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Frozen Cocktails Across the Valley
As the valley heats up, how do you stay cool? I love a dip in the pool and a nice frozen cocktail while out for dinner. Here are a few of my favorites found at restaurants across the valley.
Peach Bellini’s at Oregano’s
Officially called the original Gibbilini Bellini, Oregano’s (locations across the valley) used to limit you to two bellini’s per visit because they pack a punch with rum, champagne, peach schnapps, and chianti. Like many other products, they got smaller over time so I don’t think they do that anymore. I prefer to order mine without the chianti but try it “as is” first.
Frozé at Sol Mexican Cocina
Frozé can be found on the brunch menu at Sol Mexican Cochina located at the Scottsdale Quarter but I’ve never been there for brunch and have enjoyed it a number of times for dinner or happy hour. They also have a couple of frozen margaritas, including one with mango purée in a chile-salted glass. With that heat, I’m not sure if it cools you down or heats you up, though!
Frozen Mai Tai at Tommy Bahama’s
While shopping at Kierland Commons or as a destination, consider stopping at Tommy Bahama’s for a frozen mai tai. It’s served with a beautiful bright orchid garnish. They also make a mean piña colada! Whichever you choose, I would suggest an Uber if you plan to have more than one.
Frozen Black Cherry Sangria at Jalapeño Inferno
There are several frozen cocktails at Jalepeno Inferno but I’ve only had the frozen black cherry sangria. Unfortunately, they recently closed their DC Ranch location but their other Scottsdale location and Peoria location are still open.
Arizona Frozé
I have not been to Arizona Frozé in Old Town Scottsdale yet but I plan to visit soon! They’re known for their frozen wine, offering five alcohol flavors and one non-alcohol flavor on tap at any given time. They also sell wine bottles, pouches and a variety 6-pack of popsicles to go.
If you also enjoy frozen cocktails across the valley and have others you’d recommend, please share by commenting below!
Metro Phoenix Housing Market Update
The metro Phoenix housing market update is interesting this month because we see a further movement away from seasonality. As a whole, the residential housing market is balanced but there are differences across the valley. In fact, the majority of the market is in a soft seller’s market.
- Seller’s markets – Chandler, Sun Lakes, Fountain Hills, Apache Junction, Tolleson, Tempe, Avondale, Gilbert, Anthem, Mesa, Glendale, El Mirage, Phoenix, Scottsdale, Paradise Valley, Litchfield Park, Peoria
- Balanced markets – Goodyear, Cave Creek, Surprise
- Buyer’s markets – Sun City West, Sun City, Arizona City, Queen Creek, Maricopa, Buckeye, Casa Grande
INVENTORY IS RISING
Inventory of homes for sale is still 26% below normal for this time of year. It usually peaks in February or March, but this year it’s still increasing. We are, however, starting to see it soften. The market is performing similar to 2015 with sellers having to compete on their home’s condition, price, and seller concessions. This has been quite a wake-up call for unrealistic sellers, resulting in increased price enhancements (reductions) and listing cancellations. Seller concessions are higher in areas close to new construction and among lower priced homes where buyers need concessions to buy down their interest rate.
SUMMER MAY BE THE TIME TO BUY
Buyer demand is 22% below normal for this time of year. Mortgage rates have not declined as expected earlier this year, but summer may still be an excellent time to buy because sellers with homes on the market now are generally motivated. You can always refinance when interest rates fall. In the meantime, we can negotiate seller concessions for you to buy down your interest rate. Also, some lenders are offering no-cost refinancing with them up to three years after your closing date.
There’s a saying in real estate, “marry the house, date the rate.” Interest rates are temporary since you can refinance, but your purchase price doesn’t change. Home prices are expected to continue to rise in the Phoenix market. When you find the right home for your family that you can afford, buy it!
QUESTIONS OR MORE INFO?
As mentioned at the start of this post, the majority of the market slightly favors sellers, part slightly favors buyers and part is balanced. If you have questions about this metro Phoenix housing market update or would like more information on a specific part of the valley, reach out to me at 312-608-9041 or paula.rosentreter@azmoves.com
Source: The Cromford® Report
Phoenix Housing Market Update
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Source: The Cromford® Report
Local Companies with Delicious Products
I enjoy supporting local businesses, especially local companies with delicious products! Whether for your own enjoyment or to use as gifts, I hope you find something new to try.
ARIZONA FARMS CHEESE
Made in Tempe, you can buy Arizona Farms Cheese products at local Costco stores, along with several farmer’s markets including the Uptown Farmer’s Market and Scottsdale Old Town Farmer’s Market. A few items are also available on their website for pick-up at their Tempe location.
https://www.arizonacheese.com/
AUDREY’S CHIA COOKIES
Audrey’s Chia Cookies are a better-for-you treat made with natural ingredients and packed with chia seeds. Find them at AJ’s, Fry’s, or you can purchase them online. Lemon and Almond are their top selling flavors, but they also have chocolate chip and for a little while longer…crispy brownie. They’re made in Chandler, Arizona.
#audreyschiacookies #chiacookies #audreyschia #chandleraz #madeinchandler #azhomespaula
CERRETA CANDY COMPANY
This family candy business is located in Glendale and was started over fifty years ago by Jim Cerreta, Sr. Today, four generations run the business. They make a variety of chocolate, other candy and nuts that can be purchased at their Glendale location or online. They also offer 30-minute tours weekdays.
FAIRYTALE BROWNIES
The owners of Fairytale Brownies met in kindergarten and opened their business in 1992 with a family recipe. Their bakery is located in Phoenix (open M-F 9-3) and while they no longer offer factory tours, there are large viewing windows where you can see the bakers hard at work. Most of their business is online and shipped, which makes it a fun gift, but you can also find them at select AJ’s and the Tempe Farmer’s Market.
HAYDEN FLOUR MILLS
This family-owned business is located on Sossaman Farms in Queen Creek, milled on the same farm where the grains are grown. I guess flour itself isn’t delicous but it does help us make tasty treats. Anyway, they have a store in Gilbert or you can buy their products online. As an aside, the historic Hayden Flour Mill in Tempe is a historic site owned by the City of Tempe and used as an event space.
HONEY HIVE FARM
Based in Peoria, this family owned hive-to-table honey comes in several flavors, including orange blossom, local cactus, and mesquite. Shop online with free local shipping. They also offer beekeeping classes.
KETTLE HEROES POPCORN
Started in 2013 by two brothers, this company is based in Tempe. The popcorn is delicious with flavors inspired by the southwest, including Prickly Pear and Hatch Green Chile Cheddar. A portion of the proceeds are donated to the Pat Tillman Foundation and other local organizations. Find their products in Fry’s, AJ’s and other local stores, on their website, or visit them in Tempe for a fresh batch!
NOBLE BREAD
This artisan bakery has amazing bread and it’s no wonder because it takes them 36 hours to make a loaf of bread! Find it at AJ’s stores, local farmer’s markets and their wood-fired deli in Phoenix, Noble Eatery.
QUEEN CREEK OLIVE MILL
Based in Queen Creek, they have the most amazing olive oil and related products you can buy there, at their Kierland Commons stores in Scottsdale, or online. Visit their Olive Mill Estate in Queen Creek and and take their Olive Oil 101 tour. See their website for details and other events.
https://www.queencreekolivemill.com/
ZAK’S CHOCOLATE
This Scottsdale chocolatier has an award-winning small-batch craft chocolate store. Their truffles are a true work of art and make a beautiful gift. Find a list of their current flavors and pre-order online for pick-up at their Scottsdale location.
Try one of the above and let me know your thoughts. Please also share other local companies with delicious products you recommend!
Phoenix Residential Housing Market Update
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Source: The Cromford® Report
Southwest Wildlife Conservation Center
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Phoenix Residential Housing Market Update
The Phoenix residential housing market slowed in the second half of last year, but things are looking up for 2024! Metropolitan Phoenix is just barely a seller’s market. That means there are differences across the valley.
- Seller’s markets – Tolleson, Apache Junction, Fountain Hills, Chandler, Gilbert, Laveen, El Mirage, Anthem, Glendale, Sun Lakes, Phoenix, Scottsdale, Mesa, Avondale
- Balanced markets – Tempe, Litchfield Park, Sun City West, Peoria, Goodyear, Surprise, Paradise Valley, Cave Creek
- Buyer’s markets – Gold Canyon, Casa Grande, Queen Creek, Sun City, Buckeye, Maricopa
THINKING ABOUT SELLING?
Low Inventory, peak visitors and the Spring market are on your side.
Inventory of homes for sale is 38% below normal for this time of year but new listings are on the rise as we head into the Spring selling season and peak of tourism. Homeowners with extremely low interest rates on their current mortgage are generally staying put, but those with life changes affecting their housing situation are selling and capitalizing on tremendous equity that grew substantially in recent years.
THINKING ABOUT BUYING?
Don’t wait, now is a great time to buy.
Mortgage rates recently adjusted to more reasonable levels and they are expected to decline further this year. Rather than wait for that to happen when more buyers will be competing for homes (pushing prices higher), we can negotiate seller concessions now to buydown your rate until it makes sense to refinance. Also, a number of lenders are offering no cost refinancing up to three years after your closing date.
Buyers often ask if they should hold off buying a home because they’re hoping prices will decline. While I don’t have a crystal ball, experts say that’s NOT likely. A couple things to keep in mind:
- We’re still an inbound migration market with low inventory of homes to sell. Neither of those factors are expected to change anytime soon.
- Whether you believe we’re in a recession now or headed for one, home values have declined in just one of eight recessions in the last fifty years.
QUESTIONS OR MORE INFO?
As mentioned at the start of this blog, the Phoenix residential housing market definitely has differences across the valley. If you have questions or would like more information on a specific part of the valley, please don’t hesitate to reach out to me at 312-608-9041 or paula.rosentreter@azmoves.com
Source: The Cromford® Report
New to the Valley Hot Spots
As Phoenicians, we’re lucky to live in a growing metropolitan area with many new to the valley hot spots. Here are a few of my favorites and I hope you’ll discover one or two you’d like to try.
DRAFTKINGS SPORTSBOOK
Adjacent to TPC Scottsdale, DraftKings Sportsbook is a fun place to watch sporting events with lots of TV’s/video screens, a beautiful outdoor patio, VIP cabanas, and fire pits. See their website for more information about upcoming ticketed events for the Superbowl and WM Phoenix Open.
https://draftkingssportsbook.tpc.com/scottsdale
TREVOR’S
If you haven’t experienced Trevor’s yet and you appreciate a cocktail from time to time, you’re missing out. It’s like an amusement park for adults. At it’s core, it’s a liquor store with a great selection, but they also have a cigar lounge, indoor bar with a limited menu featuring wood-fired pizza, pet-friendly patio, simulated golf at the Mayo Trevor’s. They also have locations in Scottsdale and Arcadia, plus one coming soon as part of the PV mall redevelopment.
SCHEELS
Scheels opened it’s first store in Arizona last year in Chandler. It’s a sporting goods store…and a whole lot more, including a ferris wheel, 16,000-gallon saltwater aquarium, a wildlife mountain, arcade games, sports simulators, restaurant and candy shop. Talk about FUN!
https://www.scheels.com/store?StoreID=026
POPSTROKE
Tiger Woods is one of the owners of Popstroke, an outdoor mini golf experience where you’ll find 18-hole putting courses, foosball, cornhole, a playground, and ping pong. You purchase an all-day pass and they have lower rates Mon.-Thurs. They have local craft beer, wine, ice cream, and food to enjoy on or off the course. Current locations in the valley are Glendale and Scottsdale.
PUTTSHACK
If you haven’t been to Puttshack at the Scottsdale Quarter, reserve your tee time today for super fancy, tech-infused indoor mini golf! Of course, they have plenty of food and beverages as well.
https://www.puttshack.com/locations/scottsdale
BACKYARD
Coming to the Valley from the Dallas area, Backyard is a pet friendly bar and grill that will be opening in Desert Ridge where Sandbar used to be. It’s expected to open in the first quarter of 2024 and will be a great place to check out. with your furry friend.
https://backyardusa.com/phoenix/
MATTEL ADVENTURE PARK
Scheduled to open in Glendale near State Farm Stadium sometime in 2024, here’s what you can expect at Mattel Adventure Theme Park:
- 2 Hot Wheels roller coasters
- Hot Wheels go karts
- Barbie Beach House with a Dream Closet Experience and rooftop bar
- 7 Thomas & Friends rides and attractions plus an indoor play space
- Masters of the Universe laser tag arena
- Mattel toys and games mini golf course
- Uno climbing structure
- Lots of good food
Nov. Housing Market Update
Most of metropolitan Phoenix continues to be a seller’s market, though it has softened. On the outskirts, Buckeye, Goodyear, Queen Creek, Maricopa and Casa Grande are now buyer’s markets while Litchfield Park is balanced.
Inventory Still Low, But Increasing
Inventory of homes for sale continues to rise across the valley, up 22% in the last ten weeks, and days on the market will likely continue to climb through the end of the year. Supply is currently 41% below normal for this time of year. Homeowners with extremely low interest rates on their current mortgage are generally staying put, but those with life changes affecting their housing situation (growing family, job change, etc.) are selling and capitalizing on tremendous equity that grew substantially in recent years. That said, trends do vary by area and price range so let me know if you’d like more information on your home.
Great Time to Buy for Some
Cash buyers have leverage with inventory rising and sellers motivated to close by year-end. Buyer demand continues to be heavily impacted by mortgage rates with people either priced out of the market for what they want or people who can afford to buy but are waiting for rates to come down. Demand is currently 29% below normal for this time of year. Those waiting for rates to come down should consider the following:
- You may end up paying more for your home because prices will likely be higher and you’ll have more competition for homes when interest rates fall.
- You have leverage with sellers now, who are expecting to provide seller concessions to be used for interest rate buydowns.
- Lenders are offering incentives like no-cost refinancing, knowing that people buying now will refinance when rates go down.
- The end of the year is a great time to purchase a home because sellers are typically motivated and there’s less competition.
Rental Inventory Rising, Rates Stabilized
The supply of long-term rental properties (excluding vacation rentals) continues to rise due to build-to-rent properties hitting the market, short-term rentals becoming long-term rentals, and people with low interest rates trying to hold onto properties when they do need to move by renting them out. Of course, this growing inventory leads to a reduction in rental rates.
Questions or More Info?
If you have questions or would like more information on a specific part of the valley, please don’t hesitate to reach out to me at 312-608-9041 or paula.rosentreter@azmoves.com
Source: The Cromford® Report
Oct. Housing Market Update
Headlines in the residential real estate market across metropolitan Phoenix are similar to last month. It is currently a seller’s market across the valley except for five areas on the outskirts, which have moved to balanced markets: Buckeye, Goodyear, Maricopa, Queen Creek, and Casa Grande.
Inventory Rose Slightly
Inventory of homes for sale rose slightly in September, mostly due to declining demand rather than more homes being listed for sale. Homes are on the market slightly longer, but supply is still 47% below normal for this time of year.
Now May be the Right Time to Buy
Mortgage rates continue to sideline some buyers with demand 25% below normal for this time of year. However, buyers have less competition for homes right now so it may very well be the right time to buy. Keep in mind that interest rates are likely building pent-up demand that may eventually bring us back to a time where multiple offers and sales above asking price are the norm. In addition to negotiating for the seller to buy down a buyer’s interest rate for the first 2-3 year of a loan, lenders may also contribute toward that (in addition to no-cost refinancing) to earn the business.
Rental Inventory Continues to Rise
The supply of long-term rental properties (excluding vacation rentals) continues to rise, which has led to a stabilization of rental rates. This increased inventory is coming from both build-to-rent properties hitting the market and previous short-term rentals since our market is oversaturated in that area. Eventually, we expect a portion of these investment properties to move to the resale market.
Questions or More Info?
If you have questions or would like more information on a specific part of the valley, please don’t hesitate to reach out to me at 312-608-9041 or paula.rosentreter@azmoves.com
Source: The Cromford® Report
