Scottsdale, AZ Real Estate News

By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
- December 2022 Scottsdale Homes for Sale and Home Sales - Welcome to the final month of Scottsdale home sales for 2022! December tends to be a quieter month as many people move into holiday mode. And, this December was no different. SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2022 Every month, we look at the four sales metrics below to get a sense of how the market is performing. - Single-family homes for sale - Orange Line - The number of homes on the market at the end of the month. - Under contract, but accepting backup offers (UCB) - Gray Line - The number of UCB contracts at the end of the month.*- Pending home sales - Yellow Line -The number of pending sales at the end of the month.*- Home Sales - Blue Line - The number of homes that sold over the course of the month. NOVEMBER 2022 ...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Why You Shouldn’t Fear Today’s Foreclosure Headlines If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission-critical if you want to know the truth about what’s happening today. Here’s a deeper look. According to the Year-End 2022 U.S. Foreclosure Market Report from ATTOM, foreclosure filings are up 115% from 2021, but down 34% from 2019. As media headlines grab onto this 115% increase, it’s more important than ever to put that perce...
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By Chris Dunham, The Real Estate Guy™
(NexGen Brokered by eXp Realty)
Sellers disclosure statement in AZ - Why is it called the "SPDS"The "Sellers Property Disclosure Statement" ie, the SPDS as most Realtors refer to it, is a 7 page document filled out by the seller, sharing intimate details about the property they are selling since they have lived there. IE, if Joe is selling his house, which he has lived in since 2010, this Property disclosure gives him the opportunity to disclose anything he knows about the house since taking ownership. The questions on the "SPDS" range from when did the current owner but it, is it occupied, vacant or was it used at any time as a rental. Has it ever had a fire, flood or water damage. Has it ever had issues with weather (hail damage, winds etc).What types of animals lived there and how many. Does it now, or has it ever ...
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By Troy Erickson AZ Realtor (602) 295-6807, Your Chandler, Ahwatukee, and East Valley Realtor
(HomeSmart)
Here is the most recent Scottsdale AZ Real Estate Housing Market Report for December 2022:  After Scottsdale's average sales price reached a new all-time high of $1,499,763 in June, the average sales price has declined overall, and decreased in December to end 2022 at $1,350,065.After remaining at $440/sf the last two months, the average price of Scottsdale homes per square foot decreased to $427/sf for this month. The average sold price per square foot in Scottsdale has now decreased in 5 out of the last 7 months. Scottsdale days on market has increased for the third straight month, going from 51 DOM in September up to 75 DOM for December. This is the highest DOM for Scottsdale since January of 2021 when it was at 76 DOM. Scottsdale sales prices have been decreasing over the last 6 mon...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
Homes in Scottsdale, specifically the zip code 85258,  are in a sought-after area.  This zip code is beautiful with  scenic landscapes, mountain views,  and a series of man-made "lakes" that add to the beauty of the area.   You'll also find free access, a lot of retail, a hospital and GREAT schools!   The Cromford Reports are provided here via subscription.  Please do not copy the charts.   This chart reflects  the Active Listings in all of 85258, that are priced between $1,5 and $3 million.  Notice that 2023 is starting out with 26 listings, While that inventory is higher than normal, it's MUCH LOWER than in the past housing markets.   During the frenzy, 2020 - May, 2022, these homes sold very quickly.  The time it takes to sell a home in 85258 that is over $1.5 million and less than $...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
As with any aspect of vision, there are several perspectives.  Whether you're looking ahead or behind, peripheral vision plays a roll.  To get the whole picture, every view is examined when focusing on an object, plan within your field of vision.  The definition of Peripheral according to Meriam Webster's Dictionary:  "of, relating to, involving, or forming a periphery or surface part" But for this purpose, let's refer to peripheral marketing efforts as a vision of sorts.  Peripheral marketing speaks for itself.  A reader understands  the scope of a person, project, or real estate company by what's shared and not with direct contact.  When your website includes testimonials, educational information, vendor services and a blog discussing aspects of your business, this is part of your per...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
I can see clearly now as the rain is gone. This end to end rainbow photo was taken on New Years Day, January 1, 2023 in Scottsdale Arizona after a rain passed through the area. (Photo: Stacey Smith). Are you tired of rain and artic snow and cold where you live? It is time to move to Sunny Scottsdale Arizona one of best places to live in the US. Jimmy Cliff singing "I CAN SEE CLEARLY NOW, THE RAIN IS GONE"Here are ALL Scottsdale Single Family Homes For Sale on the Arizona MLS UPDATED DAILY. As your Buyer's Realtor I can show you any of the these homes listed on the MLS listed by all brokers. I will also look out for YOUR best interests at no cost to you. Call or Text me at 480-242-6500 or at http://ArizonaHomesLand.com with your questions.  Scottsdale Arizona Homes For Sale on MLS and AL...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
How to Price Real EstateKnowing and understanding how to price real estate is one tactic that could help you get your home sold for more. Working with an experienced realtor that knows the local market inside-out can help you sell your house faster, and often, for more money. Experienced REALTORS   Experienced REALTORS® know your local market, and their knowledge can help you sell your home more quickly, and for more money. This is just one of many ways that your realtor can help you sell your home fast for more money. Set a better price, and you will be better placed to sell your home fast, and for more money.   The more people who are willing to put out buying offers on your home, the higher your sale price will go. The point of price-to-sell is just that...it is choosing the listing ...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
Effective January 8, 2023, short term rentals in Scottsdale now require a privilege tax number and a license.  Every rental home is required to be registered as a rental in Maricopa County, but each city sets their own regulations regarding short term rental homes.   Short term rentals in the Phoenix Metro have received more press lately as some of these are located within Homeowner Association neighborhoods. HOA's have their own sets of regulations.  Several HOA's have attempted to block short term rentals for a variety of reasons.  Mostly nuisance, parking, and extended parties in short term rentals.   Therefore, if you own a home in any city, not just Scottsdale, and it is being used as as short term rental home, you'll first have to register it with Maricopa County.  Check with the ...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
The year Phoenix 2022  housing market was one of the most interesting, after experiencing two years of a frenzied housing market.  Inventory levels increased.  Interest rates doubled, and the number of sales declined.  A lot of worry has surfaced over these changes.    A few phrases have surfaced, of which "fear porn" is one amongst financial analysts.   Fear of another repeat of the housing crash has been echoed by some, however, none of the same reasons for the housing recession exist in the housing market today.   To review why the housing recession occurred, let's consider which aspects existed in 2008 that do not exist today:  Fog a mirror, get a loan.  Stated income loans without any documentation caused many loans to fail. Predatory lending practices.  Now that the mortgage indus...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Avoid the Rental Trap in 2023 If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward. In the past year, both current renters and new renters have seen their rent go up based on information from realtor.com: “Three out of four renters (74.2%) who have moved in the past 12 months reported seeing their rent increase. The strain from recent rent hikes isn’t exclusive to renters who have recently moved. Nearly two-thirds of renters (63.2%) who have lived in their current rental between 12 and 24 months, and likely renewed their lease, have also reported increases in their rent.” An...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Wondering How Much You Need To Save for a Down Payment? If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. This means you could be closer to your homebuying dream than you realize. According to the ...
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By Julie Pelle, Luxury Homes & Properties
(Launch Real Estate)
Real Estate Market Update for the Troon luxury home community in North Scottsdale, Arizona 85255 and 85262 Subscribe to our Weekly Market Update to receivenon-published featured community updates.     Troon in North Scottsdale, ArizonaJanuary 2, 2023 Weekly Update Active listings decreased to 65 homes. Average sale price per square foot decreased to $458.13/SqFt. Average sale price as % of list price decreased to 95.47%. Average sale price increased to $1,742,948. Highest priced home sold in past 6 months was for $5,385,000. Number of homes sold in past 6 months decreased to 79. Average Sales PriceMay 2013 - Present by Week Average Sales Price/SqFtMay 2013 - Present by Week 85255 & 85262 November 2022 vs November 2021 Monthly Update Active listings increased 52.02%. Months supply incre...
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By Julie Pelle, Luxury Homes & Properties
(Launch Real Estate)
North Scottsdale Real Estate Market Update for all listed homes in zip codes 85254, 85255, 85258, 85259, 85260, 85262 and 85266. Subscribe to my Weekly Market Update to receivenon-published featured community updates.     North Scottsdale, ArizonaJanuary 2, 2023 Weekly Update Active listings decreased to 907 homes. Average sale price per square foot decreased to $441.36/SqFt. Average sale price as % of list price decreased to 95.83%. Average sale price increased to $1,414,467. Highest priced home sold in past 6 months was for $11,200,000. Number of homes sold in past 6 months decreased to 1,356. Average Sales PriceMay 2013 - Present by Week Average Sales Price/SqFtMay 2013 - Present by Week November 2022 vs November 2021 Monthly Update Active listings increased 73.09%. Months supply in...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
What Are Your Goals in the Housing Market This Year? If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, explains: “The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so that you can stay in your home long enough tha...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Here’s to a Wonderful 2023!
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
If you're considering updating your home, maybe your kitchen,  and making changes to the interior finishes, what do you do with the existing finishes?  Chances are your existing, old fixtures will end up in the landfill if you don't resell them.  But how do you go about selling your old household features and fixtures? In the present day, it's not as simple as telling your neighbors you want to swap out a kitchen.  But that's exactly what a Paradise Valley couple did back in 1997.  The result?  The creation of a nonprofit for this exact purpose.   Donate instead of sending these interior finishes to the landfill.  A couple in Paradise Valley had told their neighbors to take whatever they wanted from their home since they were going to remodel after they returned from a vacation.  When t...
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
- November 2022 Scottsdale Homes for Sale and Home Sales - November was another slow sales month for the Scottsdale housing market. Historically, November tends to be a slower month. SCOTTSDALE HOME SALES ACTIVITY – NOVEMBER 2022 - Single-family homes for sale - Orange Line - How many homes were for sale at the end of the month. - Under contract, but accepting backup offers (UCB) - Gray Line - How many homes had UCB contracts on them at the end of the month.*- Pending home sales - Yellow Line -How many pending sales were in the pipeline at the end of the month.*- Home Sales - Blue Line - How many homes sold that month. Each month, we track and examine the following four items: NOVEMBER 2022 RESULTS Scottsdale Homes for Sale: Inventory has pretty much been on an upward trajectory since t...
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By Joyce Tawes, ABR, CRS, CLHMS, CNE
(Live Better in Scottsdale)
- November 2022 Scottsdale Housing Market Video - Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of November. November 2022 - Video Scottsdale Active Listings While a 109% increase in the number of listings between November 2021 and November 2022 seems like a lot, Scottsdale was actually experiencing incredibly low levels of homes for sale a year ago. So, while we are up, we are closer to a more 'normal' listing market. And, the number of homes for sale actually fell by 10% in November compared with where they were at the end of October. Median List Price for Scottsdale Homes The median listing price is the midpoint price of all of the homes on the market where half have higher price and half have lower prices. In November, Scotts...
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By Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell
(HomeSmart Real Estate)
With views of Camelback Mountain, here are ALWAYS UP TO DATE  Active, Pending and Recently Sold Homes on McCormick Ranch Scottsdale on the day you are reading this and written this day in December 2022. As your Buyer's Realtor in McCormick Ranch I can show you all homes listed by All Brokers and look out for YOUR best interests. Give give me a call/text at 480-242-6500 for more information.  Updated Daily on the MLS! McCormick Ranch in Scottsdale Arizona Detached Homes (Active, Sold, Pending) For my Buyer Clients, I provide all Active, Pending and Recently Sold Homes on McCormick Ranch Scottsdale on MLS updated daily for FULL PAGE view. Also, create your own FREE MLS SEARCH Portal in Arizona, my courtesy to you and call me if you wish to see some of the homes. For more information abou...
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