REAL ESTATE
GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
Market may look better for buyers in 85233 GSN NEWS STAFF
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f you’re looking to buy a house in Gilbert, you might want to check out neighborhoods in 85233 The Cromford Report has identified that Gilbert ZIP code as one of 10 in the Valley that have shown significant increases in single-family home supply on the market between since Sept. 1. Cromford reported that supply was up by 25 percent in 85233 – not nearly as high as the 67 percent increase in the South Phoenix ZIP of 85034 or the 52 percent in the east Mesa ZIP of 85208,
but still far higher than most areas in the Valley. Meanwhile, it looks like the traditional holiday slowdown that occurs in the market in the last quarter of the year has kept a leash of sorts on the market, according to the Cromford Report. “The market remains hot and very unbalanced in favor of sellers but the situation did not get more extreme,” it said. “This is largely due to seasonal factors. Between September and December, we always see active listings
SPOTLIGHT TLIGHT home
Amy Jones Group
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Tim Boyles
See Page 7
Welcome to the highly sought after neighborhood of Layton Lakes Listed for $462,000! See Page 6
Under contract first weekend on the market!
see MARKET page 3
Exquisite custom home in desirable gated Homestead community in South Tempe.
,9 $2
Beautiful Chandler home, located in highly sought after community of Gila Springs!
Janet Rogers
FULL SERVICE LISTING $2,995
Seller Saved $9,300
Seller Saved $22,000
Seller Saved $12,320
Seller Saved $9,700
JANET ROGERS 1355 S. Higley Rd., Suite 111, Gilbert, 85295
Direct: 602-565-0192 Office: 480-540-2213 Fax: 888-892-6490
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See Page 7
• Full Service Representation • Professional photographs of your home • Professionally installed sign • Secure MLS lockbox • Assistance with staging • Determine list price • Open Houses - many of my listings sell as a result of my open house • Weekly feedback • Present and negotiate all offers • Negotiate buyer repairs, service provider and vendor list for your convenience • AND SO MUCH MORE
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GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
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GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
MARKET from page 1
grow each year.” But potential buyers shouldn’t necessarily get their hopes up despite the fact that, as Cromford noted, “October, in particular, is a very popular month for creating a listing.” It noted that while “almost every year” shows a shift in favor of buyers in the last three months of the year, “this year it looks to be slight, though it still exists.” For example, active lists were down 13.4 percent Valley-wide from last year but they were up a tenth of a percent from the beginning of September. “Compared with August 2019, September gave us a slight increase in active listings, a noticeable drop in demand numbers (sales, pending, under contract), very little movement in sales pricing, a large upward movement in for-sale pricing and a large upward movement in under-contract pricing.” The two large increases in for-sale price and what a home finally sells for “are not so common and are the first sign of the significant uptick in pricing that inevitably follows” the supply data that Cromford tracks.
Cromford’s analysis is echoed by national outlooks by Realtor.com and S&P CoreLogic. CoreLogic, a real-estate data firm, suggested that that annual home-price growth will increase by 5.4 percent by July 2020. “That would represent a shift from what has happened over much of 2019,” Realtor.com said, noting that home prices in this year rose only about 2.1 percent over last year – when prices rose 6.3 percent. Cromford said plummeting mortgage rates this year have created “an unexpected jolt of affordability into the housing market” though it also said, “there are now significant signs of weakness in the US economy and the rest of the world.” “The Federal Reserve will often cut interest rates in a faltering economy and if they do, and if these cuts translate to even lower mortgage rates, we could see continuing jolts of affordability for the housing market,” Cromford said. “If we are to enter a recession, then the housing market will not be the leading cause like it was in 2008,” it added.
Another 7-figure wonder
This four-bedroom, four-bath house in Gilbert's Whitewing at Germann Estates community recently sold for $1.55 million. Built in 2013, the 4,877-square-foot single-story house has a "moern Mediterranean" design and was featured in the Street of Dreams Whitewing at Germann Estates "coming out party" for luxury homes in 2013, at the time the first such luxury home show of its kind in 10 years. With Contrera-trimmed archways around the front entrance and high beam ceilings detailed with Pennsylvania mushroom home, the interior exudes elegance. The massive gourmet kitchen naturally is equipped with high-end appliances.
HASTINGS FARMS – CREEKSIDE
Queen Creek, AZ | Starting from the $280s
NOW SELLING! Hastings Farms Creekside Series (Parcel-B) is a Master Planned Community located in Queen Creek at the corner of Ellsworth Road and Chandler Heights. Hastings Farms Creekside Series features six distinctive floor plans offering 3 and 4 bedroom layouts with 2 and 3 car garages. These floor plans range from 1,638 square feet to 2,884 square feet. Come visit our new model homes at Hastings Farms; Queen Creek, AZ.
WE BUILD THE PLACES WHERE LIFE’S BEST MOMENTS CAN HAPPEN. Within each Cresleigh neighborhood, you’ll find new homes thoughtfully designed to suit the needs of any generation and any lifestyle, with energy efficiency and reliability at their core. Every Cresleigh team member is passionate about building a new home that you can rely on and a new home that helps you to focus on what truly matters: creating memories with the people you love.
Welcome to the neighborhood. 23440 S 210th Street, Queen Creek, AZ 85142 Phone: (480) 888-1025 www.cresleigh.com
REAL ESTATE GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE re4
| OCTOBER 20, 2019
REAL ESTATE
GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
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Gilbert holiday season a good time to sell 5 remodeling projects to add home value BY MINDY JONES NEVAREZ GSN Guest Writer
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t’s fall y’all! It seems like every year it just hits – one day it’s too hot and the next day we’re all things pumpkin spice. Patios are packed and new restaurants are finally getting the boom in activity they’ve been waiting for since they opened their doors this summer. The real estate market is no exception and we’re tracking some interesting changes that correspond with the cooler weather and the upcoming holiday season. Active listing counts in Gilbert are about the same as they were last month but down about 15 percent from where they were last quarter. That means that despite an increase in sales over the last month, there hasn’t been enough new inventory to turn things around for buyers competing for 644 active homes in the Gilbert. Homes are selling on average at about
99 percent of their list price – which is up about 2 percent from last month’s average dollar per square foot for homes on the market and up about 9 percent from last month’s average dollar per square foot for homes under contract. When the under-contract price is trending up faster than the list price, we can expect to see an increase in pricing in the next quarter. So, while the Valley appears to be showing signs of additional listings and a slight fall in demand as we head into the holiday season, we aren’t seeing much of that in Gilbert quite yet. Gilbert continues to hold its place as the third hottest market in the valley behind Avondale and Mesa. And as the prices go up and the inventory goes down, the builders continue to build, the parks continue to open, the businesses continue to relocate, and all of the talk about Fall being a bad time to list your home goes out the proverbial window. We continue to keep our eye on highpriced cash buyer solutions for sellers, including Opendoor, Offerpad, Zillow and
newcomer Knock. as the middle two have been purchasing fewer homes in the Valley this year as compared to last year. While Opendoor’s almost doubled their buying and Knock is brand new on the scene – much of the decrease in their acquisitions have come from sellers choosing a more traditional sales route in order to maximize the equity in their home and ensure they have a true market expert helping juggle what is often a very personal, sometimes complicated, but always important move. While an economic adjustment is inevitable, its impact on the housing market in the Valley would likely be minimal – especially in Gilbert where appreciation is matched by improved infrastructure, increased parks and recreation, continued small business and corporate development and pent-up demand for housing. Buyers who have been on the fence for the past few years are likely wishing they would have bought (and maybe even sold and bought again) while sellers are getting hip to the ibuyer game and the cost that it comes with.
Despite what you may hear on the news and any short-term predictions regarding the economy and how it will or will not impact the cost of housing in your neighborhood, fall is a great time to make a move. October is traditionally a very popular time to get your home on the market and November and December are some of the busiest times for corporate relocations. Buying in a competitive market is a profitable move and selling in the same market, especially if you are moving up, can be too. Don’t be tricked into thinking that this is a short-lived treat. Don’t be a turkey and miss your window of opportunity. And definitely, don’t gamble with gelt or Santa claw your way out of the market. The holidays are a great time to make a move forward. Mindy Jones Nevarez, a Gilbert Realtor and owner of the Amy Jones Group at Keller Williams Integrity First, can be reached at 602-451-4975, Mindy@AmyJonesGroup.com or AmyJonesGroup.com
BY ALAN ANDERSON GSN Guest Writer
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s many homes in Gilbert continue to age, many homeowners are looking at ways to stay updated. Increasing your home’s property value in 2020 effectively has a lot to do with understanding the values of the modern buyer. Square footage and location are key, but energy efficiency and high-end finishes in a low-maintenance home are especially important to the modern-day property buyer. Keep these five top home renovations in mind as we approach 2020 and when it comes time to sell, you’ll be able to have your property hit the market with unmatched value. Environmentally friendly products. Today’s homeowners are eco-conscious and want to add materials that help save the environment but also offer more efficiency and cut down on energy costs.
Homeowners are looking to install efficient HVAC systems, insulate the walls and roof deck with foam and use recycled materials throughout their homes. Also, purchasing dual pane windows and dual flush toilets will help with water usage and cut energy bills by 40 percent or more. Room addition: Many homeowners are adding room additions to their homes, as it provides extra space and square footage. Look for trends in converting garages into a playroom and then building another garage, creating spa-like bathrooms and building a separate “snore” room for
partners who snore. Homeowners can expect to recoup costs around 60 percent. Kitchen renovation: Kitchens are usually the hub of the house and buyers are demanding upgraded finishes and designer touches. Look for two-tone kitchens (white with an accent of wood-stain color or accent painted finish) and more glamorous metal accents like copper, champagne bronze, glass and stone details. Depending on the scope of a kitchen remodel, homeowners can typically recoup costs as high at 73 percent. Bathroom remodel. A brand new bathroom can help inspire offers on your house and updates to this space could help you earn more money when selling. Look for stand-alone tubs and high-end mirrors with integrated LED lighting to continue to stay popular in 2020. Other trends include rain showerheads, frameless shower enclosures and curbless showers. Homeowners can look to recoup
Gilbert Real Estate Snapshot
around 66 percent. Backyard patio renovation. Whether it’s a luxurious swimming pool and cabana, an open-air kitchen and dining area or a cozy fire pit for roasting marshmallows, you’ve likely dreamed of having one, if not all, of these amenities at your home. In 2020, we will continue to see more and more homeowners looking to include outdoor living – or better yet, a design that allows for flowing indoor-outdoor living space – in their home design. And experts say homeowners will recoup about 59 percent of the costs. Remodels that yield a good return on investment makes sense as homes in Gilbert continue to age. The point of a well-chosen, well-thought-out remodel is not only the comfort and beauty it will add to your lifestyle but also the value it will add to your home. For 2020 and the coming decade, the key is to make sure your remodel is not only beautiful but functional for years to come. Alan Anderson is co-owner of Arlington Custom Builders along with his wife Brenda Southard. Information: arling-
Provided by the Amy Jones Group Your Local Real Estate Team (480) 250-3857 | www.amyjonesgroup.com
@AmyJonesGroup Each office is independently owned and operated
...a Tradition of Trust
• Average Days on Market: 46 days Up from 44 Days Last Month
• Active Listings: 633 Down from 649 Listings Last Month
• Monthly Sales: 470 Up from 421 Sales Last Month
• Listings Under Contract: 509 Down from 552 Listings Under Contract Last Month
• Average Sales Price: $400,285 Up from $389,170 Last Month
• Monthly Supply of Inventory: 1.4 Same as 1.4 Monthly Supply Last Month
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GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
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Welcome to the highly sought after neighborhood of Layton Lakes. This immaculate 2597 sf, 1 level, 3 bedroom, 2.5 bath home is located in the desirable zip code of 85297. Starting with great curb appeal & lush manicured landscaping this bright & open floor plan is filled with picturesque windows & warm neutral colors. Through the entry way you will find formal dining to one side and formal living space to the other that would also make an impressive office. Straight ahead is the great room & the perfect eat-in chef’s kitchen filled with open space, a center island, granite counters, stainless steel appliances, lots of cabinetry & plenty of room to prepare meals for the family or entertain friends. The split master retreat is roomy & private & flows thru to the master bath with dual vanities, large soaking tub & separate shower. 2 guest bedrooms & a modern guest bath each have their own private space. The yard is fully landscaped with no neighbors behind, a large covered patio & views of the Arizona sky. The 3 car garage has extra 110 & 220 outlets for a great work shop and the home has 2 x 6 construction. Just minutes from the 202 freeway, the master planned community of Layton Lakes is filled with lakes, streams, waterfalls, sports fields, trails, BBQ areas, parks & a splash park. What a wonderful life to live!
Listed for $462,000!
Under contract first weekend on the market!
(480) 250-3857 www.AmyJonesGroup.com
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GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
8291 S HOMESTEAD Lane
For Daily Updates on Available Homes visit: https://timboyles.chime.me/ We have a system and a team in place to help you find your dream home!
5728 W Harrison St, Chandler Exquisite custom home in desirable gated Homestead community in S. Tempe. Situated on a N/S corner lot surrounded by mature trees. Brick paver driveway leads to a side-entry oversized 3 car garage. Be welcomed by a majestic foyer, formal dining room and a large formal living room. This light, bright and open split floor plan features polished travertine flooring, Italian style pillars, two-tone paint throughout, plantation wood shutters, impressive coffered ceiling, wet bar and so much more! Large kitchen with kitchen island, granite slab counter tops and walk-in pantry opens to a breakfast nook with bay windows opens to large family room with built-in entertainment niches and corner gas-fireplace. Pamper yourself in the oversized master suite with seating area and en-suite with ... jetted soaking tub, plus his & hers toilets, walk-in shower. Two more over-sized bedrooms, & office/den laundry room with built-in cabinets and sink on the ground level. Surround sound in kitchen, family, dining room, master bedroom & basement. Hard to find walk-out basement is a perfect mother-in-law suite/ guest quarter set-up featuring large gaming room, wet bar, 2nd family room area and 2 more bedrooms. A sliding door leads to the outside and upstairs into the entertainers backyard. The extended flagstone tiled patio, sparkling pebble tec pool and built-in BBQ is great to unwind after a long day or invite friends and family.
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Beautiful Chandler home, located in highly sought after community of Gila Springs! Outstanding 4 bedroom, 3 bath, with a pool. One bedroom and bath downstairs!! You won’t be disappointed. Seller saves between $7,500 and $9000!!!
CALL TODAY for details on how you can save $$$!
Listed for $974,900
Call, Text Or Email me, for consultation.
Janet Rogers
Tim Boyles
602-565-0192
480-776-7066 • tim.viewhomesinphoenixaz.com
YO U R N E I G H B O R H O O D H O M E S A L E S 4509 S BANNING Drive, Gilbert, AZ, 85297 5 BD 4.5 BA 5,300 SQFT $974,900
2830 E SAN TAN Street, Chandler, AZ 85225 3 BD 2 BA 1,913 SQFT $374,900
Beautifully desert landscaping on huge 3/4 acre lot. Interior courtyard is complete with foliage & fountain, and features separate entrance to casita. Casita has private bath, fridge, microwave & sink. Inside the main home, majestic 12 foot high foyer to the separate formal living room to one side & dining room with butler’s pantry on the other. High 10-foot ceilings & chandeliers throughout, with carpet, tile & real hard wood. Huge chef-pleasing kitchen features commercial 6-burner gas cooktop, & GE Monogram appliances to name a few. Beautiful master bath with rainhead shower head with shower ledge & 1/2" glass surrounding, & oversized soaking tub. Giant master bedroom features sitting room area with exit right out to the extended covered back patio. Backyard is perfect with the pebble tech heated pool, natural travertine patio deck surrounding pool. Other features include 4-car passthrough garage. Call now!
Don’t look any further — you just found your new home! This well maintained 3 bedroom, 2 bath home with a 3-car garage in Dobson Place has it all! Light, bright and open great room split floor plan with formal dining area, very spacious kitchen, stainless steel appliances and breakfast nook, plantation wood shutters and 2-tone paint throughout, ceramic tile laid diagonally. Slate tiled covered patio and large yard, enough space to add a pool! Don’t miss the RV gate to store all your toys
Tim Boyles US Air Force Veteran Weichert Realtors Courtney Valleywide tim.viewhomesinphoenixaz.com
THINKING ABOUT SELLING? CALL TIM, YOUR LOCAL REAL ESTATE PROFESSIONAL
480-776-7066
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GILBERT SUN NEWS AN EDITION OF THE SUNDAY EAST VALLEY TRIBUNE | OCTOBER 20, 2019
Let the
Ross Murray Team help you to achieve your dream of homeownership. Our team will help over 300 families this year with their home purchase or reďŹ nance. Let us help you ďŹ nd the best possible situation to meet your personal needs.
Call today to learn more! 480-940-1230 or therossmurrayteam@homebridge.com Homebridge Financial Services, Inc.; Corporate NMLS ID #6521 (www. nmlsconsumeraccess.org); 194 Wood Avenue South, 9th Floor, Iselin, NJ 08830; (866) 933-6342. Ross Murray | Mortgage Loan Originator | NMLS #80919 | Arizona Mortgage Banker License #0922458. Branch NMLS #1006467 | 275 Rivulon Boulevard, Suite 111 Gilbert, Arizona 85297. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Indiana Mortgage Lending License #15700. Louisiana Residential Mortgage Lending License. New Mexico Mortgage Loan Company License #02315 This is not an offer for extension of credit or a commitment to lend.