Tiffany’s Testimonial

Posted on May 30, 2019 at 5:48 am
Eric Karlene | Posted in Testimonial |

Remodel at University & Extension – Coming Soon

‼️‼️ Coming Soon ‼️‼️
👉 University & Extension
🏆Johnson Addition🏆
1326 sqft
3 Bed 
2 Bath
New Kitchen
Diving Pool 🏊‍♀️
2 Car Garage
Irrigated Lot
To schedule a private showing or to view other properties throughout the entire valley PLEASE don’t hesitate to reach out!!!
Call/Text: 602-492-2897
DM me on Facebook
#3bed #JohnsonAddition #AZ #EricKarlene #AZHome #Firsttimehomebuyer#MesaTopRealtor #PhoenixTopRealtor #TopRealtor #pool #EricKarleneRealtor#ArizonaHouseForSale #FishingRealtor

Posted on May 23, 2019 at 8:20 pm
Eric Karlene | Posted in Uncategorized |

Median Sales Price up 5.9% to $270,000 in Greater Phoenix

For Buyers:
The median rent paid on single family rentals through the Arizona Regional MLS is currently $1,625 per month, which is comparable to what the mortgage payment would be on a median-priced $270,000 home with 4% down at today’s interest rate (including approximate taxes, homeowners insurance and mortgage insurance).  If a buyer were to purchase that home today, within 5 years they would have nearly $35,000 in equity just from making their mortgage payment, not including any appreciation in value.  If prices were to rise at a modest 2.1% per year (the average long term rate of inflation) within that same 5 years, then they would have an additional $43,000 in equity just from appreciation.  This scenario would result in $78,000 in total equity within 5 years and by year 3 they would be able to remove any mortgage insurance from their payment, which would save another $200 per month approximately.

For Sellers:
Low interest rates are continuing to fuel buyer demand and there are now 2.5% more listings under contract today than there were last year at this time and 3.7% more sales. All in all an impressive rebound as interest rates have remained below 4.2%, keeping affordability stable for the time being.  Increased demand in the 2nd quarter has resulted in strengthening the weakening seller market after a full 7 months of decline.  May is typically the highest month for listings under contract and buyer activity is expected to decline from here through December as it typically does every year.  Don’t think you’ve missed the boat if you need to list however.  On average since 2001, about 52% of all sales happen in the first half of the year and 48% in the second.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
©2019 Cromford Associates LLC and Tamboer Consulting LLC

Posted on May 21, 2019 at 8:44 pm
Eric Karlene | Posted in Uncategorized |

☀️☀️ Just Listed in Phoenix’s Country Place☀️☀️

Ready to Move In!

Amazing 3 bed, 2 bath, Den,1,704 Sq Ft! 🏠

19635 N 14TH Pl, Phoenix, AZ

🔥 Don’t wait too long!

📲 Call Eric 602-492-2897 for all the details!

👉 Eric Karlene, Realty ONE Group 602-492-2897

#newhome #justlisted #yourdreamhome #CountryPlace #erickarlene #erickarlenerealtor #topmesarealtor #mesa

Posted on May 13, 2019 at 5:16 pm
Eric Karlene | Posted in Uncategorized |

Two Months Left to Our Peak Selling Season

We have two months left to our peak selling season before activity begins
to noticeably slow. If you have been on the fence about selling, now is
the time. Remember, “pretty homes” sell faster and for more
money…have your home in tip-top shape to secure the best offer(s)
from potential buyers.

Interest rates have remained stable (low) over the past 30 days. As
expected, active inventory dropped slightly this month making it more
competitive for buyers. Remember, you will often get a good price or
good terms (concessions/contingencies), but rarely both. Be prepared to
write your offer accordingly.

Posted on May 6, 2019 at 3:43 pm
Eric Karlene | Posted in Uncategorized | Tagged , , , , , ,

🏠🏆🏆 SOLD in 6 Days & Multiple Offers!🏆🏆🏠

🏠🏆🏆 SOLD in 6 Days & Multiple Offers!🏆🏆🏠 I would love an opportunity to implement my Marketing Process on your property to get the same results for you! Contact me to see how!
Call/Text: 602-492-492-2897
DM on Facebook

Posted on May 2, 2019 at 5:11 pm
Eric Karlene | Posted in Uncategorized | Tagged , , , , , , , ,

2750 W Junquillo Cir Mesa AZ 85202 – Eric Karlene Real Estate

Posted on April 12, 2019 at 6:56 pm
Eric Karlene | Posted in Uncategorized |

Mortgage Payments Drop $50 per Month on a Median Priced Home

Mortgage Payments Drop $50 per Month on a Median Priced Home
Listings Under Contract Up 19% in 5 Weeks!

For Buyers:
Buyers got a break last month as 30-year mortgage rates dropped significantly from an average of 4.41% to 4.08%, which is the lowest they have been since January 2018.  On a $267,000 home (the median sales price in Greater Phoenix) the drop equated to nearly $50 per month in savings on principal and interest, which was enough to get many buyers off the couch and looking for homes.  This rate drop combined with an increased conventional loan limit up to $484K and a 32% increase in weekly seller price reductions meant that price ranges between $200K all the way up to $800K saw a combined 19% increase in contracts written over the last 5 weeks.  Contract activity is expected to increase at this time of year anyway due to seasonality, but last year over the same 5 weeks it only increased 8.6%.  For buyers who are still waiting for prices to begin declining, their wait just got longer.

For Sellers:
The drop in mortgage rates could not have come at a better time for sellers.  Up until 6 weeks ago the negotiating advantage sellers have been enjoying for years in Greater Phoenix had weakened to the point where the market was on track to enter balance within a matter of months and price appreciation would have begun to slow even more.  However by April 4th the average 30-year mortgage rate (as reported by Freddie Mac) had dropped to a 15-month low.  This spurred buyer activity and resulted in Listings Under Contract, which were 10.2% below 2018 last month, to sharply increase and surpass 2018’s April count by 0.8%.  Currently sales volume is down 9.6% from last April, however when these contracts close escrow over the next 4-6 weeks May and June should fare much better.  Don’t get too excited though, the seller market is still much weaker than last year.  Affordability and demand were helped by this interest rate drop but could quickly be negated as prices continue to rise.  Sellers still need to be mindful of their asking price to get under contract before buyer activity seasonally begins to decline between May and the end of the year.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
©2019 Cromford Associates LLC and Tamboer Consulting LLC

Posted on April 12, 2019 at 5:06 pm
Eric Karlene | Posted in Info, Market Updates - Cromford Reports | Tagged , , , ,

March 2019 – Sellers: Get Competitive, It’s “Buyer Season”

Price Reductions up 71% on Listings $200K-$250K
Sellers: Get Competitive, It’s “Buyer Season”

For Buyers:
Good news for buyers over the past few weeks, interest rates came down a few notches.  That combined with the increased loan limit for conventional financing gave buyers a little boost.  The new loan limit for conventional financing in Maricopa County is $484,350 as of a few months ago and the new limit for FHA financing is $314,827.  Just 3 years ago, the limits were $417,000 and $271,050 respectively.  The FHA limit increase hasn’t had as much impact on buyer demand as the conventional increase thus far.  While the overall market is down 8.7% in sales this month, the biggest winner has been the $500K-$600K price range which is up 15%.

For Sellers:
“Buyer Season” in Greater Phoenix typically lasts from February to May with a peak in April.  Sellers who decide to list their home in March should be aware that they have just 8-10 more weeks of peak buyer activity before the summer slowdown.  This is a very competitive time for sellers. Price reductions are at their seasonal peak in the luxury price ranges, however it’s most noticeable in the battleground price range of $200K-$400K.  The number of weekly price reductions on listings between $200K-$250K are up a whopping 71% where competing supply is 32% higher than last year and price reductions are up 42% between $250K-$400K where supply is 26% higher.  It’s a good idea to be competitive in both price and condition right out of the gate as buyer demand remains below normal overall in Greater Phoenix.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
©2019 Cromford Associates LLC and Tamboer Consulting LLC

Posted on March 10, 2019 at 10:22 pm
Eric Karlene | Posted in Market Updates - Cromford Reports |

Sellers: Stop Trying to Time the Market

List Price Reductions up 24% in Greater Phoenix, Up 42% in Some Areas
Sellers: Stop Trying to Time the Market

For Buyers:
A weak 4th quarter for sales in 2018 has resulted in 11,874 price reductions in the first 5 weeks of 2019.  That’s 24% higher than this same time last year.  Price reductions on listings between $200K-$500K specifically are up 40%.  The most notable price range with a 42% increase is $200K-$250K. This may come as a surprise to some because this price range is below the median sales price of $263K.  However this area is currently a battleground of competition between traditional sellers, flip investors and new construction as inventory is up 26% and contracts are down 10%.  Flip investors acquire and sell over 50% of their inventory in this price range.  New home builders increased their sales by 22% in this range last year. Traditional sellers are now under more pressure to improve the condition of their home and provide incentives for buyers in order to compete.

For Sellers:
This is not a good time for sellers to get caught up in timing the market so as to sell their home at the ideal “peak of price”.  While it’s understandable for sellers not to want to leave any money on the table, the reality is that price peaks don’t happen in seller markets.  They occur in balanced markets.  Balanced markets are fine to sell in, but they’re not as fun or profitable for sellers as they expect; especially if their property is hard to sell due to condition or location.  As the seller market continues to weaken, it’s more important than ever for sellers to list their property while they still have the advantage of low competition, price it competitively and don’t spit on the first contract.  Buyer activity, while lower, will continue to accelerate through May.  This is go time.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
©2019 Cromford Associates LLC and Tamboer Consulting LLC

Posted on February 13, 2019 at 7:26 pm
Eric Karlene | Posted in Uncategorized | Tagged