Weekend Warrior | September 21 - September 22, 2024

Welcome to Fall(ish) in Arizona, Weekend Warriors!

Talk about a temperature shift this week as we finally started trending down under 100 degrees. If you are anything like me, this tiny (but massive!) shift each year signals the beginning of quite literally the best weather in the country and I know that means some of the best outdoor events are soon to follow. As a mom to a five year energetic little boy, I know we have felt cooped up these last few months without being able to have free rein of our neighborhood parks - just one of the many reasons we chose to make the East Valley our home. Born and raised in Phoenix, I was drawn to the East Valley for so many reasons but the parks? They were definitely at the top of the list. 

It has been another busy week in Arizona real estate with a very noisy announcement that went out this week about the Fed Funds rate. You might have seen an email that we sent out explaining that while not directly connected to mortgage rates, we do in fact expect mortgage rates to continue their already downward trend (despite a little tick up this week) - putting rates today more than a percent lower than they were a year ago and creating a ton of opportunity for folks who've been waiting for the right time to make a move. We're expecting more buyers to enter the market and more houses to be listed which means more competition when you are shopping for the one. 

While good news for both buyers and sellers as we'll likely start to see an increase in property values due to this increased competition, we know it's going to get a little tricky for buyers on the properties that are in HIGH demand. Think closer to the downtown areas, new construction - lots of places we know YOU want to be. Keep scrolling for the rest of our take on the market and if you haven't snagged your tickets to next weekend's FREE movie event, please do - and we can always talk shop there (HINT HINT: GRAB YOUR SEATS NOW!).

 📊 Market Update: What's Happening in the Valley? 📊   

In our latest market update, we break down the key trends shaping real estate in the Valley. Over the past month, we’ve seen a jump in the median sales price, bringing the average price per square foot to $294. This is typical for the season as we move toward peak selling season in the new year. Lower mortgage rates have reignited buyer interest, and more homes are going under contract month-over-month and year-over-year, signaling increased market activity. Move-up buyers are helping create new inventory for first-time buyers, especially in central locations and the southwest Valley, which is becoming a buyer’s opportunity zone.

Whether you’re buying or selling, staying ahead of these market trends is crucial. I'm curious, how has the recent increase in available options for both loan programs AND houses changed your moving plans this year? If unemployment rates continue to rise and uncertainty grows over a November election, you might have until the kickoff of 2025 for a return of perfect weather, tourism, and a bustling real estate market - which will bring more competition and a little less of those relaxed and accommodating vibes.  Click the link below and let us know the deets!

This week we announced the launch of our Community Heroes Appreciation Program with a special gift of gratitude for military members, veterans, educators, medical professionals, first responders, and government/civil servants when buying or selling a home with us. 

In recognition of these invaluable contributions, we offer a $1,000 credit towards closing costs as a thank you for the service to our country and community. This program was originally founded to honor our military heroes, inspired by Amy Jones’ late father, Richard (Mac) McGarrigle, a U.S. Navy veteran of World War II and we’ve since expanded it to include all community heroes who make a difference every day.

Additionally, we partner with title companies, lenders and even moving companies who offer special programs designed to assist community heroes with their moving and community connection needs. These programs can help make homeownership more affordable by offering lower down payment requirements, reduced interest rates, and other financial assistance to ease the burden of a big move.

If you or someone you know would qualify for this program, please reach out so we can share details with you and share our gratitude for your role in our community. 

😲 In Case You Missed It!