October 28-29, 2023
Welcome back Weekend Warriors! Fall has definitely set in and the calendar is PACKED with some seasonal fun that Arizona residents wait all year for. You might have seen us deliver some cutie BOO bags this month to some of our local neighborhoods and it's been so fun to see the posts of how they've traveled around. In the meantime, we've got A MILLION things coming up that we'd love for you to join us at including our Women in Leadership event benefitting AZcend and hosted by our nonprofit organization, Community on Purpose. Keep reading for details on that event, our annual client appreciation event coming up in just a few weeks and Flourish, a two day conference for entrepreneurs in AND out of real estate that kicks off THIS week with a volunteer project you can sign up for as well.
But, before we get too ahead of ourselves - we should mention that we are definitely starting to see an increase in inventory in the market - like by a pretty decent amount. We've gone from about 11,000 houses on the market last quarter to just over 15,000 houses on the market this month which means there's quite a few more options for buyers. You might have noticed that there are more signs in your neighborhood or more emails from your portal (Wait, you aren't on a portal yet? COME ON - message us to get set up!) but the good news is that even with a few more houses coming to the market, prices aren't skyrocketing like they have been the last few years. In fact, they are starting to stabilize with a slow amount of increase which means if you are shopping - I'd be getting in before rates drop and those prices do the exact opposite.
We're getting lots of questions around interest rates and how to buy those down, what kind of help is out there for down payments and closing costs and HOW to buy a house right now when so much of your money is tied up in the house that you have. In fact, we're getting a lot of "our house doesn't work for us anymore but I'm not giving up my low payment and rate" and our answer is, you probably shouldn't. There are so many ways to put your equity to work - paying down debt, starting a rental portfolio, even just accessing it as a FREE open line of credit?
Curious? Then call us! We want to know what questions you have, what's keeping you up at night, and how we can help. In this week's edition of Weekend Warrior, we've brought you OUR take on the real estate market - so check it out and ASK away!
Market Update October 2023
As we close out the month of October, inventory continues to rise reaching its highest point all year alongside the highest interest rates of the year. While buyers still have less to choose from than they did a year ago, sellers are seeing about the same days on market and a much better success rate with their listings then during the 2022 downshift.
With months of supply creeping up to 3 and our market rapidly nearing a balanced state, we have not yet seen an impact to pricing as we see average dollar per square foot for list price firmly planted above 300. Supply has increased sharply in response to the interest rate increases in the end of last year and over the last month, with a decline of inventory expected to follow as it did in the first half of 2023 and the middle of 2020.
New construction continues to provide relief for buyers looking for below market interest rates and sellers must remain cognizant of that competition and expect to negotiate concessions in return. While the market is softer than during the second and third quarters and upward pressure on prices is easing, the market is not crashing and nor are values.
Listen in as we start there and work backwards and don't miss our Gilbert Sun News article for more on our take. Want even more market news? Stay tuned to our Facebook and Instagram where we provide real estate updates every Monday and Friday and if you are really wondering what these changes mean for YOU, click the link below to book a strategy call with one of our team members and let's get to work!
🙏 THANK YOU FOR VOLUNTEERING 🙏
Community on Purpose and the Amy Jones Group partnered with eXp Extend a Hand's annual day of service at Chandler-based nonprofit AZCEND and it was a smashing success. In partnership with several local companies who provided paint supplies, a muralist, gardening tools and plants, sand for a sandbox and so much more we painted around their community center, organized the food bank, spruced up their outdoor landscape and garden, put together snack kits and birthday cards for the senior center and so much more! A huge thank you to our volunteers and sponsors including State48 Roofing, Powell Pool Company, and Myres Electrical Service - we couldn't have done it without you!
🏡 Hot NEW Listings 🏡
Client Appreciation Event
Our absolute favorite event of the year is coming up on November 19th so be sure to RSVP because those FREE pies go fast! This annual event brings all of our clients together for an afternoon of fun and family in the park with pies for the holidays, games for the kids, and lots of time to chat with good food, great weather, and a lifetime of memories. Each year we bring in a family photographer to take FREE holiday portraits of you and your crew - perfect to use for your holiday cards or New Year's announcements! Whether you've been before or this will be your first year, we can't wait to spend time with your family this holiday season and share our gratitude for being on this journey with you!
So many of our clients have questions about how to navigate the market as a first time home buyer from how much to save up to how long the process takes. In partnership with our friends over at Define Mortgage, we're offering first time home buyer seminars through the hottest months of the year to help YOU get all of your questions answered. We'll be talking about everything from what is needed to get approved to why you should get a home inspection and everything in between. Don't worry if you are new to the process or feel like you don't know the lingo, we've got you covered with lots of expertise and the heart to know we all took the first step ourselves and it was overwhelming to say the least.
East Valley Moms + Amy Jones Group
📅 Save The Date 📅
The Women in Leadership event was a massive success with more than 60 women in attendance at Parlay Kitchen and Cocktails in Chandler on September 1st. Heading into the weekend, these women got to hear from C. Renee Mangum on the power of confidence, your personal brand, and knowing your UNIQUE self in order to step into your BEST self. The breakfast was amazing, the networking and company was powerful, and we're gearing up for our LAST one of the season on December 1st with a fashion show benefitting AZCEND Community Center in Downtown Chandler. If you haven't gotten your tickets yet, this one WILL sell out so be sure to REGISTER today!
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The Amy Jones Group prides itself on our commitment and service to our clients. Voted Best of Our Valley for nine years running, we appreciate the support from our past clients, vendor and community partners!
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Our Team is Growing!
Think you know someone that might be a perfect fit for our team? Our team is committed to helping people make really big life decisions and ensuring we are here when our clients need us the most is incredibly important to us. In order to care for our families, our community, and our clients - we are growing and hope to partner with real estate professionals in the area who share our values of growth and giving back. If you know someone who has been looking for a real estate team to align their business with or someone you know has big goals and a strong belief that we can go further together, please send them our way. Resumes and inquiries can be sent to [email protected] ❤️ .
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