyways, in the same article mentioned above by AZ Big Media, it's predicted that around 2035, seniors will approximately make up 1/3 of the overall population. An entire third of the population... That's a lot! It also does mean that they'll be in need of houses and/or retirement homes, which will be a hot market later down the road for us realtors.
So we went over the myth of a potential recession, why prices are rising, and which groups are creating a shift in the market, but what else is there to mention? Probably one of the more important factors of buying a home, money! We are by no means loan officers but we can tell you this, the interest rate for a mortgage is still relatively low! Last year in June we published a blog that talked about low rates and we're happy to say that they are still sticking around for another while! The Home Buying Institute's article brings up a very interesting point about overall mortgage rates. The Consumer Financial Protection Bureau did research on the local market and they created a chart showing us delinquency rates. What's a delinquency rate you ask? In the simplest terms, it's the percentage of loans that are considered past due. Back when the recession hit, the percentage for those rates were fairly high. Fast forward to 2019, those rates are considered to be lower than average. That just means homeowners are doing a much better job with keeping up on their mortgage payments. Keep it up Phoenix!
Before coming to an end, we just wanted to make a few honorable mentions to a few other factors that go into play when it comes to the local real estate market. As technology continues to advance, the way we do business is also advancing. Local realtors are now competing against iBuyers. An iBuyer comes from a computer generated service that's making it easier to purchase a home. How do they make the process easier? iBuyer companies make a potential seller fill out information about their current home, then sends them an offer and the price the iBuyer is willing to pay for the home. Most iBuyers are real estate investors who are looking to make cash offers on that specific home. This could potentially bring in a lower than expected offer, compared to a higher offer a traditional realtor can bring in, and those companies take the pain of marketing, repairs, etc. out of the equation. Oddly enough, the iBuyer method was pioneered here in Phoenix. By the way, check out this article by Forbes that gives you more insight on iBuyers and how they shifted the market as well. Another honorable mention is the labor market! With more people moving to Arizona, that means there's also a need for more people with skilled labor experience. It's good news for those who are looking to go a different route than the traditional, let's get a college degree route! Trade jobs, specifically in the residential construction industry, need to be filled with potential employees who are looking to still get a job that comes with great benefits and pay. Trust us when we say those jobs are definitely out there.
Let's wrap it up! Is it truly a good idea to sell your home to buy another one if you're already in consideration of doing so? We still suggest that you do, only because the market is in good standings and we would hate for you to lose value on your current home if you decide to sell later on. We aren't just saying this because we're realtors and we want to make money, we genuinely say this because we believe that the time is now! We want to help our clients make the best decision they can when it comes to their home. Whether you're buying or selling, we have all the resources you need to get what you want. We as a team are learning to adapt to these changes. Sure, we might complain here and there about those shifts but that won't stop us from going out of our way to get you one step closer to your dream home. We'll continue to develop those awesome relationships with our clients like we always have, we'll make sure we can personalize the experience for each and every person we work with, and we'll refocus on the basics of real estate while still keeping up with the times. Just for the record, we don't run off of algorithms, we run off of emotions and we can guarantee you that we are all real human beings, check out the picture below for proof. ;) #robotsdontshowemotionbutwesuredo
Blufish. (2020, January 26). Housing market in 2020: Here's what to expect in Arizona. Retrieved from https://azbigmedia.com/real-estate/residential-real-estate/housing-market-in-2020-heres-what-to-expect-in-arizona/
Blufish. (2019, October 28). Housing market forecast: What can we expect in 2020? Retrieved from https://azbigmedia.com/real-estate/residential-real-estate/housing-market-forecast-what-can-we-expect-in-2020/
Cornett, B. (2020, January 14). Outlook: Why the Phoenix Housing Market Won't Crash in 2020. Retrieved from http://www.homebuyinginstitute.com/news/why-the-phoenix-market-wont-crash/
Ellis, T. (2020, January 16). US Home Prices Up 7% in December. Retrieved from https://www.redfin.com/blog/housing-market-news-december-2019/
Wake, J. (2019, September 1). The Surprising Way Real Estate Agents Are Adapting To "iBuyers" Buying Houses Directly From Sellers. Retrieved from https://www.forbes.com/sites/johnwake/2019/09/01/the-surprising-way-real-estate-agents-are-adapting-to-ibuyers-buying-houses-directly-from-sellers/#a3fe9a942120
And just like that, we've started a new year and a new decade! Who else feels like the end of the year flies by?? We sure do but we're also happy with how our year went! From selling a few new builds and plenty of awesome homes, to seeing a great outcome for our annual breast cancer pub crawl and of course, giving back to our community. We as a team truly care about having a positive impact on our community, especially since many of us are Chandler natives! We'll keep it short and simple, we're extremely happy with how our year went, both as a team and as individuals and we're ready to crush our goals for the new year! Check out how our year went below!
It's that time of year again and we can't be more excited for this year's Pub Crawl! Spend the day with us as we make our way through Downtown Chandler for a worthy cause! All money raised from the pub crawl will go toward this year's recipient, Sonya Wade, who has been battling breast cancer as of this year.
Need some tickets for the pub crawl? Click here for the link to buy tickets! We can't wait to see everyone October 19th!
With the pub crawl being a few weeks away, we're still looking for sponsors and raffle items! Here's a few ways of helping us out for this event! We'd really appreciate any help, whether it's from sponsorships, donations, or simply showing up to the crawl! Get in touch with us if you're interested in helping, we'd love to hear from you!
Happy first day of the month! Can you believe we're already in the month of August?? Time will definitely fly by us since the end of the year is filled with plenty of holiday and school/work events! It's also Monsoon season, which means we'll be getting plenty of random showers and dust storms throughout the day, so let's prepare for that too.
So you're probably wondering, what does my home worth have to do with the rest of the year and the monsoon season? Well, unfortunately the monsoon season leaves our homes with damages from time to time, or your home is becoming a little too old to be going through the same repairs over and over again. Maybe it's time to upgrade to a bigger home because the entire family is coming over for the holidays. Regardless of the reason, it's important to know if it's financially the right time to be looking for a new home!
We're excited to introduce a new useful tool that we are giving to our clients (and potential clients) called Homebot! Homebot is a free tool that gives you a snapshot of what your current home is worth and it also comes with more in-depth information regarding your home, mortgage loan, your purchasing power, and much more! Once you sign up with one of us for Homebot, we see the same exact information you see. So, in case you have any questions regarding your Homebot information, don't be afraid to ask us! The whole point of using this new tool is to help our clients get a better understanding of their home in a financial perspective, and for us to be able to help you figure out what's your best option!
Homebot is a great tool to use for anyone who wants to move, buy a second house , or is just simply curious about what their home worth is. We won't pressure you into buying a new home, in case you were wondering. We truly just want to help you make the best home and financial decision for you and your family! Click here to sign up for Homebot today, and don't forget, it's a free tool for you to use so take advantage!
The darwin Wall Team. Assisting Arizona Home buyers and Sellers in the East Valley.