October 17-18

Our Team is Growing

We are hiring!

Real Estate Professional

The Amy Jones Group is growing! With more than 150 families served in 2019 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 or reply to this post directly!

Email your resumes to - [email protected]

Market Update

Driving around the East Valley, it’s easy to see that activity is starting to pick up as we make our way into the last few months of 2020 which has many hoping that there is finally a light at the end of the tunnel after the tumultuous year we’ve had and others expecting to wake up on January 1st with more questions than answers about the year ahead. The campaign signs aren’t the only thing coloring the sides of the road, we’ve got lines outside of restaurants, movie theaters, and even the Grand Opening of new amenities at the Gilbert Regional Park this weekend including a 7-acre lake, 10-acre event lawn, and 6 sand volleyball courts! Like Serena Williams said, “It’s not a comeback if you didn’t go anywhere” well we say, welcome back. 

The real estate market has been holding things down for us while the events, group activities and much of what we did for school, work, and recreation either went away entirely or took a massive hit to normalcy in light of the global pandemic. COVID-19 hasn’t been very friendly to many and in fact, our town has suffered the loss of some of our residents, the closing of our schools and the struggling of many of our local businesses. Other sectors including real estate have seen disproportionate levels of success through the pandemic with record number of sales, historically significant levels of appreciation, and a market that continues to thrive despite the uncertainties that many face in their home and work lives. October is typically the tail end of one of the slowest times in the annual real estate calendar but nothing follows a normal pattern in 2020 and real estate certainly is no exception.

Despite the cooling temperatures and the holiday aisles being set up at Target, the real estate market is defying the laws of seasonality by posting unforgettable numbers representing once in a lifetime opportunities for Valley residents. While we are seeing continued construction and new home communities popping up all around us, builders are still building less inventory than they did between 1996 and 2007 meaning that the likelihood of them helping us catch our breath and give buyers some room to exhale between writing multiple offers, competing with over asking contracts, and waiving contingencies - is slim to none. There is a great value proposition for new construction right now with prices rising slower than the resale market and the lack of updated inventory at some of their most marketed price points, it’s unlikely that we’ll see folks shy away from entering into drawings for homesite lots, being afraid of non-refundable deposits, or pushing back on the builder-friendly contract terms that they are being presented with.

Right now, getting the deal is the deal and that’s going to continue to be a hard pill for people to swallow but potentially a very profitable one. We need only reflect on those local residents who bought their home just one year ago who can now refinance their property and often remove their mortgage insurance because their 5% down payment has quickly turned into 20% equity thanks to sky rocketing appreciation - to understand the case study for making a move right now. We are posting more and more listings every day, outrageously high numbers for this time of year, and yet the demand remains strong enough that we simply can’t make a dent in the inventory that we need to replace. Sellers are asking 15-20% more for their homes, 35-45% of homes are selling for over asking, and we don’t expect this trend to reverse any time soon. Families are making life changing decisions to capitalize on historically low rates and jaw dropping appreciation numbers setting themselves up for the uncertain times to come. 

If you own your home, find out how much its worth, how much you owe, and what your interest rate is because refinancing might be an option for you. If COVID has changed your working or schooling needs, take inventory of what you need in a home that you don’t have and determine if you can make those changes to the house that you have or ultimately, if you’ll need to move because your buying power has never been greater. If you are renting, add up what you’ve spent in rent in the last year and if it's less than the appreciation you would have seen in a home you purchased when  you signed your lease - consider what it would take to become a homeowner because it's cheaper now than it's ever been. Think about what a change of 1% in interest rates would mean for your buying power, what 1% decrease in sales price would mean for your equity, and what 1% rise in rental rates would mean for you as an investor because change is coming. 

The only thing that’s constant is change - knowing what that change would mean for you lets you plan for the worst, expect the best, save more than you think you can, give more than you’ve ever given, and continue to be grateful for the choices you have to make.  

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