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Phoenix Metro Real Estate Blog

Tuesday, August 18, 2020   /   by Kevin Kauffman

Q: How Can We Help You Navigate This Crazy Market?

Our market is crazy at the moment, but don’t worry—we’ll help you find success.

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Today we’ll share some of the strategies we’ve employed to help our clients get into homes in this crazy market.


First, remember that not all agents are the same. A while back, we received 11 offers on a home we were selling—some of them didn’t even have proof of financing, meaning that they were incomplete offers. Only one agent actually called me to find out what was important to the seller. One aspect of writing a good offer is having an experienced, competent agent who can write a complete offer. 


You can also strive to build a rapport with the seller and their agent before writing an offer. Our team writes ‘love letters’ to the sellers of homes our clients are interested in (more recently, we’ve been making ‘love ...

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Monday, July 20, 2020   /   by Kevin Kauffman

Q: Our Phoenix Market Is Red-Hot, But For Whom?

As we move from July to August, it’s a seller’s paradise in our market.

Looking to buy a home? Search all homes hereLooking to sell your home? Get a free home value report


What happened this past July in our Phoenix real estate market?


It was an absolutely crazy month. Homes sold for above asking price, and contracts were getting accepted in eight days or less under the $400,000 price point. These are prime indicators of an extremely hot and competitive market. 



The greater Phoenix area has a population of about 4.8 million, and there are approximately 1.4 million single-family homes, condos, and townhomes. We’ve been operating with only about 8,000 or 9,000 of those homes available for sale. At one point last month, there were only 1,023 available listings under $300,000. Simply put, inventory is extremely low. 


Homes are selling fast, and it’s a struggle for buyers out there because it seems like every one of them is gett ...

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Tuesday, July 14, 2020   /   by Kevin Kauffman

Q: What’s Going on in the Phoenix Real Estate Market?

These are the key stats to know heading into the second half of 2020.

Looking to buy a home? Search all homes hereLooking to sell your home? Get a free home value report


We’ve had so much news from our real estate market lately; today we’re going to take a look at all the numbers from June and compare them to what we saw a year ago. 


The first thing you need to know is that there were more properties under contract in June 2020 than were properties available to purchase. There were 13,321 homes under contract and just 11,232 homes for sale. We have a lot less inventory compared to last year, 36.6% lower actually. 


Given these numbers and what’s happening, what does it mean for homebuyers and sellers? For sellers, homes are selling over asking price and many are selling with multiple offers. If your home is priced between $150,00 and $250,000, you have a 38% chance of selling over listing price, which is incredible.


Well, this means ...

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Monday, June 29, 2020   /   by Kevin Kauffman

Q: Is Now a Good Time to Sell in the Phoenix Market?

If you’re thinking of listing your home, now’s a great time to do it.

Looking to buy a home? Search all homes hereLooking to sell your home? Get a free home value report


With all of the conflicting information in the news right now surrounding our Phoenix real estate market, what do home sellers really need to know?


As we mentioned in a previous video, contract activity dropped almost 49% during a six-week period between March and April. During this slowdown, many people took their homes off of the market. They weren’t sure they even wanted others to look at their homes given the COVID-19 situation. There was a slowdown in buyers entering the market as well. 



That slowdown, however, has passed. Contract activity has increased lately, and this is great news for sellers. Due to this new influx of buyers, you have a great opportunity to get top dollar for your home. Keep in mind that there are fewer cash buyers out there, which means fewer i ...

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Friday, June 12, 2020   /   by Kevin Kauffman

Q: How Is Our Phoenix Market Doing?

Here are the latest real estate facts you need to know.

Looking to buy a home? Search all homes hereLooking to sell your home? Get a free home value report


What is our market doing in June 2020? Though we’re definitely still dealing with COVID-19 here in Arizona, things are starting to open up a bit. 
 
There was a 39% drop in activity over the course of roughly six weeks (March through mid-April), and only now that we’re another six weeks beyond that, the effects of that sudden decline are really starting to show up in the data. There’s been a 31% decrease in sales, but this is hardly surprising; it’s hard to sell homes if no homes exist on the market to be sold. 

 
However, what is truly surprising—and what’s not being reported widely yet—is that we’ve had a 40% increase in accepted contracts in just the past four weeks. We find it important to share this fresh stat because those who are in the mark ...

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