🌿🌴 INCREDIBLE LUXURY GARDEN 🌴🌿

🌿🌴 INCREDIBLE LUXURY GARDEN 🌴🌿

4 Bedrooms

4 Bathrooms

Guest House

Private Pool

Listing Courtesy of: Arizona Regional MLS / Russ Lyon Sotheby’s International Realty

 

 🔥 If this property excites you….

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

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


Posted on October 18, 2019 at 5:33 pm
Eric Karlene | Posted in Properties |

Supply is Down 73% in this Area and Price Range

New Listings Up 10% from July to August
Supply is Down 73% in this Area and Price Range

For Buyers:
A faint glimmer of good news for buyers, supply finally stopped declining and actually rose a tiny bit in the last week.  While active listings are still 16% lower than they were this time last year, they’re 1% higher than 4 weeks ago.  This rise can be attributed to a 10% increase in new listings from July to August, which is not uncommon as July is typically a low point in the year for new listings.  However this August was 3% below last August in comparison and the lowest August since 2016.  One price range that is still declining in supply is $200K-$250K, which has plummeted 51% since February.  The Southeast Valley on the Maricopa County side has seen the largest decline of 73% in this price range for single family homes.  Gilbert is especially low with only 5 listings in the entire city under $250K as of September 9th, all of them townhomes with an average size of 1,116 square feet.

For Sellers:
For some sellers the idea of listing their home is stressful, even if it’s in great condition. The pressure of keeping their home clean for showings and open houses, enduring negative feedback, and the unknowns of the inspection report can send homeowners right into the arms of flip investors who will happily buy their home “as is” with significant fees attached.  While there is nothing wrong with doing that (there is value in ease and certainty) sellers should understand that if their home lands within a frenzy price range for their area, where there are literally more homes under contract than there are for sale, they may be pleasantly surprised at how little they have to do to sell it on the MLS.  Negotiable listing costs, multiple contracts and buyers willing to buy “as is” make this the perfect market for sellers who know their home is not so perfect.  To find out if your property lands in a frenzy zone, contact your local Realtor.

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


Posted on October 3, 2019 at 5:08 pm
Eric Karlene | Posted in Market Updates - Cromford Reports |

My Plumber and Polybutylene Plumbing


Posted on September 26, 2019 at 9:31 pm
Eric Karlene | Posted in Contractor |

Mason – Does Hardscape, Walls, Concrete, and Pavers


Posted on September 13, 2019 at 4:59 pm
Eric Karlene | Posted in Contractor | Tagged , , ,

What does $100,000 buy in Phoenix?


Posted on September 6, 2019 at 4:08 pm
Eric Karlene | Posted in Info | Tagged , ,

What Does $26,000,000 Buy in Scottsdale, AZ?


Posted on August 30, 2019 at 6:25 pm
Eric Karlene | Posted in Properties |

Contracts up 19% in this Price Range!

Contracts up 19% in this Price Range!
Flip Sales Rebounding Strong after Weak First Quarter

For Buyers:
New listings activated in June were down 10.0% compared to last June and overall supply has dropped 9.5% in 4 weeks, putting it below last year’s count for the first time all year.  Buyers have gotten used to very little supply under $200K but now they’re feeling it hard between $200K-$250K, where new listings were down a whopping 15.1%.  Trying to fill the gap, brand new town home/condo sales have been strongest between $200K-$250K with a median size of 1,362sf.  The top two builders that have sold the highest number of condos in this price range this year are Lennar in Gilbert and DR Horton in Mesa.  Other competing developers building multi-family between $200K-$250K include Bela Flor in Mesa and Maracay in Goodyear.  In Mesa, new condos in this price range have been extremely competitive with resale with an average price per square foot of $155.70 versus $157.47 for resale.

For Sellers:
Listings in escrow are up 7.4% and have soared nearly 19% over last year between $250K and $600K.  Homeowners with property valued under $250K are inundated with offers from investors as flip sales* have rebounded strongly over the past few months.  Making up for lost time after being down 4.2% in the first quarter, successful flip sales have now outperformed 2018 by 4.8%. The median sale price for a flipped home in May was $245K, up 8.4%, and the average size sold was 1,710sf.  The median gross gain for a traditional flip investor was $53K between their acquisition and sale price.  iBuyer companies such as OpenDoor, OfferPad and Zillow showed a median gross gain of just $9,900, however that doesn’t account for significant service charges to the sellers during escrow.

*A flip sale is defined in this case as the sale of property within 6 months of acquiring it.

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


Posted on July 31, 2019 at 8:51 pm
Eric Karlene | Posted in Market Updates - Cromford Reports | Tagged , , , , ,

Re-sale prices are not predicted to come down this year.

For Buyers:

Re-sale prices are not predicted to come down this year.  Between August 2018 and January 2019 it looked like the market was going to balance out and cause prices to stabilize around the 2nd half of 2019.  However two things happened to change that prediction.  First, average 30-year mortgage rates dropped from a high of 4.94% in November 2018 to 3.82% as of June 2019.  That alone has saved buyers around $177/month on a median-priced $279,000 home with 4% down.  Second, private sector annual earnings in Greater Phoenix rose 1.8% in April after an 8-month period of stagnation.  In the last decade home prices have gone flat just twice, in 2011 and 2014.  Both times there was a corresponding decline in annual earnings. If annual earnings continue to grow and interest rates remain low, the Greater Phoenix seller market will continue to push home prices up this year.

For Sellers:

The May peak buyer season is over.  From this point through the end of the year it’s not uncommon to see contract activity gradually decline 30-40%.  The good news is that despite the predictable decline, listings under contract are coming in 3.7% higher than this time last year.  It’s not evenly distributed along all price points however.  Contracts on listings over $600K are up 3.4% while the $500K-$600K range is up an impressive 33.5%!! Contracts between $250K-$500K are up 16.1% and the low $200K’s are up 8.1%.  Lack of inventory under $200K means that contracts in this range are down 20.6%.  Expect your highest annual appreciation rates to be between 6-10% in the $150K-$225K range as this is where the majority of investor flip activity lies. $225K-$500K appreciation is between 3-5% and over $500K is between 1-3%.

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


Posted on June 8, 2019 at 8:52 pm
Eric Karlene | Posted in Market Updates - Cromford Reports | Tagged , , , , ,

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
COMPLETE REMODEL
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
Email: Eric@EricKarlene.com
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 |