Greater Phoenix Real Estate Trends, Insight and Explanation
Frank Aazami & Fletcher R. Wilcox, Private Client Group, represented the sellers on this Spanish-style hacienda of timeless design by Architect Bing Hu. May the buyers enjoy this home and the magnificent views of Pinnacle Peak for many years!
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REGISTER: https://lnkd.in/grntTBjE
Register now for the 2025 Market Forecast Seminar by the AZ Journal of Real Estate!
Listen to speakers on where the residential market is and where 2025 may take us! The 2025 Market Forecast will kick off by an interview with Tina Tamboer. I will ask Tina questions on sales, inventory, prices, days on market, hot spots. Then a new home update with Jim Daniels from RL BROWN Housing Reports. He will compare new home sales this year to last year, and what may we expect in 2025. There will be an update on AZ population and job growth.
There will be a panel of lenders talking about real estate money markets. the difference between the Federal Reserve federal fund rate and mortgage rates; 2025 mortgage rate predictions; renting versus buying; how lenders are handling seller concessions versus seller compensation; and what is your 2025 strategy?
Finally, a panel of real estate professionals and their 2025 predictions! Seminar offers three general renewal hours.
Thursday, October 31 from 9:00 to 12:00 p.m. at the Scottsdale Association of REALTORS!
Register: FREE: Design-Build Luxury Homes Architecture Panel – Scottsdale REALTORS®
Just published is the July issue of the AZ Journal of Real Estate & Business. In my article I have two new tables showing trends. The first one shows how single-family homes in Greater Phoenix were purchased by price range. it shows if the purchase was by cash, conventional loan, FHA or VA loan. This table also shows the estimated months of supply by price range.
The second table shows by price range if
there was or was not a seller concession. This table also shows a range of concession amounts. For example, for sales from $700,000 to $799,999, 38% had a seller concession. Thirteen percent of all sales in this price range had a seller concession from $10,000 to $19,999. This information is helpful when negotiating a contract.
Arizona School of Real Estate & Business : July 2024 Issue (mydigitalpublication.com)
Fletcher R. Wilcox
602.648.1230
Fletcher.Wilcox@russlyon.com
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In the June issue of the Arizona Journal of Real Estate & Business, I report on the U.S. Census Bureau’s release of the top counties for numeric population growth. What do their numbers say for the three-year period, July 1, 2020, to July 1, 2023? They say both Maricopa and Pinal Counties are top counties for population growth!
· Maricopa County outperformed all other counties in the U.S. by adding 140,812 people over the three years. Approximately 90% of the increase is net migration. See Table One in article. (Table One also shows population gain over one-year in which Maricopa County finished fourth).
· This sustained population growth indicates that Maricopa County has been an attractive destination for people seeking new opportunities, better living conditions, retirement, or other reasons.
· Companies recognize Arizona’s potential and choose to establish or expand their operations here. This influx of businesses creates job opportunities, which, in turn, draws more people to the state.
· Pinal County, with its population of 484,232 people, deserves recognition for its population growth.
· Over the three-year span, Pinal County gained 54,052 people.
· This placed Pinal County at the eighteenth position among all counties in terms of numeric population increase.
· This sustained population growth over three years indicates the county’s attractiveness as a place to live and work.
In summary, Maricopa and Pinal Counties combination of job growth and quality of life makes both counties attractive destinations for both individuals and businesses.
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hashtag#carefreehomesforsale hashtag#viewproperty hashtag#sothebys
Click link and go to page 8 for full Arizona Real Estate Journal: Market Insights and Trends (asreb.com)
Join me for an evening at Paris Paris women’s fashion store in Gainey Ranch. There will be spring fashions from France, Italy, Germany and Canada! Enjoy an evening of shopping, lite bites, and bubbles while shopping. Enjoy a 20% discount on all purchases, plus, the first 40 guests will receive a lovely gift! Paris Paris was founded by my friend French owner Claude Amiel.
When: March 7 from 4:00 to 7:00 p.m.
Where: Paris Paris in Gainey Ranch 8787 N Scottsdale Rd 108, Scottsdale, AZ 85253
If you are part of the Arizona Association of REALTORS Broker to Broker Forum, I hope to see you tomorrow! Rick Mack, Esq. will give a legal update and I will give an Arizona job and population update. Serena Jones will be the moderator.
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