Real Estate News You Need
Welcome back, readers - and THANK YOU for joining us for another edition of WHAT'S UP SOUTHEAST VALLEY. We launched this project in 2017 with the intention of giving you the real estate news you REALLY need WHEN you need it and have had so much fun bringing it to you!
Last month we talked about the market, invited you out to our Wine & Learn Happy Hour for first time home buyers, and introduced you to some really great loan programs to help you juggle selling your home and moving into your new home, with our friend Amber Kovarik.
Thinking of making a move but not sure how all the pieces will fall into place or just want to check out all of the other fun stuff we wine and whine (get it...) about every month? Check out all of our WHAT'S UP SOUTHEAST VALLEY editions from your #1 Real Estate Team in the Valley, the Amy Jones Group.
So, last month we reported that inventory (available homes) was continuing to decline in 2018 and we expected the year to be just as competitive for buyers and fruitful for sellers as it was in 2017, if not more. We were (in)patiently waiting to see if this prediction was altered by a drop of new inventory after the first two months of the year when we did our last Facebook Live and were still hopeful at that point that we MIGHT see some more people put their homes up for sale as the month progressed. But, just like staring at the stovetop watching the hot water boil, it doesn't help to sit around waiting for things just to HAPPEN, so ... we got to work.
We started calling, door knocking and holding open houses (with those pastries you see right there) on behalf of all of our buyers looking to make the Southeast Valley their home, all of our sellers who are starting to run out of space in their "three-year-homes" that they've stayed in 10 years and even those folks who are thinking they've got too much space, space in the wrong location, and just generally the wrong kind of space for where life has taken them. And guess what, it worked!
We are excited to announce that we'll be helping 17 families this March and we'd love to help YOU or someone you love if we haven't already - or help you AGAIN! So, the next time you see these ladies walking around your neighborhood, putting up a COMING SOON sign, or find them on the other end of the line - take a moment to chat with them because they've got lots of good news to share. Just call us real estate match makers.
Okay. So What's All the Good News, Then?
The MARKET, that's what! Not the super market or the stock market or even the market for planes (we'll have to give you that story another time) but the REAL ESTATE market! We finally DID see an increase in homes for sale during the month of February but only by about 1.3% valley-wide. The kicker is that once you take out the ones that are already under contract like our friends Frank & Cecilia or Bryan & Susan (keep reading), we're actually down even further than last month in available homes by 1.7%. Think of the gas tank gauges below as a visual representation of the market - event with demand right in the middle (right side), the supply is so low (left side), that the market feels HOT (center) with fewer days on market, higher sales prices and more competition. The good news is that its all in healthy increments - although a little frustrating for buyers at times.
And what we're finding is that people looking in MOST price ranges are feeling this frustration (er, challenge) but there is one exception! People are selling MORE homes between $1 million and $2 million by about 2% right now, meaning that if you are looking for your luxury abode - you might have the upper hand. For everyone else, though, we can expect continued upward pricing for the foreseeable future which means instant equity for you home buyers and a little extra cash for that summer vacation for you sellers.
But wait, there's more! Let's chat. In fact, we've got a theater reserved at the Harkins San Tan Village Saturday, March 10th for our friends, family, past clients and their friends and family looking to make a move this year and it would be the PERFECT time to get to know our team a little better and find out how we can help you with your move this year. PLUS, we've got giveaways and you get in on opening weekend to a private showing of A Wrinkle In Time! Check your calendars, and let us know if you can make it!
So, each month as we're putting together our What's Up Southeast Valley edition, we're thinking through all of the conversations we had with folks throughout the month and trying to think of the themes that just seem to keep coming up over and over again that we can help shed some light on. As we've been out scouring the Southeast Valley for homes for our clients, we've found that there are a lot of questions about home warranties - what they are, who needs them, who can have them, and how to use them.
We always encourage our buyers to get a home warranty on their house when they buy it but did you know that you could get one if you've already been in your house for years? How about getting coverage for the first 5 years on that brand new home you just built or getting coverage on your home JUST while it's on the market in case anything breaks while you are trying to sell it? YES! All of these coverage types are available and we've brought our friend, Calee Parker, with Fidelity National Home Warranty to debunk the five most common Home Warranty myths we heard from YOU this month.
HOME WARRANTIES ARE TOO EXPENSIVE
Actually, replacing large systems and appliances can cost thousands of dollars where- as, most home warranties average between $300 to $600 annually. Did you know the average homeowner spends 1% to 4% of their home’s value each year on maintenance and repairs? That’s potentially $1980-$7920 in unexpected expenses! Yikes. With coverage options for homes you've been in, homes you are buying or selling, or homes you are building - we think you'll LOVE the savings.
HOMES WITH NEW APPLIANCES DON’T NEED A HOME WARRANTY
Appliances are not immune to breaking down just because they’re “new”. According to Consumer Reports, 20% of dishwashers and 31% of side-by-side refrigerators with icemakers tend to break in just four years. This is because consumer-product companies are constantly releasing new products, resulting in shorter product life-cycles and more money out of your pocket. Don't get me started on the last time my refrigerator broke down and we lost all of our weekend BBQ in one fail swoop - I'll just skip to the point where Fidelity saved the day.
FILING A SERVICE REQUEST IS TOO COMPLICATED
With the right company, filing a service request can be pretty simple, in fact - it SHOULD be simple. With Fidelity National Home Warranty, you can make easy, around-the-clock service requests online at homewarranty.com and by phone. With your army of supporters on your side (okay, it's just me Calee and the Amy Jones Group - but that's a pretty big cheering crowd), we'll make sure you have help placing orders, following up with them, and celebrating when it's all fixed. BBQ at your house?
I MAINTAIN MY OWN APPLIANCES
Even if you do a great job of preventative maintenance and HAVE the time to maintain your appliances, unexpected breaks, leaks, and malfunctions can occur. It’s hard to make sure ALL of your appliances and units are getting the maintenance they need, so look at this like a nice little safety net. Show your appliances some love!
I ALREADY HAVE HOME INSURANCE
Home insurance and home warranties both contain the word “home”, but that’s where their similarities end. Home warranties cover the repair and replacement of your home’s major systems and appliances. Home insurance, on the other hand, covers the repair of your home and replaces your property after events such as res, theft, storms, and other natural disasters. We think you should have both.
Have a myth that needs busting or need some home warranty advice? Calee is your girl. Peep her on our Facebook Live or reach her by phone at 480.703.2954 and let us help you get home warrantied!
Home buying is supposed to be FUN and we want to help make the experience as stress-free a...
February Closing Shout Outs
We couldn't do any of this or have this much fun doing it, if it wasn't for you! Congratulations, Salute, and Mazal Tov to these buyers and sellers who made big moves in February!
Looking for something fun to do? So are we! We live, work and play in the Southeast Valley and this month we’ve got our eye on these upcoming events:
Inflatables, Selfie Galleries, a Petting Zoo, Amusement Park...
See you March 15-18, 2018! Rodeo, Vendors and Carnival March 16-18 Donate to ...
But, that's not all! - here's a few more events we're drooling (obviously we're still thinking about BBQ) over this month:
We're always keeping our ear to the ground when it comes to local news impacting our Southeast Valley 'hoods. Here are a few recent reports that caught our attention (including a shameless plug for Tedx Gilbert which we are sponsoring):
The Chandler Ostrich Festival celebrates 30 years in the Valley in 2018. ...
The 1st Edition of TEDxGilbert is coming your way on March 24, 2018. Attend the biggest co...
A new restaurant with an urban vibe in downtown Chandler is spicing up Taco Tuesdays and a...
For a place that is so retirement friendly, Arizona has several hardworking cities, and th...
A Valley business is helping moms who work from home, and their families, juggle it all. ...
Gilbert, Chandler and Scottsdale ranked as the first, fourth and 10th most prosperous citi...
Between new housing developments and an ever-growing entertainment district, the city of G...
Have somewhere you are excited to be next month, a story we just HAVE to read, or an idea for an upcoming newsletter topic? Reach out to us at [email protected] - we'd love to hear from you!