Real Estate News You Need
Happy New Year, readers! We launched WHAT’S UP SOUTHEAST VALLEY in 2017 with the intention of giving you the real estate news you REALLY need WHEN you need it. Last month we updated you on all things holidays and (wo)man, were we on the move! We shared our love for gingerbread caramels from D'Vine Gourmet, the real estate market's love for buyers AND sellers looking for a new address, and spread a little cheer with pictures from our team's FAVORITE people, places and things! Want the scoop? Check out all of our WHAT'S UP SOUTHEAST VALLEY editions and start the new year off with some love from your #1 Real Estate Team in the Valley. Oh, yeah - that happened too...thanks to ALL OF YOU!
Well, NOW we know it wasn't just the eggnog because experts are still predicting pretty rosy times ahead for buyers and sellers making a move in 2018 and beyond in the Valley. With less than 20,000 houses on the market to choose from, we're starting January 2018 with nearly 14% less homes to scroll through than we had going into 2017. This is NO surprise for our buyers in the Southeast Valley where that percentage is trending a bit higher and buyers are all scrambling for the nearly 40% less listings available in many areas.
What's so rosy about that you ask? Well, you can pretty much guarantee that with sales prices up more than 8% Valley wide and even higher than that South of the 202 - you are walking into that home purchase with some cash in your pocket. Need to put new granite counters in to really make it shine after you close? Want to upgrade your flooring, paint or add some DIY shiplap à la Joanna Gaines to your recent purchase? Now's the time to do it.
Keep in mind this general rule of thumb and repeat after me - "The lower my price point, the more competitive the market!".
You want numbers? There are exactly...
- 35% fewer homes on the market under $200K
- 7% fewer homes on the market between $200-$400K
- 9% fewer homes on the market between $400-$1M
... and in an interesting turn of events, 4% MORE for sale over $1M than last year (like this beauty) 👇
So, back to the rosy part - it seems pretty obvious now if you are a seller why there are GOOD times ahead for you, yes? Well just for a little cherry on top, we'll add that we expect the last wave of boomerang buyers to rejoin the masses in home ownership this year after waiting seven long years to qualify for conventional financing after those nasty foreclosures. These buyers span ALL price ranges and their return to the closing table and continued relocation to our sunny state (thanks Amazon, Google, USAA, State Farm & Charles Schwab!) keep the metropolitan area BOOMING for sellers.
What's New...No, REALLY New?
Let's recap. Market is good? Yes. Appreciation is good? Great. Number of happy sellers with a SOLD sign in their yard is down? Wait, what? Despite historically good market conditions, many buyers haven't pulled the trigger on making a move because they are having trouble finding what they need on the resale market - the good ones are going fast! Trust us, we are working hard on educating sellers about the goldmines they are sitting on (and how we can help get them sold) - but in the meantime, we are scouring the new construction market where availability is not only helping to keep appreciation healthy (read: not in a bubble) but also giving you more options to choose from.
So, where is all this new construction? We're so happy you asked. We put together our Top Five Reasons to take us with you before you stop into that model home and picked a few of our favorite new communities for you to stalk.
Che Bella Villas
Almost SOLD OUT! The final phase of this community comes on the tail-end of a 10 year project and features two and three bedroom options from the high $200s. Low maintenance is the name of the game in this urban condo and loft community with private enclosed patios, balconies and parking garages. Near major employers Intel, Orbital, GoDaddy, PayPal & Verizon - this community checks all the boxes for the urban dweller, the part-time 'Zonan AND the young professional.
Photo Cred: Che Bella Villas
Cooley Station by Fulton Homes
Despite the traditional feel of the development's name, this 900-acre Gilbert community sits smack dab between the ASU Polytechnic College and the bustling San Tan Village shopping area that has become all the rage. With neighborhoods ranging in price and style from the high $200s for easy courtyard living to the mid-$450s for luxury single & two-story homes, Cooley Station is a client FAVORITE with the addition of aquatic centers, walking trails and open spaces in each section.
Photo Cred: Cooley Station
Harvest at Meridian
Built by William Lyon Homes in Queen Creek who are LOVED for their fellow Queen Creek community at Hastings Farms, Meridian will have 11 family-friendly parks with more than 100 exciting amenities as well as miles and miles of trails & equestrian facilities for endless ways to "play, explore, and relax". Starting in the low $200s - you can get in and still have some money left over to build the backyard of your dreams. Sound like your jam? How about this bonus track - They've got a 55+ active lifestyle community COMING SOON, too!
Photo cred: Harvest at Meridian
Bellaza by AV Homes
This one is still on the drawing board, folks - another great reason to have a Real Estate Agent on your side when shopping the new home circuit (read above if you missed the other five reasons). The proposed development is just off of Ocotillo and Gilbert Roads in Chandler and is expected to include 55 single-story homes in a gated community each ranging in size from 2,500-3,500sf. Homes are expected to start in the low $400s and they are hoping to break ground in the 3rd quarter of this year with models up early 2019.
Legacy at Seville
What could possibly seal the deal on our love affair with Seville in Gilbert? We can't get enough of the water slides, the evening events for kiddos, the sweat-inducing work outs and the golf...well, we pretty much already love all of it. But with absolutely no more places to build new homes in Seville, Toll Brothers launches Legacy at Seville - 61 home sites with two private parks and your social membership is INCLUDED. Prices start in the mid $500s and go up from there - you can expect to pay a premium for the golf course homesites with views of the San Tan Mountains but they are so worth it. With basement options available and a 3D Kitchen Visualizer tool, we are all in on this luxury community.
Photo cred: Legacy at Seville
See something you absolutely MUST HAVE or thinking about what else might be out there for you? Let's get something on the schedule to talk homes, home buying, and all things NEW together - this is your year.
December 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 December!
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:
Save the Date: Annual Amy Jones Group Client Appreciation Day at the Moves 3/9/18 - Details Coming Soon!
We're always keeping our ear to the ground when it comes to local news impacting our Southeast Valley 'hoods. Here are a few that caught our attention:
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!