Weekend Warrior | October 19 - October 20, 2024

Now THIS is Fall Weather, Weekend Warriors!

Finally, that crisp fall air is starting to make its way into Arizona, and we couldn’t be happier! With cooler weather on the horizon, there’s no shortage of outdoor events to enjoy this weekend. From pumpkin patches to local markets, it’s the perfect time to soak up the fall vibes. Whether you’re catching a football game, hitting up a festival, or just taking a long walk, Arizona's cooler days have officially begun!

On the real estate front, things are staying busy! For our buyers, this is one of the best times to make your move. Inventory is up, and competition is cooling off—giving you more options to choose from without the pressure of multiple offers. With all of our indicators showing the Valley in a unique state of balance, there’s stability in prices, and every drop in mortgage rates is like putting your next home "on sale".

Sellers, while Fall is great for buyers, keep an eye on the New Year and get started preparing now. The first half of the year is your sweet spot, as buyer demand starts climbing in the first quarter and hits its peak in the second. With projections of lower mortgage rates in 2025, we might see the Spring market outshine recent years. So, whether you’re thinking of buying or selling, now is a great time to get the wheels in motion!

And don’t forget, we’ve got some amazing events coming up! We’re looking forward to seeing everyone at our volunteer opportunities at ICAN and the Clothes Cabin this month and next, the November Business Mixer at Expansive, and our Annual Fall Festival - the perfect event for you and your crew! If you or someone you know has a local business, we’re still looking for vendors to make this year’s festival better than ever so reach out if you want to join us! We love this community and can’t wait to see what you have going on this weekend—let us know, and we’ll see you out there 🎃 !

 📊 Market Update: Ready, Set Go! 📊   

Good News for Buyers: Rates Are Dropping, Contracts Are Rising

For the first time this year, more homes are going under contract compared to last year at this time! Mortgage rates stabilized in September, hovering between 6.1% and 6.2% for conventional loans and 5.6% to 5.7% for FHA, creating the perfect opportunity for buyers to act. Weekly accepted contracts jumped by 12%, showing that when rates dip below 6.5%, buyer demand picks up quickly. With the Federal Reserve’s recent rate drop, it’s clear that now is one of the best times to be a buyer in Phoenix!

With over 20,000 active listings, buyers have more choices than ever before and less competition. It’s a great time to find the perfect home at a price that works for you, and with mortgage rates in the low-to-mid 6% range, every rate drop makes homes even more affordable. Historically, markets this favorable for buyers don’t last long, so now’s the time to make your move!

Advice for Sellers: Focus on Making Your Home Shine

While rates dropped earlier, recent positive job reports caused a small spike in mortgage rates. However, experts expect rates to glide down again over the next year, giving sellers more time to plan. In the meantime, sellers should focus on making their homes stand out. With more listings available, serious buyers are looking for homes that are move-in ready, so simple upgrades like new carpet, a fresh coat of paint, or updated lighting can make a big difference.

Sellers in the $275K-$500K range should also consider offering incentives to buyers, such as help with closing costs, especially with longer marketing times during the holidays. If you’ve owned your home for a few years, you might have enough equity to offer these perks, which can be the key to attracting motivated buyers!

Overall, while the best time for sellers is typically in the first half of the year, getting ahead of the competition now could pay off big in the spring if rates continue to decline, as many predict. If you’re thinking about selling, now is the time to start preparing!

Last month 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. 

Día de los Muertos Festival - Mesa Arts Center is proud to celebrate the memories of departed loved ones with the 18th annual Día de los Muertos Festival on Saturday, Oct. 19, and Sunday, Oct. 20, from 10 a.m. to 5 p.m. The free festival offers nonstop live entertainment, hands-on artmaking activities, traditional face painting, a wide variety of food options and a vibrant mercado marketplace showcasing traditional and contemporary merchandise, jewelry and Mexican arts and crafts from local artisans and vendors. Learn more at mesaartscenter.com.

Out to Lunch Concert Series - Mesa Arts Center's free Out to Lunch Concert Series starts Thursday, Oct. 24 with Guitarras Latinas from 12:30 p.m. to 1:30 p.m. Every week is a different sound, a different style. Relax and enjoy captivating live music and the marvelous Arizona weather in a beautiful, shady outdoor setting. The full fall concert schedule is at mesaartscenter.com.

Trick or Treat Trail at Epicenter: Join East Valley Moms for FREE trick or treat trail through Epicenter to kickoff our fall play date series and take advantage of outdoor play season! Plus, there'll be treats for moms as well–chances to win from Epicenter retailers.

For a full list of Halloween and Fall Fun events (especially for those kiddos who still nap) check out the East Valley Mom's blog here.

😲 In Case You Missed It!