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2020 Market Review & 2021 Forecast

2020 Phoenix Real Estate Market Review & 2021 Forecast

On to another year that will see a change for the better in regards to COVID19!  With herd immunity and vaccinations rolling out,  there is reason for optimism. How did the Phoenix real estate market fare in 2020?  And what can we expect for 2021 with all coronavirus efforts? Let’s do a review of the Phoenix real estate market for 2020.  I’ve prepared a video that reviews 2020 and also points out some fundamental metrics such as negative equity and mortgage delinquencies that have been brought on by COVID19.  Continue reading to learn more.

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Buyer Closing Costs Explained

Understanding Buyer Closing Costs

One of the least understood costs that a buyer will encounter when purchasing a house are buyer closing costs.  In part, this is because buyer closing costs come from different sources. There are lender fees, prorations for taxes and home owner’s insurance as well as funding the escrow account, title and escrow charges, title insurance, and HOA fees such as transfer and capital improvement fees. To understand the details, continue reading.

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Adult Community Waterfront Homes in Phoenix

 

55+ Waterfront CommunityRelaxing 55+ Active Adult Waterfront Communities

If you’re looking for a waterfront retirement home in the Phoenix area but also want to enjoy the amenities of an active adult community, keep on reading.  Active adult waterfront homes are found in Mesa, Sun Lakes, Goodyear, Peoria, Sun City and the city of Maricopa. Specifically, they are Leisure World, Sun Lakes, Canta Mia, Ventana Lakes, View Point and Dawn Lake in Sun City and Province.  Find out if any of these adult retirement communities allow boating.

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Valley wide biking and walking paths and trails

Recreational Paths And Trails Along The SRP Canals

If you’ve ever looked for a safe and leisurely place to go for a walk or ride a bike without the risk of competing  on busy streets with cars and trucks, consider the recreational paths and trails along the SRP canals. Throughout the valley Salt River Project (SRP) manages 131 miles canals that provide over 1 million acre feet of water annually to the Phoenix metro area.

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Spring Mountain Ski Ranch -Water ski community

Spring  Mountain  Ski  Ranch  in  the  west  valley

Hidden in the west valley are two water ski communities; Spring Mountain Ski Ranch and  Lakeside Ski Village.  Spring Mountain Ski Ranch was established in 2005 with initial sales of the one acre lots between $250K – $385K.   After surviving the real estate down turn along with  recent improvements, SMSR  is a water ski community that has become a community that is attracting a lot of attention.

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Lakewood Waterfront Community in Ahwatukee

Lakewood waterfront CommunityLakewood: Ahwatukee Foothills Lakefront Community

Adjacent to the Ahwatukee foothills you’ll find the city of Phoenix’s largest residential lake that features over 170 waterfront properties. These lakefront lots that welcome boaters are situated on 38 acres of water on two residential lakes.  With the recent extension of the loop 202 South Mountain freeway, access to the east valley, Sky Harbor airport and central Phoenix is that much easier.

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2020 Real Estate Market Update Phoenix

Phoenix  Real  Estate  Market  Update  – First  Half  2020

Who could have predicted such a crazy six months as we’ve seen in the first half of 2020.  COVID-19 has made everyone sit back and wonder if there is any normalcy left in the world.  The pandemic and the associated events have left many wondering how the real estate market has fared.  That’s what we’re going to look at in this Phoenix real estate market update for the 1st half of the year.  If you are curious, click to  find out.

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5 Must Review Sections of CC&R’s

What are CC&R’s for a home owner’s associationArizona Revised Statutes for HOIAs

Chances are if you are a homeowner in the Phoenix area, you’ll become familiar with HOA’s because the majority of homes are part of a HOA.  The rules that home owners agree to abide by are called Covenants, Conditions and Restrictions (CC&R’s).  These restrictions regulate various aspects of home ownership, such as leasing or renting, vehicle parking, architectural guidelines, animal and pets, and so on.  Becoming familiar with the CC&R’s before you purchase a homes is a wise decision. Also find out if the HOA is attempting to exercise more control than it should.

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Coronavirus and Phoenix Real Estate

Has the coronavirus or COVID-19 put the real estate market in the ICU?

The coronavirus or COVID-19 has taken everyone by surprise and the effects of this pandemic will not be totally understood for months or years to come. However, we can see the effects of this virus on Phoenix real estate in the past month, and where things will go in the next 30 – 45 days.  To understand the cumulative effects and future path, keep reading.

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6 Home Buying Mistakes to Avoid

Most Common Mistakes Buyers Make

In order to make your home buying experience as successful as possible it is critical to avoid costly home buying mistakes. This is especially true since buying  a home will be the most expensive purchase a buyer will make in their lifetime.  Keeping these potential mistakes in mind will benefit a buyer as they navigate the home buying process. To learn more about the most common buying mistakes, read on…

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