City of Maricopa – Market Update for June 2018

This market report is for the City of Maricopa. Interested in another city? Please feel free to contact us anytime!

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Cromford Report – Phoenix Metro Real Estate Update as of July 6, 2018 with commentary

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Swimming Pools…aaaahhhh

Do I have our attention? When it’s hot outside, swimming pools are a wonderful thing to have in your own backyard. I found a great website to help you build and/or care for your existing pool.

Check out Essentials for Pools. There are many articles on the page on how to choose your pool, the estimated costs to own, and specific care.

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The world’s first family to live in a 3D-printed home

A family in France has become the first in the world to move into a 3D-printed house. The four-bedroom property is a prototype for bigger projects aiming to make housebuilding quicker and cheaper. Could it cause a shift in the building industry?

Check out the video  and article here



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Things to do in Phoenix this Weekend

Local Events, Movies & Sports
June 28- July 1, 2018 – Phoenix, AZ

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Why Homeowners Aren’t Moving and Renters Aren’t Buying

Housing affordability continues to be the crux for concern among homeowners and potential homebuyers, making them more likely to move less often and thereby contributing to the shortage of existing homes on the market, according to Fannie Mae’s latest National Housing Survey published on Wednesday. Read Full Article Here

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Re-thinking the Open House

When we are doing a listing presentation to potential new clients, a very common question is “Do you hold Open Houses?”. Our general response is we will do one only if it is important to the client. Why? For the simple reason, open houses are to the benefit of the agent and they do not help us find  a qualified buyer for the home. Open houses are a thing of the past as today’s serious buyer will spend most of their time looking for their new home on the internet.

Here’s an article that finally hits many of the reasons on why Open Houses are not necessary to sell your home.

Is an Open House Necessary When Selling A Home?




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Do You Need A Home Warranty? The Benefits and Drawbacks

When you purchase a home, even a home that isn’t new, there is a very good chance that you will be offered a home warranty. The seller may offer to purchase one on your behalf to provide peace of mind that any component of the home that fails can be fixed affordably. If not, you will likely receive numerous mail solicitations to purchase a home warranty once the sale closes. A home warranty may sound like a great form of financial protection against expensive, unforeseen home repairs. But is it really the safety net homeowners expect?   Full Article – Do you need a home warranty?



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Experts Are Eyeing a Recession in 2020—but It’s Not Why You Think

The economy is on a roaring run. Is a downturn imminent?

Experts in housing are predicting a recession starting in 2020, according to Zillow’s 2018 Q2 Home Price Expectations Survey; however, they anticipate monetary policy—not the housing market—as primarily responsible for the swing.

The Federal Reserve has been guiding fiscal policy since the Great Recession, gradually firming up interest rates—the Fed hiked rates recently, and there are fair odds the policymaker will do the same this summer, and once more after that this year. According to the experts surveyed, if the Fed moves too rapidly on rates, the economy could lose steam.

There are housing implications when rates rise. Not only can adjustable interest on mortgages rise; affordability can suffer, and confidence can be deterred—an impact more often pseudo-psychological than tangible. (According to an informal poll, 83 percent of our readers believe an increase in interest rates is “harmful to real estate.”) The adjustable mortgage rate is at an average 3.82 percent, according to Freddie Mac, and affordability is at its lowest in six years, the National Association of REALTORS® (NAR) reports.

Barring major market shifts, appreciation will continue on its current tear, according to the experts surveyed. They forecast home values will increase 5.5 percent in 2018, to a median $220,800.

“As we close in on the longest economic expansion this country has ever seen, meaningfully higher interest rates should eventually slow the frenetic pace of home value appreciation that we have seen over the past few years—a welcome respite for would-be buyers,” says Aaron Terrazas, senior economist at Zillow. “Housing affordability is a critical issue in nearly every market across the country, and while much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn.”

“Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices,” says Terry Loebs, founder of Pulsenomics, which conducted the survey with Zillow. “These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective homebuyers.”

Over 100 experts participated in the survey.

For more information, please visit

DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at For the latest real estate news and trends, bookmark


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Buying Your First Home? Plan for These Hidden Costs

Buying your first home can be an exciting time. You’ve been planning, saving for your down-payment/closing costs and you’ve met with your Loan Officer. But the one thing the loan officer won’t cover for you are the hidden costs that can occur after you buy the home.

Check out the hidden costs that may surprise you


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