Weekend Warrior | August 24 - August 25, 2024

Hey There, Weekend Warriors! 

This is the season where better weather and calendars start to collide making for long days and even longer weekends! Between sports, laundry, catching up and preparing for the upcoming week, the weekends can feel less like R&R and more like P&G (prep and go!). Here at the Amy Jones Group, weekends also mean open houses, showing families homes in neighborhoods new and old, meeting with our clients about their upcoming moves, and checking out some really great steals at builders across the Valley from Starlight in San Tan Valley to Lennar in Buckeye. Offering everything from low mortgage rates to incredible deals at their design center, they are definitely worth taking a peek! We're also busy prepping for some amazing September events from family planning and dementia friendly business training to volunteer events and a FREE movie in September - please let us know if you can make any of these events, we'd absolutely love to see you out and about soon. Well, enough about September - let's kick things off this week with an update on how the market is doing RIGHT NOW. And here's a hint, it's picking up the pace...

 📊 Another BIG Rate Week 📊   

Okay guys - buckle up because we’ve got lots to share starting with some myth busters about some recent changes you might have heard about in the industry. 

Pro Tip: If this is your first time buying or selling a home, the talk about "changes in the industry" can be confusing which is why we've created a first time home buyer AND seller strategy session - just for you. If you are thinking about taking the first steps this Winter or even in the New Year, reach out so we can get you on schedule now! 

And for you more seasoned folks, we know you have questions too! Moving is a big deal and trying to decipher what has and hasn't changed can be overwhelming. Here are just a few of the things WE'VE been hearing -

Myth #1: Buying a house just got a whole lot more expensive. 

In truth, the price of houses is impacted by two factors - simply put supply and demand. We are currently sitting with just 73% of our normal supply and 73% of our normal demand here in the Valley which means we are in a balanced market and prices are holding steady. We have more than a dozen families closing on homes with the Amy Jones Group in the next month and 100% had their representation costs paid for them by the seller and MANY of them also had their title and escrow fees paid for by the seller - what a deal!

Myth #2: We have to work with the first agent we meet. 

Don’t worry friends, the power is in your hands to decide who you work with and we’ve made that a whole lot clearer by creating an employment agreement that is easy to understand. The good news is, with nearly 18,000 active listings here in the Valley and an average days on market of about 2 months, time is on your side to put together the right buying strategy with the right real estate professional. Remember, you don't have to sign ANYTHING (except maybe a sign in sheet to let the seller know you stopped by) at an Open House to see the house, but we would love to come with you! 

Myth #3: I heard interest rates are going to come down and then the house prices will fall. 

Now, this one just doesn’t make a whole lot of sense. What happens when it gets easier to buy something - more people do it which means it might actually make prices go up! The median sales price is actually only up a 1/2 percent since last year but that’s likely to change if rates improve which we're already starting to see this week. We've got 9 out of 17 cities we track still in a seller market and 5 in a buyer's market (hint: the rest are in balance) - curious which one your's is? 

On August 5th, everything went on sale in the housing industry. As discussed in last week's Weekend Warrior, multiple factors are pointing towards improvements in mortgage rates this year. Well, it happened faster than many were expecting at the beginning of August as average mortgage rates dropped abruptly to 6.3% before settling at 6.5%, a significant improvement from last April’s average rate of 7.5%. The net result for buyers was a 10%-11% drop in the principal and interest payments regardless of loan amount. Loans between $300K-$400K saw calculated payments drop from $200-$270 per month, while those between $450K-$550K saw drops between $300-$370 per month.

We need your help, East Valley! We’ve donated the funds to provide furniture and home baskets to the Welcome to America Project, a Tempe based nonprofit organization, that welcomes resettled refugees with vital resources. We were connected to this organization through our friends at Hands on Greater Phoenix and now we’re asking for your help to put the furniture together and assemble these baskets for the families. 

On September 12th from 10am to 1pm we’ll be getting together so sign up at the link below and let us know if you can make it. It’s amazing what we can do when we get together to make the world a better place. Snag your spot and together we can truly make a difference in our community! 🌎 

We've got two super fun events coming up to help YOU grow your local business. 

Want to know how to get people to line up around the block because YOU are exactly the person they want to do business with? Join myself and Colleen Biggs, Business Coach and Strategist, as we take local female entrepreneurs through a hands on workshop that will leave you feeling confident in delivering your value in front of your next client. This hands on workshop will cover strategies for becoming a locally known expert, building a personal brand, and empowering a hungry client base to be your biggest advocates. Space is limited at this in person event, so register today and reserve your seat at the table. 

And for you real estate agents out there, this next one is for you! 

In September we’ll be talking about all things value propositions - why you need ‘em, why you struggle with them, and how to convey them to the people you want to work with. Join us for some caffeinated networking, a panel discussion and more - at this FREE meet-up open to ALL brokers, all real estate professionals - well, at least those with a good vibe. Register to snag your spot and remember collaboration over competition always wins.

😲 In Case You Missed It!