Are Rent Prices Are on The Rise?

Are you renting and wondering if you can buy? Its amazing how many people don't think they can buy because of credit, bankruptcies, or short sales but actually can. 

Tired of paying someone else mortgage and want to start building some net worth? 

Give me a call and I would be happy to give you some names and numbers of some great lenders that proven themselves reliable and recommendable. www.AudreyTolley.com 

http://www.audreytolley.com/buying-real-estate.html

The article, Metro Phoenix rents are rising in lots of strange places, from www.azcentral.com, reports that Almost half of Valley renters saw their monthly payments jump by more than 9 percent in 2015. That’s from a newRentcafe.com survey that breaks rents down by ZIP Code in the region. The new data definitely shows some surprises about where Valley rents are climbing the fastest, For example:

• The median rent in ZIP code 85034, the neighborhood surrounding Phoenix’s Sky Harbor International Airport, shot up 21 percent last year. That’s the biggest increase in metro Phoenix. Light rail runs through the central area between Downtown Phoenix and Tempe.
• South Scottsdale or the popular SoSco area in ZIP 85251 saw the second biggest jump in rents, about 20 percent. Not surprising because this area is very popular with students and Millennials.
• Apartment rents climbed 20 percent in the posh enclave Paradise Valley, ZIP 85253. What’s interesting or even shocking here is the average rent in Paradise Valley is $1,300, lower than Downtown Phoenix’s  $1,399.
• The South Phoenix neighborhood at the base of South Mountain, ZIP 85041, ranked No. 4 for the biggest rent increase – 17 percent. The area, with great views and a central locale, is drawing more new homebuyers and renters and firmly shaking off its blight of the 1980s.
• Rounding out the top five metro Phoenix neighborhoods with the biggest rent increases is ZIP 85208 in Mesa. Known to some as the Skyline neighborhood, this affordable area draws retirees and families. 

Here is the link to the entire article: http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/02/12/metro-phoenix-rents-rising-lots-strange-places/80237872/#

Phoenix Metro Residential Real Estate - February 2016

Active Listings down -7.5%

Listings Under contract +8.6%

Monthly Median Sales Price Up +8.8%

Average Days on Market is 80 DOM

Distressed Foreclosures and Short Sales are Down -3.7%

93% of Sales were Normal Traditional Sales

Total Monthly Sales are Up 5.6%

February 2016 Cromford Associates LLC

Open House this weekend 5bd/2bath ½ acre lot with heated pool and Jacuzzi

Check out our Facebook page for event details:
https://www.facebook.com/events/1036803653029985/

Stunning Remodeled home with huge back yard. Single level, single family estate conveniently located near Shea Blvd and Hwy 51

Great location near Paradise Valley, Scottsdale, and Desert Ridge Shopping. Numerous Golf courses, and lots of great hiking and biking trails near by (just down 40th street dead ends to the mountains preserve hiking trail. The back side of Dreamy Draw)

What return on upgrades sellers ....

What upgrades give you the most return.

http://realtormag.realtor.org/daily-news/2015/12/09/new-roof-greatest-remodeling-value#.VmjyqvSb2eg.mailto

Why Forbes projects Arizona to lead U.S. in job growth

Why Forbes projects Arizona to lead U.S. in job growth



The article, Brisk job growth drops Arizona unemployment rate, from www.azcentral.com, reports that Arizona gained a net 33,800 jobs last month, well ahead of the nearly 24,000 it has averaged in October since the Great Recession ended in 2009. The hiring boost dropped Arizona's unemployment rate to 6.1 percent from 6.3 percent . Over the past year, Arizona has added 60,300 jobs, a 2.3 percent growth rate. If the state can maintain that pace in the final months of 2015, it could snap a string of relatively sleepy 2 percent growth in recent years. Both numbers are better than the 1.9 percent national job-growth figure but rank far below Arizona's historic growth rate. "There are no surprises in this report. Long ago most people who track the economy gave up the idea that some big boom was on the way," said Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business at Arizona State University. McPheters said ASU's forecast called for 2.4 percent job growth this year and the state remains on track for its best year since the recession. While McPheters sees more steady improvement, Forbes magazine recently suggested Arizona would lead the nation in job growth through 2019, calling the state one of the “brighter spots in a slumbering U.S. economy." Construction, once a pillar of the state's economy, has gained 4,700 jobs over the past 12 months, which ranks seventh among the 11 major industrial sectors.

Here is the link to the entire article: http://www.azcentral.com/story/money/business/economy/2015/11/19/arizona-unemployment-rate-october-2015/76054010/

The article, Why Forbes projects Arizona to lead U.S. in job growth, from www.azcentral.com, reports that Forbes Magazine has named Arizona the best state for future job growth. The magazine in October used forecasts from Moody’s Analytics to call Arizona one of the “brighter spots in a slumbering U.S. economy thanks in part to renewed migration.” The Moody’s report projected a job growth rate of 3.1 percent through 2019. As the U.S. economy slowly recovers from the Great Recession, experts said Arizona has become a landing spot for expanding businesses because of its skilled workforce, available real estate and diversified economy. Large companies headquartered in the Midwest and Southeast are expanding in the Valley and bringing plenty of jobs with them. Chicago-based Northern Trust Bank expects to add 1,000 jobs at its new Tempe operating center by 2018. Home Depot Inc., headquartered in Atlanta, will add about 800 jobs to its Tempe call center in an existing warehouse in 2016. Dallas-based Santander Consumer USA Holdings Inc., a consumer finance firm, plans to hire up to 970 employees at a new facility in Mesa, according to the Greater Phoenix Economic Council. Arizona’s job outlook has been in large part shaped by a steady influx of baby boomers retiring to the desert, said Lee McPheters, a professor of economics at Arizona State University’s W.P. Carey School of Business. “There’s a path toward economic recovery (in Arizona),” McPheters said. “We’re a lower cost state than our neighbors, one that continues to attract retirees, which creates jobs in food service and health care.” McPheters said the Valley’s combination of available infrastructure and a talent pool of young college graduates also work in the state’s favor when companies look to leave an economic footprint in Arizona. “There aren’t a whole lot of obstacles in Arizona,” McPheters said. “The opportunities outweigh the obstacles significantly.”

Here is the link to the entire article: http://www.azcentral.com/story/money/business/jobs/2015/11/18/arizona-projected-lead-country-job-growth-forbes/75996164/

August 10, 2015 Market Update Phoenix, AZ 85028

Median list price $376k 

List Price has had no change / flattened out

Currently 92 homes Active and available

16 homes went under contract in the last 7 days

Average days on Market (DOM) 89

If you are looking to buy a home, sell a home, or know someone that is feel free to visit www.audreytolley.com/85028 

To find out what your home or a home you are looking at might be worth in today's current market.

2015 football Schedule for Arizona

Last year we welcomed the Super Bowl here in Arizona.

Here is our local football teams 2015 football schedule.