Month of May

Welcome back to our What's Up Southeast Valley for the month of May!

The real estate market is changing with each moment and we're finding new ways to connect with you, our community and local small businesses throughout it all! Welcome to Fall in Arizona, we are so excited to be on this journey with you!

We LOVE our clients, community, local businesses, giving back and serving YOU. Let's have an incredible month together!

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Our Team Around Town

This month has been full of fun as we stepped out, stepped up, and stepped into the lives of our community! From Women in Leadership events, to the House of Refuge volunteer day, buyer's walk throughs and more - Check out all of the fun and follow us on SOCIAL!

We're Hiring!

The Amy Jones Group is RAPIDLY growing! We are hiring Real Estate Sales Professionals for our Gilbert office. On pace to serve more than 165 families in 2021 alone, we are looking for EXPERIENCED agents to join our Southeast Valley team. Known for our excellent client care, exceptional negotiation skills, world class digital marketing, and being trusted advisors in the SE Valley for more than a decade - we are looking for hard working, ethical, creative, real estate professionals who love to learn and thrive in a team environment, where giving back and giving to each other is important to our overall success. For more information on who we are and how to apply, visit https://www.amyjonesgroup.com/careers or send your resume to [email protected]!

As graduation day approaches for many in the valley and calendars start to fill up with cooler vacation destinations, the real estate market in Arizona appears to be in need of some time off itself. After two years of plummeting supply and artificially low interest rates, we appear to have pushed the market about as far and as fast as we can without breaking it. 

While we have nowhere near enough homes for the people who want to buy them and the rules of supply and demand say prices will continue to rise until we do, the interest rate hikes have finally weighed down the buyer’s enough that many are taking a seat and crying uncle.  

While inventory had been steadily declining pre-Covid, it wasn’t until the low interest rates manipulated by the purchase of mortgage backed securities in bulk fueled an influx in buyer demand and both human and supply chains put a kink in our ability to ramp up historically low building that we ended up with a supply shortage we thought we might never recover from.

Well, recovering we are and its happening quickly. While prices and monthly payments have risen significantly over the last two years, buyers have 40% more inventory to choose from than this time last year and 45% more than just 6 weeks ago. While many sellers have given up their sideline positions in favor of cashing in on their pockets full of equity, the majority of this gain is coming from the buyers who are sitting out not the sellers who are tagging back in. 

Just as vacations cannot by definition last forever, neither can the current market conditions we are experiencing as part of the market’s desire to gravitate towards balance. While we’re not in the business of fortune telling, history would tell us that rapid interest rate increases are often followed by a return to their starting point within a few years and a lesson in recessions would predict lower or stabilized interest rates and higher or stabilized housing prices to come. 

If you are looking to buy a home in the Gilbert area, you’ll likely have to budget for more than you planned, that part is true. But with more to choose from, the increasing likelihood of buying without waiving appraisals or giving up your first born, the return to some normal negations around inspections and concessions and the potential to reduce your monthly payment in a future refinance when interest rates drop and you’ve paid into your mortgage piggy bank - buying still looks pretty good. 

And don’t worry sellers, you aren’t being left out of the benefits of a less frenzied market especially since many of you will still need to buy another home to live in. If you’ve been trying to time to the market to make the absolute most on your house, you’ve already passed up several signs that we are getting closer to the pricing peak and may want to stop the least scientific practice of real estate. Here in the East Valley, active listings have more than doubled from this time last year, pending listings have decreased by 30%, and days inventory has nearly tripled. What are you waiting for? 

Inventory will continue to rise and so will prices at least in the short term, interest rates will fluctuate and introduce new strategies into the negotiation process for the long term, and in the meantime - graduation caps will fly, vacations will commence, and those who still need to buy or sell a home will. Consumer sentiment will dictate how quickly we return to balance, a type of market that Arizona has spent very little time in and likely still wouldn’t IF we reach it again.

One thing is certain, national housing experts continue to highlight suburban cities that are amenity rich as one of the fastest growing segments of our market. To see how this prediction could help your family in 2022, reach out to us today!

BeLocal Business Buzz

Monday Market Update

Thursday Market of The Moment

Every week, our trusted Title partner, Don Czajkowski with Fidelity National Title has a meeting of the minds to talk about the ever changing real estate market, especially right now. This week, Mindy was a featured guest talking about inventory, new home builds, interest rates, tips to release the equity in your home, alternatives and options to give yourself more time to find a property to purchase when selling and what the Amy Jones Group has been up to this month. Check out all of the recent broadcasts below starting with the one from this week!

Through Her Eyes

Live.Love.Local - Connecting The Southeast Valley

Connecting with the community lights up our souls and we couldn't be more thrilled to get to know those who run our small businesses. It's so important that we support local, especially right now. Each business below is open, taking appointments, reserving parties and staying safe by following our state guidelines. Let's all do our part in keeping the economy alive, so that when it comes time to fully get back to life, we can all thrive once more.

Community on Purpose Podcast

👏 Congratulations! Mazel Tov! ¡Felicidades!

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