REAL ESTATE
GILBERT SUN NEWS | SEPTEMBER 20, 2020
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The best thing about 2020 keeps getting better BY MINDY JONES NEVAREZ GSN Guest Writer
I
saw the best post on Facebook the other day – about not believing that it’s September already and how it seems like March was only 16 months ago. Can you relate? I’m sure you can. Whether you’ve been balancing working from home and home schooling, an unexpected change of employment or the itching desire to get out and do something – anything! – and hoping that when you open your front door, it’s not still over 110 degrees outside. It’s been a long 2020. If someone hasn’t told you lately, you are doing a great job. With continued uncertainty politically,
socially, domestically and globally, there is one piece of our local economy that remains strong and it’s something so important that we may not even truly understand how different things could have been. At the beginning of the year, the real estate market was on the fast train with low inventory, healthy buyer activity and a homebuilder community ready to start building some new options in the area. When COVID hit, many thought the real estate market careen into the nearest ditch and we’d all have to add our home value to the list of concerns we had coming our way. Unfortunately, many of those doom and gloom predictions hit the airways, causing fear in consumers and that fear par-
alyzed many from making any moves in March and April. What didn’t change, however, was the need for housing. Some might our needs with the need for home offices, home schools and maybe some more outdoor recreation options like a pool. Buyers flooded the market as the temperatures started to heat up and sellers started to see the impact to sales prices very quickly. We saw a significant drop in interest rates taking demand to historically high levels as inventory struggled to keep up. The low inventory got lower and builders’
sales agents started to feel like order takers just trying to get people in as quickly as possible. We ended the summer with less inventory than we started and now have just 8,313 listings available in all of the MLS out of about 1.5 million actual homes, townhouses and condos in the market and a population of nearly 5 million people. We’ve got just over a month’s supply Valley- wide, just under a month in plac-
SPO OTLIGHT home
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SOLD!
Welcome to this beautifully updated home in the award winning community of Power Ranch.
Melanie Nemetz
Located in the Groves of award winning Power Ranch, this single story home features 4 bedrooms and 2 bathrooms.
Each office is independently owned and operated
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Amy Jones Group
Listed for $500,000!
Our extensive, high quality marketing of your home combined with our thorough preparation of listing the home for sale, will help your home sell faster and for more money. Here is a sample of the marketing for our listings: ◆ Home Staging Report by Interior Designer & Stager ◆ Professional video of home ◆ Professional photos of home ◆ Twilight photos ◆ Community photos ◆ Aerial drone video/photos ◆ 3D Interactive floor plan - Matterport www.fosteringre.com Each office is independently owned and operated ◆ Open house first weekend on the market
480.221.3034
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