Average Price of New AZ Home Has More Than Doubled
Fulton Homes, Arizona’s largest privately owned and operated homebuilder, had observed the average price of a new home in AZ jump from $170,000 to almost $430,000. Prior to the pandemic, the homebuilding industry showed trends toward smaller, simpler houses. Now, however, that trend has grown along with price tag. As more people spend their time […]
Five Trendy Arizona Real Estate Markets
Arizona is a beautiful place to live with many hot spots, but where are the trendy Arizona real estate markets? First, let’s back up and see what got us here. The last couple of years has been a roller coaster. Between a worldwide pandemic and a turbulent presidential election, the economy has been shaken. And […]
Phoenix House Flipping Market Ranks 3rd Despite Falling Profit Margins
The Phoenix house flipping market ranks near the top in the country, according to a recent ATTOM second quarter 2021 report on the topic. In Q2, 79,733 single-family homes and condos were flipped nationwide, accounting for just under five percent of all home sales in the same quarter. Over 8 percent of homes sold in […]
The Effect of Build-To-Rent Housing in AZ Real Estate
Build-to-rent housing is becoming a legit player in the real estate market. Build-to-rent homes are those that are designed from inception to be single-family rental homes, often grouped in a community. The difference? All the residents are renters. And while the build-to-rent umbrella can include townhomes and duplexes, September’s event featured four experts focused mainly […]
Arizona Home Prices Going Into the Fall Season
Arizona home prices nationwide have continued to surge through the summer of 2021, and it’s not showing any signs of slowing down. There’s a number of reasons for this, but one often overlooked is in areas with military bases, as the summer is when the military does PCS, or permanent change of station, leaving many […]
Phoenix Leads Home Price Increase for 25 Months and Counting
Phoenix topped the list of cities with home price increases, in June 2021 where according to an S&P CoreLogic Case-Shiller report, at over 29% year-over-year, which marked the 25th consecutive month. Nationwide, with an 18.6% annual gain in home price, we saw the largest increase in more than 30 years. All cities analyzed showed double-digit […]
What exactly does refinancing mean?
Americans today are more motivated than ever to pursue a mortgage refinance. Doing so can lead to lower monthly payments through reducing the interest rate, cutting down the loan length, removing cash from the property’s value, and even adjusting the type of loan against the property. Homeowners often overlook the value their property provides as a […]
Pathway to Purchase To Help Homebuyers in Foreclosure-Hit AZ Cities
In order to provide qualified homebuyers a “Pathway to Purchase” (P2P) their home, the Arizona Department of Housing (ADOH), in conjunction with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC), to provide down payment assistance toward a primary residence in seventeen specific municipalities in AZ. The goal is to provide incentive to buyers who have […]
How Millennial Home Buyers Are Getting in the Real Estate Game
The popular belief is that Millennial home buyers— people between the ages of 22 and 40— would be quite a small number. There’s an even smaller belief that they’d be making big moves in the real estate game, but they are. For the seventh year in a row, Millennial buyers have exceeded Baby Boomers, according […]
Phoenix Among Cities With Fastest Rising Rents
It may not be surprising that several major metro areas with the fastest rising rents were in Florida, California, and even Phoenix, Arizona. The national average monthly mortgage payment for homeowners jumped 67% faster than rents during the same period, says a recent Redfin.com report, in spite of mortgage rates dropping to near-record lows. August, […]