Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 23, 2020

November 2020 Phoenix Metro Real Estate Market Update

This year has been a rough year for so many people, and despite a pandemic, hurricanes, fires, elections, the Phoenix real estate market is thriving.

Real Estate Sales Volume year-to-date through October has exceeded 32 billion dollars, valleywide. This is 14% higher than the sales volume last year this time.

Prices have significantly increased this year but the biggest surprise that is impacting the Valley is the mix of homes sold.

Luxury market sales - that is homes sold over one million dollars - have increased 49% over 2019. 

First-time home buyers and investors, who are looking for homes priced under $250,000 have fewer choices, however.

Demand is far higher than supply, helping new listings sell faster.

If you currently own a home, you probably get phone calls and letters from investors, looking to buy for cash. Before making any decision to buy or sell your home, please give me a call. Navigating this ever-changing market takes a full-time realtor who understands the market and is committed to helping you achieve your goals.

Please call me at 480-966-9353, Steffy Hristova with HomeSmart Elite Group.

 

Nov. 15, 2020

Just listed - Incredible Five Acre Lot in Cave Creek AZ

Why Do People Build Their Homes Here?

Three main reasons:

- secluded beauty in the Sonoran Desert

- large lots (most of them are 5 acres)

- 10-15 minute to large city amenities

Looking for Vacant Land in Cave Creek, AZ?

Please click on the link and find out details about this lot.

To see all lots for sale in Cave Creek AZ, please follow this link.

$399,000 - Incredible Five Acre Lot - 3101 E ROCKAWAY HILLS RD 211-64-007P, Cave Creek, AZ 85331

This 5-acre lot in Cave Creek AZ is an incredible opportunity to build your dream home in a secluded area, yet close to large metro amenities. Cave Creek is at an elevation of approx. 2,200 feet, just north of Phoenix.

View from 3101 E Rockaway Hills Rd, Cave Creek, November 2020, photo Steffy Hristova

The fantastic 5-acre lot borders the Maricopa trail and state land and has views of beautiful desert open space. Think about amazing sunrise and sunset colors, brilliant night skies.

Imagine your home here and just down the driveway, your office - won't this beat the commute via the busy freeways. Level building site envelope. Notice the well - already on the property, also available are electric and telephone utilities to the lot. 

 

Well on the property and Electric Post nearby, November 2020, photo Steffy Hristova

If you decide to visit the place yourself, the street signs will help you. As always you can call me at 480-966-9353 for additional directions. Notice on the photo above and on the one below the recently paved road.  It will be a pleasant, scenic drive. Close to this turn, park your vehicle, and walk along the Maricopa trail sign and to the lot. You will easily recognize it by the well and the electric post.

 

        

Street and Trail Signs, November 2020, photo Steffy Hristova

One more thing, if you are a horse-lover, it's a great location for a horse setup, too. The property is already zoned for horse boarding, breeding, and training. 

Architectural drawings for a home are available, should you like to use them. I attend often the architectural tours and can connect you with architects who live in the area, and who have graciously opened their homes for the tours. Electricity, well, improved roads to the property. If you hike, ride, or mountain bike, you will love this property and location - you can easily access the Cave Creek Park trails, Spur Cross Trails, Tonto National Forest. Unrivaled privacy, yet close to shopping - 10 min to Sprouts, HomeDepot, Walmart, Starbuck's, Abrazo Hospital (opening in mid-2021).

You may also want to take a drive further up the road to the site of the future Frank-Lloyd-Wright-inspired Cahava Springs Development.

What's Cave Creek Like?

Rolling hills with saguaro forests, a cave and a creek which gave the name of the town, feel of a small town with character. Several of the architect's homes I saw on tour in 2012 are quite clearly staying in my mind. I probably have to get permission to post my tour photos, but I found the website where you can take a look at at least one of them: https://www.mpjstudio.com/01johnson  This is  a modern home, built ahead of its time in 1993 by architect Michael Johnson. The main house sits on concrete columns to elevate the view. There is a separate structure, which can be a studio, or a guest house.  The other home, stuck in my daydreaming mind, is architect Fred Osmon's - it consists of four 800-square-feet pods that are encircled by a wall. Each pod has its function and identity - kitchen/dining area; studio/work place, bedrooms and meditation/yoga/mind-soul nurture place. The latter has no roof, and has stunning Nature views framed by the structure's windows. 

Check out the video Discover a Jewel on Desert Fothills' Land trust website: 

 

What's Happening in Cave Creek?

Events can be seen posted on the calendars of several websites. My favourite one is Cave Creek Museum. Cave Creek Museum is the organizer of the Architecturally Significant Home Tours, too. For a free admission to the Museum, check out your local public libraries - they provide a free culture pass, and Cave Creek Museum is included in the program.

Hidden in the Hills is the name of the annual artist's studio tour - it will be its 24th year this November. It takes place the last 2 week-ends of November. It's a self-guided tour featuring 140 artists at 35 private studios throughout the scenic Desert Foothills communities of Cave Creek, Carefree and North Scottsdale. Click on the link to see the map of the tours on Friday – Sunday, Nov. 20, 21 & 22 and Nov. 27, 28 & 29 from 10 am to 5 pm.

 

What Schools Will the Kids Attend?

There are choices between public, private and charter schools. Greatschools.org lists total of 25 schools - pre-schools, elementary, middle. For a town of approximately 5,500 residents, that's a great number of choices. 

 

Now you really want to find a home here, Right?

If you are interested in the current homes for sale in Cave Creek, please click here. This is a direct link to the MLS and provides the most accurate information. I will be happy to arrange viewings for homes which you like - call me at 480-966-9353 Steffy Hristova.

 

Quick Links to websites:

10-15 minutes from 3101 E ROCKAWAY HILLS RD 211-64-007P, Cave Creek, AZ 85331  to:

- Sprouts Natural and Organic Farmer's Market (5355 E. Carefree Hwy, Building A, Cave Creek, AZ 85331) 

- Fry's at Sonoran Foothills Supermarket

- Home Depot

- Lowe's

- Starbuck's

- Heart and Soul Cafe and Saloon

- Chase Bank

- Full Circle Ranch Bed and Breakfast - 

- Abrazo Cave Creek Hospital ( opens mid-2021)

 

 

 

 

Posted in Listings
Nov. 7, 2020

Buyers Will Reward The Seller with a Smooth Transaction

I read an insightful post by Realtor and Blogger Joan Cox about how Buyers reward the Seller with a smooth transaction when all the deferred maintenance has been taken care of before the house has been put on the market, and wanted to share it on my blog here, too.

You can read the original post following this link:

When a Seller Prepares a Home for Sale - the Buyers will Reward the Seller

 

The author makes a very strong point, that if Sellers take care of deferred maintenance, before the house is on the market, the Buyers will reward the Seller with a smooth transaction.

Deferred maintenance is not liked by Buyers even in a strong Seller market. 

Posted in Home Selling
Oct. 27, 2020

Picturesque Trip to Sedona - Two-Hour Drive from Phoenix

Sedona is becoming one of our favorite getaways. It is close to Phoenix and allows for the spontaneity of the decision to spend a day in Nature, yet to be close to a variety of dining places.

I can never stop taking photos when we are near Oak Creek - the water, meandering around big boulders and rocks is crystal clear. We have spotted trout and other fish, too.

It takes us about 45 minutes to get out of the Phoenix Metro area from our central location in Tempe. After that the speed limit on I-17 for most of the route is 75 miles per hour.

And our stop at the Camp Verde's Starbuck's usually fuels us with a nice cup of coffee. We greet the largest Kokopelli in the world and continue our trip to Sedona.

Shortly after that we leave I-17, and head towards Sedona. The red rocks are so incredible, I love watching them from every angle I can. They have been photographed by so many artists.

Since we are always late for parking at Slide Rock, we found other places along the creek, which we came to love.

Sometimes we stop at the open shopping area Tlaquepaque - it's an Arts & Shopping Village with beautiful landscaping, architecture, and attractive shops, cafes and restaurants.

 

A trip to Sedona is a great way to feel re-energized and rejuvenated!

If you start looking for a home to sell or buy in the Phoenix Metro area, please call me. Market updates are always available on my YouTube Channel and on my blog. Visits to my website https://www.talktosteffy.com and My YouTube Channel are always welcome and if you like them, please subscribe.

Sept. 29, 2020

September 2020 Phoenix Real Estate Market Update

Posted in Market Updates
Sept. 6, 2020

KNOELL TEMPE UNIT 2 Subdivision - Tempe AZ 85282

KNOELL TEMPE UNIT 2 is a subdivion, consisting of about 315 single family homes. 

Its location at the Tempe/ Mesa border is quite desirable as it allows easy access to Loop 101 and Freeway 60. Getting on Loop 101 North is also an easy connection to Scottsdale. Ehrhardt Park is nearby, the subdivision borders with the lovely Tempe Friendship Village. Mesa Community College and Banner Health Hospital are a little further east along Southern Avenue.

  

The size of homes in KNOELL TEMPE UNIT 2 vary from about about 1300 sq.ft. to 2300 sq.ft. The homes were built between 1970 and 1971, one home in the subdivision was entirely rebuilt in 2015. 

 

The most prevalent size of home is 1288 sq.ft. - there are 59 homes of this size. I recently sold a home with this floor plan. It's a great starter home floor plan with 3 bedrooms, 2 bathrooms. Most likely, over the years owners have updated and changed floor plans.

The second most prevalent size is 1,669 sq.ft , represented by 43 homes of this size, with four bedrooms and two bathrooms, and two-car garages. 

 

There are about 30 homes with size between 1700 sq.ft. and 1800 sq.ft.

There are 27 homes between 1801 sq.ft. and 1900 sq.ft., and about 11 homes have various sizes between 1906 sq.ft. and 2,300 sq.ft.

Many corner homes have large RV/larger vehicle gates.

In 2019 there were 18 sales, ranging from $226,000-$345,000. 

 

In 2020, the low inventory has not impacted the number of sales in this subdivision – so far there have been 20 sales, with prices ranging from $220,000 to $396,000.

 

If you would like to see any homes listed for sale in this lovely Tempe subdivision, please connect with me at tel: 480-966-9353. I will be delighted to offer you a tour and share my knowledge of the neighborhood. Click on the links to see more photos of the homes currently for sale.

 

Aug. 29, 2020

August 2020 Phoenix Real Estate Market Update

The real estate market is hot in Phoenix AZ. And just like the weather it seems to be setting records at an all time high. The average sales price reached a new level at $393,000 in July, 2020. This surpassed the previous record set in May of this year at $378,000.

If you would like details about a specific area of the Valley, a deeper look into the details of the market, please email me or call. Steffy HomeSmart Elite Group Tel: 480-966-9353.

Posted in Market Updates
Aug. 28, 2020

Walking Along the Ridge of the Buttes

It was an evening with amazing colors in the sky.

.

I can see that many hikers have decided to enjoy the views from the top of the buttes. The 108 degrees F were not in the way. After a while we get used to those temperatures.

Steffy Hristova Papago Park Buttes

Posted in Photo of the Day
Aug. 23, 2020

Broadway Terrace Condominiums Tempe AZ 85282

Broadway Terrace is a condominium complex in Tempe AZ 85282. It is located off of Broadway Road, and very close to College Ave. It is a desirable location for people who are connected with Arizona State University, Tempe Campus. 

Broadway Terrace Steffy Hristova

The community consists of 30 condominiums, most of them are 2 bedroom units.

There are 6 units, smaller than 1,000 sq. ft. -  two units are 560 sq.ft., and four units are 775 sq.ft.

The most popular size is 1,008 sq.ft. - there are 16 units of this size. It is a split level, the bedrooms being on the upper level, and the living room and kitchen on the lower level. Some of them have balconies. 

The remaining 8 units are sizes, ranging from - 1,021 sq.ft. (2), 1,028 sq.ft.(2) amd 1,088 sq.ft. (4).

I just sold a condo in the complex - the 1,028 sq.ft. size - it has vaulted ceilings, natural light from high windows, close to the ceiling, balcony, inside laundry. It is one of my favorite models, all on one level.

The smaller units (775 sq.ft.) can be found at prices around $132,500 - $151,000.

The larger units (1,021 sq.ft.) most recently closed at $187,400.

There are two units on the market right now - one of them has a list price of $ 225,000, and the other one at  $191,900 is under contract.

The home owners association dues are $250 per month, and includes exterior maintenance, pool maintenance, roof repair, water/sewer/garbage and blanket insurance.

If you are looking to find a condo or townhome in Tempe, I will be delighted to provide you with an overview of the inventory and find you one that you will love. 

 

 

July 25, 2020

July 2020 Market Frenzy Phoenix Real Estate Market

In a typical real estate market in the Phoenix Metro area, we usually see two-three months supply of homes for sale. In July 2020, we have less than a month supply of homes. And if we look at homes under $500,000 price point, it is 21 days of inventory. 

That means that if no one lists their home for sale it would take us less than a month to exhaust our current supply of homes - and that includes family homes, condos, townhomes and mobile and manufactured homes. We call this frenzy.

The video has infographics about the market. Please watch and if you like it, give us a 'like' and subscribe to our channel for the monthly Phoenix market updates.

 

 

Let me help you in this market - my experience and knowledge will work for you!

Posted in Market Updates