We’re now entering a new decade and putting behind us another year. Every year there are predictions about what is happening in the Phoenix real estate market. Continuing price increases, inventory trends, cash investors displacing first time home buyers, foreclosures creeping up again. These are just some of the topics that everyone with an interest in understanding Phoenix real estate trends would like to know about. If you fall into this camp, keep reading.
If you’re looking for a community where over 70% of the homes are waterfront, Arrowhead Lakes in Glendale is a perfect match. It is also located close to the 101 freeway, offering good access to the west valley and Phoenix. A quick drive through the neighborhood will show just how many residents enjoy boating on this 130 acre man made residential lake.
An important element of a real estate purchase is the due diligence during the inspection regarding the property. You’ve seen the professional pictures on line and visited the meticulously maintained house with the scent of freshly baked cookies. What’s not to love Now it’s time to really find out what’s really happening. The due diligence during the inspection period is a critical time to evaluate the property and surrounding area of most likely the largest purchase you’ll ever make.
The 272 acre regional park in south Gilbert opened it’s doors to the intial 30 acre phase on Sept. 21, 2019. The completion of Gilbert’s regional park that will include a water park with a sand beach, surf lagoon, and swimming areas is slated for 2021.
As a waterfront buyer develops their list of criteria and questions, one question seldom makes it on the list, What is the source of the water for this lake community? It would not matter if all man made residential lake communities had the same source or type of water, but they don’t. There are 3 sources of water from which the Phoenix area lake communities receive their water. If this is of interest to you, keep on reading and watch the video.
Why is a Cash Offer Better?
Have you heard the investors give you their pitch that they’ll give you an “all cash offer”? And then you wait for the other shoe to drop and find out how much below market value the “all cash offer” will be. What is it about a cash offer that merits a discount and elevated status? When I’ve asked both buyers and sellers they say , “well it’s cash and they can close fast”. However, you may have a serious buyer with a competitive offer that wants to stand out from the crowd. So it is important to understand the contractual benefits of a cash purchase. To find out, watch the video below:
A/C Refrigerant Transition is Continuing
Air conditioning systems are continuing to transition to more environmentally friendly refrigerants, phasing out R-22 commonly known as Freon. Since January 1, 2010 any newly installed A/C systems had to use refrigerants such as R-410A, likely known by the brand name, Puron. Another benchmark change is coming up in the near future. To learn more, continue reading and watch the video to understand it’s impact.
Sun City Waterfront at Dawn Lake
Sun City offers a retirement community that surrounds a 37 acre boat friendly lake known as Dawn Lake with 2 miles of shoreline. These waterfront properties are comprised of single family and gemini or twin homes.
Real Estate Market Update for First Half of 2019
If you are wondering how things in the real estate market have started in 2019, I’d like to share some information with you. Are short sales and bank owned properties coming back? How often do sellers contribute toward buyer closing costs? And what has been happening to residential rental lease rates?
Check out the video below to have these and other questions answered.
Was there something that I missed or didn’t get answered? Please let me know and it may be the subject of my next video,.
What does the close of escrow mean?
A term that is mentioned over 35 times in the AAR Purchase Contract is the phrase close of escrow. Many buyers from the east coast mistakenly believe that when they sign the final documents at the title/escrow company, the transaction has closed. Not so in Arizona. Continue reading to find out all the activities surrounding the close of escrow.