Welcome Back, Weekend Warriors!
This is the Amy Jones Group's weekly newsletter, detailing local events, recent real estate news, and open houses.
This week, we're bringing you six fun-filled events happening around the Valley!
Our Team is Growing
We are hiring!
Real Estate Professionals, Showing Assistant & A Spanish Speaking Bilingual Real Estate Agent
The Amy Jones Group is growing! 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 reply to this post directly!
Email your resumes to - [email protected]
Check out the new Cromford report where they are reporting a stabilization of the market at our current numbers meaning not much fluctuation in either direction and if anything, a few with declining inventory again as buyer demand returns - and the expectation that we can continue to see prices rise for the foreseeable future, at a MORE NORMAL (but still high) rate of appreciation. It’s time to stop talking about the market that was, the market that we had “never been in before” and talk about the market we’re in, the one we experienced last year, the one where inventory is low and demand is good, the one where prices are rising and houses are selling quickly but without the temporary psychosis that the market experienced from March to June - it was a temporary blip, but without the eventual fall, and now we’re settling back into the normal road that is Arizona real estate where most market shifts take 2-3 years to cycle.
The total number of active listings without a contract is still rising, but only very slightly. Only 44 net listings were added over the past week across all areas and types and just 15 in the prior week. It would take many years to get back to a balanced market at this rate. We have just under 7,000 active listings without a contract and a balanced market would need between 25,000 and 30,000.
August 24 - The active listing counts (excluding UCB and CCBS) have almost stabilized over the last 2 weeks and are now showing very little upward momentum. This is bad news for buyers because they are stabilizing at a very low level, although not as low as they were during the early spring. Several cities are seeing declines in supply over the last week, for example:
- Scottsdale - 523 listings (529 last week, 545 two weeks ago) - long term average is 2,202
- Mesa - 374 listings (378 last week) - long term average is 1,521
- Avondale - 36 listings (39 last week, 40 two weeks ago) - long term average 333
The situation is vastly different from that in 2005 when supply exploded and caused the market to crash starting in 2006. We still have a severe shortage of homes for sale, and although affordability problems are reducing normal owner-occupier demand, the demand from investors and iBuyers is taking their place.
August 19 - Here is our latest table of Cromford® Market Index values for the single-family markets in the 17 largest cities
The Northeast Valley is clearly out-performing the rest of the valley with inventory staying lower and improving demand trends. Paradise Valley also has stable low inventory but demand there has weakened over the past month.
We are also seeing CMI increases over the past week in two other major cities: Surprise and Tempe. Among the secondary cities we see Apache Junction, El Mirage, Laveen, Sun City West, Sun Lakes and Tolleson all moving higher in the last week. Several more major cities have their CMI move down by very little in the past 7 days: Gilbert, Glendale, Peoria and Phoenix are in that category. They look ripe for a possible turnaround.
Because it is the most leading of leading indicators, there is nothing we can use to forecast the CMI. It is telling us that increases in demand are helping to balance the rise in supply, but supply is still nowhere near enough to meet the demand. Much of that increased demand is coming from iBuyers and buy-to-rent investors. These buyers do not have to worry about the affordability of their monthly mortgage payments. However their demand can be switched off in seconds by a simple business decision, as happened in 2Q 2020. We therefore need to treat their demand as less sustainable than that from regular owner-occupiers. These owner-occupiers are struggling with affordability concerns right now, despite interest rates that remain low.
If the overall CMI stabilizes above 300, it means prices still have upward momentum that will probably manifest during the fourth quarter after a relatively quiet third quarter.
As your residential real estate experts and community advocates, our job is to serve through real estate and community, and we are passionate about helping your family move forward with the solution that is right for you. For convenience, for ease, for peace of mind, for clarity, and for YOU, give us a call at 480-250-3857 or join us at one of our upcoming events on Our Events Page.
Plant-Based Summer Desserts
Saturday, August 28th at 11:00 am
Summer is almost over but you still have time to enjoy some fresh desserts. In this class you will make:
Key Lime Pies with Walnut Cookie Crust
Strawberry Cupcakes with Fresh Strawberry Frosting
Chocolate Chip and Peanut Butter Date Bar
Mixed Berry and Walnut Cake
All desserts are oil free and made with whole grains, nut flours, and some cashews. I'm using maple syrup and date syrup as much as possible.
To sign up for the class, follow the link. Be sure to send me your email address: [email protected] so I can send you the recipe packet and Zoom link.
Meditate & Mimosas
Saturday, August 28th at 10:00 am
Rise & shine! Join in a circle of women as we stretch, dance, flow and end in beautiful meditation bliss. If desired, sit, connect, sip a mimosa and enjoy delectable bites.
$10 for class, advance registration is required. Please message them directly for registration.
Happy Morning Special too:
$1 off beer
$2 off glass
$5 off bottle
$2 off cocktails
$2 off all starter foods
Southbound Duo - The Perch
Sunday, August 29th at 1:00 pm
The Perch Brewery and Pub is located in Historic Downtown Chandler Arizona. It is not only a Brewery and Pub but home to a collection of brightly colored, tropical rescue birds. We Feature 40 craft beers on tap and an ever changing selection of Perch beers. Our Brewmasters are responsible for our innovative beers. Thoughtfully prepared Craft Food, with house specialities that incorporate Perch and other craft beers into their ingredients. If beer isn't your thing enjoy one of our inspired craft cocktails and a full bar.
Business Leaders' Quarterly Book Club - Launch
Friday, September 3rd at 9:30 am
Join us for our next Business Leaders' Quarterly Book Club based on the book Dare to Lead by Brené Brown and moderated by the Women Empowered Committee!
***This Book Club launches on Friday, Sept 3rd and meets each Friday morning from 9:30AM-10:30AM through Oct 1st.***
Presented by Emily Evans Consulting
Parent's Night Out - ASA Now
Saturday, September 3rd at 4:00 pm
Caring for children impacted by foster care on a daily basis can be very stressful and difficult for foster and foster adoptive parents. This ultimately takes a toll on the family as a whole. ASA Now provides a much needed break for exhausted foster and adoptive parents while still meeting the special needs of the children. This intervention provides parents with an opportunity to recharge, prevent burn-out, stabilize the whole family, and ultimately result in fewer foster and adoptive disruptions.
ASA Now is in need of caring volunteers to help with our next Parent's Night Out event schedule on Saturday, September 18th. You may volunteer to supervise children, run an activity or serve food.
Volunteers supervising children will be assigned one child or two youth and will be playing games, doing crafts, and serving pizza and fruit to the children.
BACKGROUND CHECKS ARE REQUIRED FOR ALL ADULT VOLUNTEERS AGES 18 AND UP WHO WILL BE VOLUNTEERING AT THIS EVENT. WE CAN ASSIST WITH HELPING YOU OBTAIN ONE. Youth (ages 12-17) are not required to have a background.
Sign up here:
From now until October 1st
It's that time of year where we are seeking donations of water or funds to purchase water as we are heading back into triple digit weather.
This much needed water will be given to the homeless and unsheltered.
From now until October 1st, please donate water or funds to our office or we will come and pick them up from you!
Thank you for helping us make a difference this summer.
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