Welcome Back, Weekend Warriors! It's Back To School Time!
Welcome to the Amy Jones Group's weekly newsletter, detailing local events, recent real estate news, and open houses.
This week, we're bringing you these 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]
A balanced real estate market has hit Arizona hard and fast, kind of like that feeling you get when you open up your car door and the heat hits your face after driving around blissfully with the AC on max. Not to overuse the weather metaphors, but just like we are shocked by the first 110 degree day of the year despite the fact that we all know its coming, the shift in the real estate market feels sudden and unexpected on the tail of a laundry list of signaling trends.
Volatility in interest rates and rapid escalation of home prices for buyers, sellers unsure of how long they can bank on that growing pile of cash building up in their home, investors finding it difficult to cash flow as the cost of money, labor and materials increases and rental rates stabilize, and seasonality that we haven’t experienced in the Arizona market since the onset of Covid have all been paving the path for this return to balance.
What we couldn’t have predicted, much like we can’t predict how long we’ll stay in balance, is how fast the market would have shifted and how much the rapid change in market conditions coupled by the skewed sense of reality and expectations set by the extreme sellers market of the last two years would impact the consumer perspective on the local real estate market.
A balanced market challenges sellers to prep, price, and market their property in accordance with its true value meaning that unlike an extreme sellers market where you can sell literally anything, homes that haven’t been updated in 10+ years will not have the same selling experience as a home that is properly prepared to attract today’s home buyers and stand out from the other options available at its price point, which I think most consumers can appreciate. The best time to sell a home is when you have the least amount of competition and with inventory expected to rise, you can expect to see more price modifications, negotiations, and longer days on market.
If you are selling your primary residence, the assumption is that you’ll still need a place to live which is where you’ll really reap the benefits of a balanced market. Unlike your counterparts who braved the frenzy of the last two years and helped your home come up in value by nearly 50% when they sold, you’ll get to take the equity that you’ve gained and have more options to use it than any of them ever had. There has been a 220% increase in supply over the past 4 months taking us from the most malnourished supply situation we have ever experienced to a thriving market of choice.
One of the most beautiful things that happens when a market shifts, is the onslaught of solutions that present themselves for the people and scenarios that are challenged by the change in market conditions. The solutions to the problems we were facing, feel like the problems when the market shifts but in reality - they are the opportunities.
In a strong sellers market, we focused on the opportunities for sellers to buy before they sold, introduced lease back options to give people the ability to find a new home after they sold theirs, and found new ways to leverage “expendable" equity to solve the challenges created be a deficit in inventory. But these solutions came with their own challenges - cash buyer programs made it difficult for financed consumers to compete without a ton of cash to bring to closing, lease backs created a backlogged market where you could buy a house but you couldn’t move into it for months, and sellers felt forced to give up their hard earned equity just to smooth out the logistics of a move.
Now we’re turning our creativity to lowering interest rates for buyers through 2/1 buy down programs and seller rate buy downs through concessions, plastering the motto “marry the house, date the rate” all over social media and helping buyers and sellers see the benefit of working together again in the hopes of preserving as much of that equity as we can and giving traditional buyers a fair shot. A balanced market carries many, many benefits for both buyers and sellers in its inherit slower pace and solution oriented selling conditions - which is why we don’t typically sit in balance for long in Arizona. A market of choice and opportunity is the breeding ground for the next sellers market.
So, how has the Southeast Valley fared through all of this change? Well much like its counterpart cities - inventory has risen to pre-Covid times as it should for our population growth and while annual sales numbers are very similar to that same time frame, buying has slowed significantly in recent months moving our months supply from just 2 weeks to just under 2 months making it feel like we are in a buyer’s market. We are, however, still sitting in a low to moderate seller’s market with lower than average inventory AND lower than average demand with inventory still leading pricing with both monthly sales $/sf and annual sales $/sf up instead of down. Homes are still selling on average at or above list price depending on the neighborhood, preserving much of the equity that residents have gained over the last two years - but it's the trend in buyer activity and ultimately the stabilization of interest rates that will determine how long that lasts.
Amy Jones Group Events
1 Ton Water Challenge - Amy Jones Group
Scan the QR Code to purchase your pallets of water. Be sure to enter "Water drive - AJG in the notes section and Community On Purpose 501c3 will match your donation!
Can't swing a pallet?
Donate any amount!
All funds will go to purchasing water bottles for the homeless.
Click "Add to Cart".
Select the number of pallets you wish to donate or choose your amount and check out via PayPal.
We'll pick up the water and get it to those in need!
Thank you for your donations!
Women in Leadership Breakfast - Chandler
Join the Amy Jones Real Estate Group for our Women in Leadership Breakfast Event!
This event has been an incredible way for women in business to come together and network, share and empower each other to succeed in their business and life.
Come by Parlay Kitchen to meet our team of fantastic agents, as well as other like-minded women!
Stay tuned for more details and special guest speaker!
Sensory Sundays - Krazy Air
Introducing Sensory Sundays!
Starting Sunday, July 10th we will be adjusting our music & lights for all of our friends that need a more sensory friendly environment... EVERY Sunday!
$10/jumper+ the cost of Krazy Air socks 1 free caretaker per jumper+ the cost of Krazy Air socks
We invite you to share this *NEW* special with your friends & family that would benefit from this!
Summer Sippers: a Fusion & Flavor Experience
Start your Sunday with FLO's signature Fusion Restore class with Kara (30 mins cycling + 30 mins gentle stretching) followed by Summer Sippers - refreshing drinks to keep happy and hydrated.
Tastings will be offered by Sommelier Andrew McCreery and will include 2 beers, 1 cider and 2 wine based coolers. A light charcuterie and snack selection will be provided by d'Vine Gourmet.
Class starts at 10:30am
Arrive early! Late arrivals will not be permitted in class.
Mats & cycle shoes will be provided if you do not have your own
Each participant much purchase their own ticket; must be 21 to book
Early bird pricing $35 (reg $45) is in effect for a limited time.
No Refunds. All sales are final.
🏡 HOT Listings 🏡
🏡 Open Houses 🏡
🏡 Know Your Home Value 🏡
😲 In Case You Missed It!
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