Posts

Love Where You Live!

A Friendly Note to my Neighborhood-

I sincerely hope that each person reading this is doing well, staying healthy and strong. I hope, like me, you have found the personal strength to rise above the challenges not only for your family but for our community.

I wanted to make this “Neighborhood Note” a bit more personal. Since I have been spending more time around my home and less time in my car, I a noticing things about our community that have made me smile and remember why I “Love Where I Live” – the Arrowhead Ranch area in Glendale – so much! I also would like to share with you a bit about my personal journey that has led me to Arrowhead.

My favorite thing was seeing all the chalk art on the sidewalks around Arrowhead Loop – including a few Grateful Dead verses – that really brought joy to my morning walks! I love seeing families riding their bikes, walking their dogs and runners and exercise enthusiasts out on Arrowhead Loop.

Click play to watch my video featuring some of my favorite things.


A little Bit of my Personal Journey-

My husband Jeff’s position with American Express afforded us the opportunity to relocate to Arizona. We moved here from Long Island, NY in October 1995 with my 19-month old daughter. I was excited for our move but still cried the entire 5-hour plane ride ! Leaving our family and friends and all that we knew was a huge leap for us. Prior to our move, I worked for over 10 years in the medical industry. I became a full-time licensed Realtor in 2003.

Some of the things I remember the most about the early years:

-The Yellow Pages were my best friend. (Can you relate?)
-ABCO was the only supermarket located on 67th Ave south of Beardsley Rd.
-I attended the groundbreaking ceremony for the new elementary school – now knows as Legend Springs – back in 1998.
-The sweet smell of citrus from the orange groves that made up a large portion of the Arrowhead area…something I still miss!

I would love to hear about your journey and the reasons why you “Love Where We Live”! Connect with me via phone, email, or look for me on Social Media!

Elise Fay

602-329-7782
[email protected]

Covid-19’s Impact on Arizona Real Estate

Hey Everyone, Elise Fay here—hope you are all doing well and taking care of one another. Concerns about the global impact Covid-19 will have on the economy are real. And they’re scary, as the health and wellness or our families, friends and loved ones are high on everyone’s emotional radar. That said, we can be confident that, while we don’t know the exact impact the virus will have on the housing market, we do know that housing isn’t the driver.

The reasons we move: marriage, children, job changes, retirement etc—are still part of our lives. As a result we are still open for business!

Let me share with you a few facts from yours truly, based upon what we are seeing, boots on the ground. Since March 15th, 2020:

-4040 homes were put under contract.
-3233 NEW listings were added to the market
-3481 homes successfully closed in Maricopa County—those are buyers and sellers who sold their homes and went thru with the sale despite the Corona Virus effect.

Personally, our team has put 19 deals under contract, 25 deals have closed. So if you think these numbers look promising but you are still scratching your head…Here is the how and why. It still goes back to Supply and Demand.

We still have a lack of sellers. Low supply of homes is the result of several factors—I will share with you a few of them.

-New Builds: we have half the number of new builds to the market than we did in the early 2000’s and this is due to labor shortages, some gov’t regulations and in most cases, not enough available land.
-During the last recovery we saw savvy investors and some of the larger institutional investors buy up a lot of homes that were in short sale or foreclosure. These investors were building up their portfolios and had plans to either sell on the upside or hold them as rentals. Well with rents on the rise, as a result of the short supply of sellers, these landlords are NOT selling and instead holding on tight to their investments. Being a landlord IS profitable right now!
-Empty nesters who weathered the downturn in the market years back, are now keeping their homes on average about 13 years—some are still a bit frozen, unable to unlock all their equity. Let’s not forget the HGTV effect that we are seeing on some of these older and dated properties.

Right now, we are seeing that demand is being dampened by the Corona outbreak and as a result we are seeing that inventory is loosening up, making more homes available and in some price ranges, lessening the competition a bit. We are seeing this in the market space where millennials may be entering for the 1st time. Interest rates are still at an all-time low, making owning a home cheaper than renting. Lending guidelines have tightened up a bit but that is another level of protection that has been put in place.

We have a crazy new normal. We are out showing homes, taking greater precautions; we wear gloves, carry hand sanitizer and retain a safe distance. We also have protocols in place to protect our sellers. In Arizona, housing is a huge economic driver for our economy—I am not here to sugar coat anything but just want to let you know that we are not seeing doom and gloom at this point.

If you have questions about what it means for your family’s homebuying or selling plans, reach out to me. I will be happy to answer any questions or address any concerns you may have. 602-329-7782

Covid-19

Extra Precautions While Showing Homes During the Coronavirus

hand sanitizerThe Coronavirus is having a mixed impact on the housing market. It may be decreasing buyer traffic, yet it’s also not deterring some home buyers and sellers from taking advantage of the lowest mortgage rates in history. To help keep my buyers and sellers healthy during this unprecedented pandemic, I have adjusted and added some procedures when showing homes for sale:

-All of my open houses have been suspended. For now I will only doing private showings of homes to one person (or couple).
-At this time, while I am only doing private showings, I will ask buyers to meet me at each home instead of driving with them.
-I will do my best to arrive before each showing to open doors and windows to minimize door knob touching and allow fresh air inside. I will also sanitize door knobs, counters and other high traffic touch areas before and after each showing.
-Additionally, I will have hand sanitizer and gloves, or ask clients to place their hands in their pockets as they tour the home.
-I will also be using video chats for virtual tours and walkthroughs so my clients can social distance themselves by staying at home in quarantines/self-isolation, while still allowing them to see the homes.

Please don’t hesitate to reach out to me with any questions you have about how the Coronavirus/Covid-19 may be affecting the Arizona real estate market. 602-329-7782

1st Quarter Real Estate Updates

As we finish the first quarter of 2020, I have some surprising facts to share:

-As we move into 2020 there are currently 12,742 active listings or homes for sale in our marketplace.

-As we entered into 2019, we had 16,428 homes ofr sale. No one predicted those numbers for 2019, as that was the lowest inventory we had seen in over 8 years, until now.

-Did you know that we sold an average of 8300 homes per month in 2019? On average 4% more homes per month were sold in 2019 with far fewer inventory than ever before!

-2019 brought us, depending on your area, 5-8% price appreciation. Averaging out to about 6.3% appreciation.

BUYERS: We have amassed a list of homes from sellers who reached out and said if we had a buyer they would sell or they just were not ready to list buy wanted to sell. IF you are a buyer, call us! WE can help you find the right home amidst all the low supply.

SELLERS: Selling your home to an owner occupant will typically yield you 3-7% more money! If you want to sell your home to an owner occupant with minimal hassle and inconvenience-call me. No obligation, no commitments or contracts. My extensive reach can find you a buyer, one who will be an owner occupant and get you top dollar!

Real Estate 2020 brings you lots of options and opportunities while still providing the highest level of customer service!

Tips on Improving Your Credit Score to Prepare for Home Ownership

If you are currently renting and are considering purchasing a home you may need to check a few things before you begin your search.  One of the most important things to know before you venture into home ownership is what your credit score is.

Your credit score will tell you everything about your credit history and this is what lenders will be looking at when deciding whether to approve you for a home loan.  You may have thought you were doing everything right but your credit score will be the deciding factor.  Read more

Condominium VS Townhome

scottsdale condoCondominiums and townhomes are very popular real estate options for several types of buyers, from recent college graduates and Millennials to Baby Boomers and empty nesters. They are also smart investment opportunities in certain communities, as often they can be easily rented out on short and long term bases. But while these two types of dwelling share many similar features, they are, in fact, two different structures for purposes of real estate.

Condominiums, generally speaking, are one of many units inside a larger building, that can sometimes be several stories high. Legally speaking, you’re buying “air space” when you purchase a condominium, as you are purchasing everything within the walls of the unit you buy. You are also purchasing a fraction of the condo community itself. This fraction is based on the number of units in the complex, so if there are 25 units, you own one-twenty fifth of the community. This gives condo owners interest in the common areas of the community itself.

Townhomes, on the other hand, include the land on which the townhome sits. While condos are typically all on one level inside the space, townhomes often are built vertically, with multiple stories within the home. This is to maximize the land space, as well as maximize the interior space. Townhomes, unlike single-family homes, typically have shared walls, at least on one side of the home. Unlike in a condominium, however, there are rarely neighbors above or below the townhome residents. While condominium owners are typically not responsible for exterior maintenance or upkeep, townhome owners usually are responsible for these items, including any roof repairs or replacement.

Whether you are interested in condominiums or townhomes, there are many options in every price range throughout Glendale and the valley. I look forward to helping you explore these home ownership opportunities! 602-329-7782

Decorating Beyond Grays

modern kitchenDid you just recently buy a new house, or are you considering redecorating your current house? If you’ve got an eye on the decorating world, you know everything gray! Gray has been in the spotlight for a while now, but there’s a hot movement for colors, bold shapes and other trending decorating styles that you might find inspiring.

Geometry: Backsplash tile, wallpapers, bold rugs and even lampshades: If it’s angled, it’s in. The increasing popularity of a simple geometric form adds a modern flair and a bold edge to almost any space.

Bold sofas: Is it red? Wonderful. Is it velvet? Even better. Design trends are renouncing the plain for something that pops in the living room.

Marble, terrazzo and stone: Two are bold, the other sparse. But all are making a comeback in design trends, from lavish marble countertops to austere stone tables to funky, chunky terrazzo tiles.

Metallics: Take a few picks from copper, silver, gold or even rose gold to achieve a trending affection for mixed metal accents.

Macrame: Not just for the 70s anymore, macrame is back in action prominently as plant holders, but inside the home it also is adding a vintage touch hanging on walls and as textured fringe.

Warm color palette: Design color trends are shifting from cool tones to embrace warm browns and earthy, light accents. Yellows and browns make spaces more inviting while still retaining a minimalist sense of style.

Colorful cabinets: Move over, white. Kitchen design is all about the blue, green and other cool, moody shades for a cabinet look.

Southwest inspiration: Lucky for us, cacti are cool. The modern Southwest feel is especially trendy, so break out that ceramic pot, woven rug or rough-hewn basket.

Let me know what type of a home you are looking for.  I can help you find a home that meets your needs and decorating style! 602-329-7782

If the First Offer the Best Offer?

phoenix real estateHave you ever sold a house before? Are you going through the process of selling your house right now? Whether you’ve been through it before or this is your first time dealing with the ups and downs of home selling, you probably fully understand the temptation to take the first offer you get on your home. You may have even heard the myth that the first offer is always the best offer you’re going to get. But how true is this? Should you wait around for a better offer to come along?

If the offer comes right away…
Then it may not be the best offer. If you get an offer on your home within 24 hours of listing it for sale with your realtor, that offer may come from someone who is trying to see how low you’re willing to go on the property. On the other hand, it might come from a potential buyer who has been shopping around for a long time. That buyer’s agent may have shown them your home knowing it’s perfect for what they’re looking for. And if this is the case, you may get a great offer. If you get an offer at or very near your asking price right away, chance are you probably won’t get something higher later on.

If the offer comes delayed…
Then it probably is the best offer you’re going to get. If your home is priced above the usual asking price for properties in your neighborhood, most buyers are probably passing on making any offer at all, thinking you won’t accept what they may be willing to pay. After a while, a serious buyer may come along and put in an offer after watching the market in your area for a few weeks. If this happens, you’re probably not going to get a better offer at your current asking price, so it’s probably a good idea to go ahead and take that offer.

So is the first offer the best offer?
Most of the time, yes. Of course, it is your choice to wait and see if you get something better, especially if the offers you’re getting are coming in significantly under your asking price. However, you may end regretting for not taking one of those initial offers, especially if your house stays on the market for weeks and even months to come. Don’t settle for a price you know is far below the value of your home, but don’t be afraid to take that first offer, either.

As an experienced real estate agent, I will advise you on how to get the most dollar for your home and develop an effective marketing strategy. Call me today to learn more how I can help you get top dollar when selling your home! 602-329-7782

Choosing a Neighborhood for your Needs and Lifestyle

arizona neighborhoodWhen you’re buying a home, you’re probably going to spend some time considering the part of town (or the part of the state) where you want to be located. It’s normal to want to consider the location of your new home, but what exactly should you be looking for? It may be a challenge to figure out the factors you need to consider when looking for the perfect new place to live. Sure, you know you want to be close to work or near your family, but what else? What could help you find the neighborhood of your dreams? Check out our tips below to help you decide.

Home Style
Do you want a specific architectural style in your home? Or do you not really care as long as it has the amenities you’re looking for? Think about whether or not the style factors in your decision and you may narrow down your neighborhood from there.

Up-and-Coming Communities
Communities that are still developing may be more affordable when you’re looking to buy a home. As long as you’re willing to have a little patience for a few years as the neighborhood grows, you may get a great deal on a home in an area that you like.

School Districts
If you have children or are planning to have children, make sure you pick a neighborhood with high rated school.  Some neighborhoods with an average school grading may suffice, but stay away from those that don’t generally perform well in your area.

Proximity to Hobbies
Do you love hiking? Golf? Boating? Going to the dog park? Hitting up the mall every weekend? No matter what your hobbies might be, make sure you choose a location that won’t leave you sitting in traffic for hours to get to them.

Neighborhood Safety
Drive around the neighborhood you’re considering in the afternoon or early evening. Do you see people outside working on their lawns or playing with their kids? If so, this is probably a safe neighborhood. Drive through the neighborhood at night. See if there are any streetlights in the area or if it’s just dark everywhere. Do you see people out walking their dog or taking a nighttime bike ride, or is everything closed up and quiet? This can be a good indicator of the type of neighborhood you’re looking at, too.

I’m a local area expert in Glendale, Peoria and surrounding areas.  I can help you find a home that is right for you.  Click here to learn about neighborhoods and view homes for sale or call me at 602-329-7782!

Desert Living: Why Arizona is the “It” Place

Arizona livingIf you’re thinking about relocating to Arizona, you’re in for a treat. There are a lot of incredible reasons to love Arizona. So whether you’re a new resident or a local who’s lived here your whole life, you’re sure to find something you’ll enjoy about this great state. Though the long-time residents of Arizona have always known how wonderful it can really be, it’s beginning to be more and more popular with people looking to move somewhere with a great climate and plenty to see, do, and get involved in, too. Check out the list we’ve put together below to see what might draw you to Arizona, too.

The Desert Scenery

You can’t beat the kind of scenery going on in Arizona. This state is full of incredible vistas and amazing mountain ranges, desert colors and flora and fauna you’ll have to see to believe. Depending on where you live, you might even have a great view of the desert right outside your own window.

Plenty of Outdoor Experiences

Do you love getting out and exploring the great outdoors? How about biking, hiking, horseback riding, or playing outdoor sports all year round? With the great weather in Arizona, you can do all that and a lot more. Plus, there are so many incredible outdoor locations to explore that you’ll never run out of options.

Wine Country

Arizona has a great wine country, especially in the Sedona Valley region. There are tons of great wine tours you can join just about anywhere in the state, and most vineyards will gladly offer a tour as well.

Golf, Golf, Golf

Arizona is where it’s at when it comes to golfing. There are dozens of golf courses in any given part of Arizona, so no matter what you’re looking for, you’re sure to find it. And if you live in a gated community you may even end up with a golf course as part of your home’s amenities, too!

Great Local Cuisine

Foodies are falling in love with Arizona because of the unique cultural dining experiences to be found throughout the state. Don’t be afraid to try all the variations of cactus you can find, including jelly, honey, and even margaritas made with cactus ingredients.

Get to the Grand Canyon

Last but not least, the Grand Canyon is in Arizona, and you can get there pretty easily from anywhere in the state. Visiting this site is a unique experience every time, so it’s worth it to get out and explore—especially if you’ve never gotten to before.

When you’re ready to find your new home in the Arizona desert, call me at 602-329-7762.