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.

Real Estate Forecast - sunny and clear sky

The article, NAR Economic and Forecast Update (July 1, 2015), from www.realtor.org, reports on NAR and their chief economist Lawerence Yun’s take on the economy and housing market at the mid-year point. Here are some of the highlights:

• Buyers are coming back in force.  One factor for the recent surge could have been due to the rising mortgage rates.  As nearly always happens, the initial phase of rising rates nudges people to make decision now rather than wait later when the rates could be higher still.
  • The first-time buyers are scooping up properties with 32 percent of all buyers being as such compared to only 27 percent one year ago.  A lower fee on FHA mortgages is helping.
  • Investors are slowly stepping out.  The high home prices are making the rate of return numbers less attractive.
• Builders will construct more homes.  By 1.1 million in 2015 and 1.4 million in 2016.  New home sales will follow this trend.  This rising trend will steadily relieve housing shortage.
• Housing affordability is falling.  Home prices rising too fast are one reason.  The other reason is due to rising mortgage rates.  Cash-buys have been coming down so rates will count for more in the future.
• The Federal Reserve will be raising short-term rates soon.  September is a maybe, but it’s more likely to be in October.  The Fed will also signal the continual raising of rates over the next two years.  This sentiment has already pushed up mortgage rates.  They are bound to rise further, particularly if inflation surprises on the upside.
• Mortgage rates at 4.3% to 4.5% by the year end and easily surpassing 5% by the year end of 2016.
• The rising mortgage rates initially rush buyers to decide but a sustained rise will choke off as to who can qualify for a mortgage.  Fortunately, there are few compensating factors to rising rates. 
  • Credit scores are not properly aligned with expected default rate.  New scoring methodology is being tested and will be implemented.  In short, credit scores will get boosted for many individuals after the new change.
  • FHA mortgage premium has come down a notch thereby saving money for consumers.  By the end of the year, FHA program will show healthier finances.  That means, there could be additional reduction to premiums in 2016.  Not certain, but plausible.
  • Fannie and Freddie are owned by the taxpayers.  And they are raking-in huge profits as mortgages have not been defaulting over the past several years.  The very high profit is partly reflecting too-tight credit with no risk taking.  There is a possibility to back a greater number of lower down payment mortgages to credit worthy borrowers without taking on much risk.  In short, mortgage approvals should modestly improve next year.
• All in all, existing and new home sales will be rising.  Combined, there will be 5.8 million home sales in 2015, up 7 percent from last year.  Note the sales total will still be 25 percent below the decade ago level during the bubble year.  Home prices will be rising at 7 percent.  For the industry, the business revenue will be rising by 14 percent in 2015.  The revenue growth in 2016 will be additional 7 to 10 percent.  Here is the link to the entire article:http://economistsoutlook.blogs.realtor.org/2015/07/01/economic-and-forecast-update-july-1-2015/

The article, Home Prices Starting To Gain Ground, Buyers Are Gaining Confidence On Real Estate Again, fromwww.realtytoday.com, reports that the United States Housing Market has finally clawed its way to recovery as consumers are gaining confidence that can be translated into more sales in the coming days, says Realtor. According to the United States National Housing Price Index, which is responsible for tracking home prices across the US, there was an annual gain of 4.2% in April 2015 and the 20 city composites increased by 4.9% while the 10 city composites showed a 4.6% increase which is a very good sign in for the realty industry. Realtor's chief economist Jonathan Smoke said that all the sales data points in May are strong; in fact the best and healthiest since the peak of the real estate boom back in 2006. The economist added that the data represents February to April, which is still under the effects of the wicked winter. He also said that the number is a sign of a steady and above average price appreciation. Another expert in the industry, Lynn Franco, said that consumers are in considerably better spirits and they have renewed optimism will lead into a greater willingness to spend in the near term. Franco also said that the rising prices give the consumer the logic that what you will buy today will not be worth less tomorrow.  Here is the link to the entire article: http://www.realtytoday.com/articles/18272/20150701/home-prices-starting-to-gain-ground-buyers-are-gaining-confidence-on-real-estate-again.htm

Final Listing Video

85028 What is Your Home Worth?

Curious About Your 85028 Home Value?

Visit www.AudreyTolley.com to enter your custom code to get your homes estimated home value. 

85028 Feb. 2015 Market Statistics

85028 Inventory Active Listings are down 7.86%

Most Homes are Purchased with Conventional Loan or Cash in this Phoenix neighborhood.
Very few FHA or VA loans. 

85028 Local Market Insight

Median sold Price $307,020 is up 6% from last year.
Average Days on market sits at 109 days but listings are selling for 94.5% of Original List Price