You don't want to miss this! At Locality Real Estate, we are committed to keeping you educated and informed on what's happening in our local market. As the current balanced market continues, here are a few things we are seeing: Closings with seller-paid closing costs rose 27% in July - highest it's been since March 2021 Homes are on the market a median of 21 days prior to an accepted contract - this gives buyers time for a second showing and less pressure to make a decision on the spot Properties closing over list price has declined from 58% in April to 24% August-to-date (and continues to decline) Last week of July saw 4,172 price reductions on Phoenix listings, equating to 26% of active supply for that week. The median price reduction was $15,000. As our market continues to change, it is crucial to have an experienced, knowledgeable agent to assist you. [...]

You don't want to miss this! Buyers, it's the moment you have been waiting for - more supply and less competition in Greater Phoenix!  Our active supply of homes for sale is up 40% from this time last year - this is a significant change from April where supply was only up 16% over last year. Inventory listed between $400K - $500K range is up 35% in just 3 weeks! $500K - $1M range inventory is up 99% and $1M - $1.5M inventory is up 54% both in 6 weeks.  The market is in the early stages of shifting out of an insane seller's market and could be a regular old hot seller market before we know it. For Sellers, this would mean properties still appreciate but take multiple weeks to sell, buyers don’t waive their appraisal contingency and Sellers pay for home warranties. For those sellers waiting to sell at peak price, this may be [...]

  You don't want to miss this! Our Phoenix Market is still favoring Sellers however, demand has declined in response to recent increases in interest rates. 30 days ago, buyer demand was 12% above normal now it is 6% above normal. In just a few short months, the average interest rate has gone up from 3.1% in December to 4.7% by April. This has added a $500 increase in the estimated payment on a 1,500 - 2,000 square-foot home. Rates are expected to continue to rise through 2022. This does not mean the market is at its peak, or at the precipice of a price decline. We will not see a flattening in sales prices until there's an upward shift in price reductions or seller concessions. If you have questions about the market, whether you are considering buying or selling reach out I am always eager to chat. The Brian Buffini Show [...]

  You don't want to miss this! Please click on my Logo below and visit my website, Let me know what you think? I always appreciate your feedback. The Brian Buffini Show it’s a good life podcast Launched on St. Patrick’s Day 2016, Brian’s podcast drew record-breaking downloads, quickly jumped to the top of the charts in Apple Podcasts Business category and topped 13,000,000 downloads in 178 countries. Originally called “The Brian Buffini Show”, Brian renamed the podcast “it’s a good life” on January 1st 2022. It’s all about simple tips, tools, and training for a good life. How to be good at work, good with money, good to yourself and your family, and live your best life. Listen in sometime, or join our mailing list for the inside track. Click here to listen Fountain Hills Festival of Fine Arts & Crafts February 25-27, 2022 The Fountain Festival of Fine Arts & Crafts [...]

You don't want to miss this! Here is a little more information on the market you might want to know about, give me call and lets dive in a little deeper to this information. Brian Buffini’s Bold Predictions #308 “Successful people do the work now, while everyone else is just caught up in the chaos and the speed of the market.” — Brian Buffini In today’s challenging marketplace, real estate professionals need to be prepared if they want to win. In this episode, Brian reveals his bold predictions for the industry for the next year. He shares the most up-to-date economic data available, outlines changes happening in the marketplace and explains why agents need to become even more professional if they want to better serve their clients, capitalize on opportunities and maximize success. Featuring an exclusive interview with Dr. Lawrence Yun, Chief Economist at the National Association of REALTORS®, this episode will help you [...]