Those Real Estate Sisters

Flower Child and North Italia are set to open across the street from the SanTan Village shopping center in Gilbert towards the end of September!

Exciting news for all of our Southeast Valley clients and soon-to-be homeowners 🎉

📸: Fox Restaurant Concepts and Phoenix Business Journal

Just Closed in Phoenix! 🎉

Our sweet seller has officially sold her home of 30 years. It was a sale that had us feeling all the feels. We are so happy for her and for the buyers who just purchased a beautiful home that was well loved and cared for.

myhouse

Under Contract in Gilbert! 🎉

Our first time home buyer has been watching the market and preparing for his home purchase for the past few months. He spoke to multiple lenders to compare rates, got pre-approved and toured homes that fit his search criteria and budget. We are happy to announce that he has found exactly what he was looking for. He just went under contract on a brand new townhome that is being built and will ready for move in mid-January. He picked his finishes and will get to watch him first home be built from the ground up. Looking forward to guiding him through each step.

“There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens if we go all the way back to 1985? Or even 1975?

Obviously, the price of a home has appreciated dramatically over the last 45 years. So have the prices of milk, bread, and just about every other consumable. Prices rise over time – we know it as inflation.

However, when we look at housing, price is just one component that makes up the monthly cost of the home. Another key factor is the mortgage rate at the time of purchase…”

Swipe to see the chart with mortgage affordability when adjusted for inflation —>

“As the chart shows, when adjusted for inflation, there were only two times in the last 45 years that it was less expensive to own a home than it is today.
1. Last year: Prices saw strong appreciation over the last year and mortgage rates have remained relatively flat. Therefore, affordability weakened.
2. 2010: Home values plummeted after the housing crash 15 years ago. One-third of all sales were distressed properties (foreclosures or short sales). They sold at major discounts and negatively impacted the value of surrounding homes – of course homes were more affordable then.

At every other point, even in 1975, it was more expensive to buy a home than it is today.

Bottom Line
If you want to buy a home, don’t let the headlines about affordability discourage you. You can’t get the deal your friend got last year, but you will get a better deal than your parents did 20 years ago and your grandparents did 40 years ago.”

Source: Keeping Current Matters