Month: March 2020

Fully Renovated in Phoenix

This remodeled home boasts a french country theme with amazing light and great function. Two large custom barn doors allows versatile use in this home. The brick wood burning fireplace is perfectly located in the enormous living area. New dual pane windows, new 5 ton HVAC, newer roof, USB, and a Nest thermostat are all great features that set this home apart. The gourmet kitchen offers, carrara quartz peninsula, stainless appliances, dove gray custom soft close cabinets, glass back splash, LED can lights, under cabinets lights, and a 1-2/3 sink with chef faucet. The eat-in kitchen has a wall of windows with two arcadia doors that allow an abundance of light.

The master bathroom offers, large shower with dual controls, rain head, dual his and her sinks, LED lights, master walk-in closet offers lots of built-ins and light. The master has its own exit to the patio and back yard area. The second bath has dual under mount sinks, custom herringbone tile tub surround, new tub, custom shaker soft close cabinets, tile floor, custom mirrors and lights. The home has new 5 panel shaker doors, casings, baseboards, luxury laminate wood floors, tile in all the right places, 2 tone designer paint on interior and exterior, hardware, ceiling fans, buyers choice of carpet color, outlets, switches, disposal, and so much more.

The back yard is graced with mountain views, auto drip system, curbing, gate at rear off alley, and side entry with space for storage. Amazing food and entertainment in all directions. Less than 3 min from 51 on ramp, get anywhere in the valley quick and easy. This home truly offers it all! Seller finance is available for a deserving buyer.

For more information: Click Here

Full Remodel in Mesa

Gorgeous, updated Northeast Mesa home perfectly placed with north / south exposure in a gated community! This awesome floor plan, at just under 1800 square feet, has a loft, formal living room with grand entry, updated kitchen with dining area and so much more. Recently updated flooring throughout with soaring ceilings and plantation shutters. The recently updated kitchen includes gorgeous counters, backsplash and modern cabinetry with a huge walk-in pantry. All appliances are included along with the washer and dryer! All bedrooms are located upstairs along with double door master and updated master bath offering double sinks, accent wall and walk-in closets. Both guest bedrooms are charming and the guest bathroom is updated too!

The cozy back yard has planting boxes and an extended concrete slab perfect for a fire pit or your bbq grill set up. Located just minutes from the 202, Skyline Park, the Aquatic center and Red Mountain Park. Enjoy hiking, biking and our beautiful Arizona lakes without having to drive too far!

For more information: Click Here

How Coronavirus is affecting AZ Real Estate

Hello friends, family and clients of Team EvoAZ at eXp Realty. We hope this message finds each and every one of you well. We felt it important to connect during this time to give you accurate information concerning the real estate market here in AZ especially since we have been getting so many questions from many of you. This is NOT fake news. Be careful out there, there is a lot of assumption going around.

Please contact me with any questions about the current market conditions and your personal situation.

PS: We will always be here for our clients as a trusted, experienced resource. We will never close our doors to our clients and friends and will always continue to serve even in times like these when we have to be creative. Due to the current circumstances, we have alternative ways to market our listings and help our buyers find their dream homes right now and have not slowed or closed like other companies have such as Zillow, Open Door and Redfin. We are humans, just like you, and we will continue to be humans serving humans for the duration.

REAL ESTATE UPDATE

CREDITS: This article is originally from Michael Orr 

Important information regarding our real estate market from the most intelligent person on the subject: Arizona Real Estate Economist, Michael Orr 🏡

March 18 – A number of people seem to assume that we are heading for a recession and that home prices will fall. The first assumption is quite reasonable. The second assumption is based on fear and has little analytical data to back it up. Obviously anything can happen in a uncertain and disrupted world, but a fall in home prices is still looking very unlikely from today’s numbers.

In 2005 the housing industry started to sicken because homes were being used as speculative commodities not for places to live. In 2005 I met a man in his early 20s who owned 12 homes in the Phoenix area, all with no occupants. How had he been able to buy them? 100% loans from unscrupulous lenders who went bust between 2007 and 2010. The housing industry (and more particularly the lending industry within it) was the cause of the 2008 recession. Phoenix was a hot spot for the cause of the problem, as was Las Vegas.

In 2020, housing is an innocent bystander to a probable recession caused by a pandemic. It has supply at extremely low levels and most homeowners have a large amount of equity. Even if they lost all their income and could no longer pay their mortgage, they could quickly find a buyer to release that equity. There is little likelihood of them facing foreclosure because the lender can be paid off with the sale proceeds. Only when demand collapses do the banks have to foreclose to get their money back. At the moment demand is still well above normal and has only shown very tiny signs of easing. In 2006 demand fell off a cliff yet home builders continued to build even more new homes because lenders continued to write ill-advised loans in huge numbers.

In 2020 builders are probably going to have to build fewer homes than they wish because of shortages of labor and materials. We are unlikely to see a glut of homes on the market for a very long time. A successful vaccine for the novel corona virus is more likely to appear before a surplus of homes could possibly develop.

Because the virus has not been contained yet, except in several parts of Southeast Asia, we are likely to see a lot of people out of work. We do not yet know how long it will take to get control of the pandemic in Arizona, but many people may be out of work for quite some time. These people are more likely to be renters rather than homeowners. Landlords may find it much harder to collect rents and the yields from their portfolios are likely to fall. Some may decide to evict tenants and sell their properties. At the moment the extra supply would be welcomed and receive multiple offers, even in these troubled times. The evicted tenants still exist and therefore still represent demand for shelter of some sort. There will be hardship, but not a flood of homes with no-one to live in them.

Housing demand is created by the existence of people and increases when more people turn up and decreases if they go away. In 2005 the people we were building new homes for were largely imaginary. In 2020 they are very real and migration trends have been very favorable with families and individuals moving to Arizona from other parts of the USA.

All the indicators for the Central Arizona housing market remain very healthy at the moment and we will report any change as soon as we spot one. There is no cause for panic and if you are delaying a purchase because you think the price will come down, you are probably making a poor decision.

On Sunday there was a big announcement by the Federal Reserve, and here’s the break down on the impact this will have on rates.

The FED took two big actions:

1) The Federal Reserve cut its benchmark interest rate to near zero

2) They plan to purchase $700 Billion in Mortgage Backed Securities & Treasury Bonds

The Benchmark Interest Rate actually doesn’t have a direct impact on mortgage rates, it mainly impacts short-term and variable rates (for example, auto loans and lines of credit). But the purchasing of mortgage backed securities will directly lower rates.

It’s yet to be seen when and how the $700 Billion will be spent, but the FED is going to try to keep mortgage rates from going up (there was a .50% rate increase between Tuesday and Friday of last week). Their goal is to keep them low to keep the housing market strong.

We’re hoping to see rates in the low 3’s or possibly the high 2’s in the near future. If you have questions about the current market conditions, please message me anytime.

$750,000 Max
5+ bedrooms 3+ bathrooms
Home with downstairs ensuite or bedroom bathroom and also pool

 

$700,000 Max
3+ bedrooms, 2+ bathrooms
Zip Code 85254 & 85260
Recently remodeled and not a lot of landscaping maintenance

 

$245,000 Max
4+ bedrooms, 2+ bathrooms
South Phoenix
No HOA

 

$260,000 Max
4+ bedrooms, 2+ bathrooms
South Phoenix, Laveen, Deer Valley, Desert Ridge, North Phoenix

 

$500,000 Max
3+ bed 2+ bathrooms with detached studio/guest house
DT Mesa Historic Districts

 

$350,000 Max
4+ bed 2+ bathrooms
No HOA
Mesa, Gilbert, Chandler, Scottsdale, Central to North Phoenix

 

$185,000 Max
2+ bedrooms 1.5+ Bathrooms
Condo in Chandler, Ahwatukee, North Phoenix

 

$160,000 Max
1+ bedroom 1+ bathrooms
Condo in Dobson Ranch area or close by

$200,000 Max
1+ bedroom 1+ bathroom
Located in Cloisters Subdivision in Biltmore

 

$200,000 Max
3+ bedrooms 2+ bathrooms
San Tan Valley, Florence, Queen Creek

 

$250,000 Max
2+ bedrooms 2+ bathrooms
Fountain Hills Condo, Town home, or Patio Home

 

$400,000 Max
3+ bedrooms 2+ bathrooms
Located in Loma Verde Gated Subdivision in Mesa

 

300k and under, Chandler/Gilbert 3/2 single level

 

 

We know that many of you are home with the kids while school is shut down. Here is a HUGE list of educational resources that will more than help keep them busy and learning during this time. Best of luck, parents!

Please call or text me if you or a friend has a real estate need or question or you need a referral for any product or professional service. 

Take care and we’ll see you when this is all over!

What We Do For Our Sellers

Timely communication is very important to us. We have a full-time staff that responds to all buyer inquiries on your home quickly to answer questions and schedule showing appointments.

Showing requests are delivered immediately to your phone by voice, text or email. Showing feedback is delivered to your email as soon as it’s received.

Our single property websites have a built-in capture system and our buyer response team is notified as soon as a prospect logs into the site to view your home.

We use pro photography on all of our listings because it’s just too important not to.  Drone video and stills as well as 360 photography is available when suitable.

Video including live home tours on Facebook, Instagram and Zillow are a must for maximum exposure.

In certain circumstances we even promote our listings on cable television to prospective buyers not only Valley-wide but in other states as well.

Select posts are boosted on Facebook and Instagram.

We share staging and organizing ideas, a staging checklist, a checklist for preparing for the pro photo shoot and a list of other trusted professionals to help if needed.

We provide open houses.  When marketed appropriately, an open house can bring great exposure to your home.  Not all buyers shop from the MLS with a Realtor!  We post the open house in all the places buyers are looking.

We distribute “just listed” notices to prospective buyers and target networks.

You’ll find our monthly production statistics and tons of local real estate related content on our blog.  Reviews of our service can be found on Facebook and Zillow.

Team EvoAZ closed 78 transactions in 2019!

Contact Katie, at 480-250-0023 or Katie@EvoAZ.com, for the next steps to list your home with Team EvoAZ at eXp Realty.

The Spring Housing Forecast is coming in like a Lion!

But, we don’t think it will go out like a lamb.  Interest rates are at their lowest in years upon years, housing inventory is about there too and the new home builds are going up fast and furious.  Buyers, strap on your seatbelts, this is going to be a wild ride but better to take it now than when prices (and interest rates) are higher.  Oh and sellers, if you are thinking you need to call one of those online companies that buy your home for pennies on the dollar, think again.  You don’t.  Your home will sell.  Call us.

Selling a Home to an iBuyer – The True Cost of Convenience

It sounds so easy. Just click, click and sell, right?

Have you ever heard that saying, “if it’s too good to be true, it probably is”?

These two photos are actual examples comparing Team EvoAZ at eXp Realty to an iBuyer company.

This transaction was complete in 65 days from start to finish. During that entire time, the seller received advice, support and service by our highly responsive, experienced team. This was also during the end of 2019 / beginning of 2020 which was the holiday season when real estate sales tend to slow down.


iBuyer__2458k_example.jpeg

This is the actual offer that was received from the iBuyer company. 👇


La_Reata_Open_Door_offer_.png

Here is another great example. This is also an actual example from a real transaction. This home was under contract within a week and was complete in 43 days, start to finish. We listed at the end of November and closed at the beginning of January so it was also during the “slower” holiday time of year.


iBuyer__2432k_Example_.jpeg.jpg

This is the actual offer that was received from the iBuyer company. 👇


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Moral of the story? Do your homework. Ask questions. Talk with trusted professionals that you know have been trusted professionals for many years and will be around for many more. Don’t assume. The cost of “convenience” in both of these examples could be a new car, a college education, a large downpayment on the next house, retirement, etc.

As always, call Katie with all of your real estate questions and needs.