Life in the Valley • Local Resources • October 14, 2024

Propositions Supporting Growth Across Metropolitan Phoenix

by Paula Rosentreter

As a real estate agent, I do not talk about politics with my clients. I appreciate differing opinions and everyone’s right to vote as they see fit. That said, I do believe in sharing information about propositions supporting growth across metropolitan Phoenix. I appreciate you reading my thoughts below on three key propositions and learning more through the links provided.

Maricopa County Transit Tax

Maricopa County residents, please vote YES on PROPOSITION 479 to continue an existing half-cent sales tax that funds transportation. A yes vote extends the tax until 2045 and if it does not pass, the tax ends in 2025.

Again, this is NOT a new tax and transportation funding is critically important our quality of life, especially with ongoing population and job growth across the valley. Learn more about this important proposition here.

Scottsdale Park & Preserve Maintenance

I am asking Scottsdale residents to vote YES on PROPOSITION 490 to improve the city ‘s aging parks and maintain our treasured McDowell Sonoran Preserve. In addition to park and preserve maintenance, the funds add police ranger patrol to parks and preserve trailheads and add fire department resources, including a second rescue team and increased fire prevention and fire fighting funds. This is done with a new sales tax that REPLACES an expiring sales tax at a LOWER rate. Learn more here.

Scottsdale Spending Limit

Lastly, I encourage Scottsdale residents to consider voting YES on PROPOSITION 491 to increase Scottsdale’s state-imposed spending limitation. All Arizona cities have limitations that cap the maximum amount it can spend each year to provide services and programs. Most Arizona cities (if fact, 82 out of 91) have passed something similar already.

Please note that this change is NOT an increase in taxes. It simply allows the city to operate within a spending limitation that more closely matches existing revenue sources to meet current and planned services and programs. Costs continue to increase so if we have the revenue, why not allow for spending within that amount to support the city’s needs?

Without this adjustment, the city will have to make difficult decisions about which services and programs to continue funding. Learn more here.

Regardless of whether you vote YES on these three propositions supporting growth across metropolitan Phoenix, I do hope you exercise your right to vote on election day!

Housing Market Updates • August 10, 2024

Industrywide Real Estate Changes

by Paula Rosentreter

The National Association of Realtors settled a nationwide class action lawsuit with residential sellers. As a result, industrywide real estate changes are being implemented this month. The deadline for implementation is Aug. 17, 2024 but the new rules actually went into effect Aug. 1 in Arizona. The impact to buyers and sellers is summarized below.

HOMEBUYERS

You’ll now sign a written agreement with your agent prior to touring homes.
The buyer-broker employment agreement includes a specific amount or rate of compensation your agent receives when you purchase and close on your home. This is negotiable.
The seller may offer to pay all or part of the compensation to your agent. This is still allowed, but no longer appears in the MLS.
Regardless of whether the seller offers up front to cover all, part, or none of your agent’s commission, your offer to purchase the home can be made contingent on the seller doing so.
Open houses continue and no agreement needs to be signed to tour the home.
For complete details, click here.

HOME SELLERS

You still have the option to offer compensation to your buyer’s broker. In fact, I encourage this as part of the overall property marketing plan making your listing more attractive to potential buyers.
If you choose to offer compensation to the buyer’s broker, there are changes to how this occurs. This offer no longer appears in the MLS but with your permission, I can promote it on other platforms such as social media, flyers, a sign at the property, and other websites.
Regardless of your compensation offer, the buyer may ask for you to pay a specific amount as a term within their offer. In other words, their offer may be made contingent on you doing this. As with any contract term, it is negotiable and of course what’s important is the NET amount you’ll receive.
For complete details, click here.

If you have questions about these industrywide real estate changes, please don’t hesitate to reach out. I’m here to help guide you throughout the process to a successful closing!

Life in the Valley • Local Resources • June 17, 2024

Frozen Cocktails Across the Valley

by Paula Rosentreter

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.

https://solcocina.com/

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!

https://solcocina.com/

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.

https://www.tommybahama.com

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.

https://jalapenoinferno.com/

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.

https://arizonafroze.com/

If you also enjoy frozen cocktails across the valley and have others you’d recommend, please share by commenting below!

Housing Market Updates • June 15, 2024

Metro Phoenix Housing Market Update

by Paula Rosentreter

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

Housing Market Updates • May 12, 2024

Phoenix Housing Market Update

by Paula Rosentreter

The Phoenix housing market update is again a mixed bag. Residential housing sales leveled off early this Spring. We typically see contracts increase from January through April, even into May, but that didn’t happen this year. The market leveled off in February and has remained flat since then. That said, pricing continues to rise.

Our metropolitan market as a whole is currently at the high end of a balanced market, but there are differences across the valley.

Seller’s markets – Chandler, Tolleson, Apache Junction, Gilbert, El Mirage, Glendale, Sun Lakes, Avondale, Mesa, Fountain Hills, Phoenix, Anthem, Tempe, Scottsdale, Peoria, Litchfield Park, Paradise Valley
Balanced markets – Laveen, Surprise
Buyer’s markets – Goodyear, Gold Canyon, Cave Creek, Sun City, Sun City West, Queen Creek, Maricopa, Casa Grande, Buckeye, Arizona City

LOW INVENTORY CONTINUES

Inventory of homes for sale is 31% below normal for this time of year. Homeowners with extremely low interest rates on their current mortgage are generally staying put. However, those with life changes affecting their housing situation (growing family, job change, etc.) are selling and capitalizing on the tremendous equity growth in recent years.

DON’T WAIT, BUY NOW

Buyer demand is 20% below normal for this time of year. Mortgage rates remain relatively high but are expected to fall later this year. When that happens, buyers will re-enter the market and there will be more competition for homes (pushing prices higher). You can wait for that to happen or you can buy now with less competition and refinance your rate later.

I can also help you negotiate seller concessions to buydown your rate for up to three years until it makes sense to refinance. The buydown funds are yours, even if you refinance prior to using them up (in that case, you would get a refund from your lender). Many lenders also offer no lender or appraisal fees when you refinance with them up to three years after your closing date.

There’s a reason they say “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, not fall. What are you waiting for?

QUESTIONS OR MORE INFO?

As mentioned at the start of this blog, part of the market favor sellers, part favors buyers and part is balanced. If you have questions about this Phoenix housing market update 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

Life in the Valley • Local Resources • May 12, 2024

Local Companies with Delicious Products

by Paula Rosentreter

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

https://www.audreyschia.com/

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.

https://cerreta.com/

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.

https://www.brownies.com/

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.

https://haydenflourmills.com/

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.

https://honeyhivefarms.com/

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!

https://kettleheroes.com/

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.

https://noblebread.com/

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.

https://zakschocolate.com/

Try one of the above and let me know your thoughts. Please also share other local companies with delicious products you recommend!

Housing Market Updates • March 17, 2024

Phoenix Residential Housing Market Update

by Paula Rosentreter

The Phoenix residential housing market is experiencing a relatively soft Spring season. The market as a whole is just barely a seller’s market, which means there are differences across the valley.

Seller’s markets – Tolleson, El Mirage, Chandler, Apache Junction, Gilbert, Glendale, Anthem, Fountain Hills, Mesa, Phoenix, Sun Lakes, Tempe, Laveen, Avondale, Scottsdale, Peoria
Balanced markets – Litchfield Park, Cave Creek, Arizona City, Paradise Valley, Surprise, Queen Creek, Sun City
Buyer’s markets – Sun City West, Gold Canyon, Good Year, Maricopa, Buckeye, Casa Grande

LOW INVENTORY CONTINUES

BEAT THE BUYING FRENZY

Buyer demand is 20% below normal for this time of year. Mortgage rates remain relatively high but are expected to fall later this year to spur the economy leading up to the Presidential election.

When interest rates fall, buyers who have been on the sidelines are expected to re-enter the market. There will be more competition for homes, pushing prices higher. You can wait for that to happen or you can get ahead of this and buy now. With current market conditions, we’re typically able to negotiate seller concessions to buydown your rate until it makes sense to refinance. Additionally, many lenders are offering no lender or appraisal fees when you refinance with them up to three years after your closing date.

There’s a reason they say “marry the house, date the rate.” Interest rates are temporary since you can refinance, but your house is a long-term investment. When you find the right house for your family, buy it. Home prices are expected to continue to rise in the Phoenix market, not fall. Period.

QUESTIONS OR MORE INFO?

As mentioned at the start of this blog, part of the market favor sellers, part favors buyers and part is balanced. If you have questions about the Phoenix residential housing market 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

Life in the Valley • March 17, 2024

Southwest Wildlife Conservation Center

by Paula Rosentreter

Have you heard about the Southwest Wildlife Conservation Center (SWCC)? This local non-profilt organization rescues native wild animals that have lost their homes to development, or are found injured, orphaned, or abandoned. When possible, they rehabilitate and release them back to the wild…where they belong.

INSPIRING STORIES

Their mission is to “save our wildlife, one life at a time” and that’s exactly what they do. Recently, they got a call that two javelinas fell into an abandoned root cellar and couldn’t get out. They sprung into action, created a pulley system to pull them out one at a time. Read more about the rescue here.

Sign-up for their newsletter to receive updates on their good work.

LIVING WITH WILDLIFE

If you’re new to the area, learn how to peacefully co-exist with native wildlife. There are resources for you to learn about the animals and help you prepare for encounters with javelina, bobcats, coyotes and other wild animals.

TOURS

If you’ve not been to the Southwest Sanctuary in Scottsdale (27026 N. 156^th Street), I encourage you take a tour. There are multiple options but you do need to sign-up in advance on their website. I did the “walk with the wildlife” 2-hour guided tour, where we got to see the permanent sanctuary residents that could not be released back into the wild. The tour guides were very knowledgeable and told interesting stories about the animals, including black bears, bobcats, javelina, mountain lions, deer, tortoises and more.

HOW YOU CAN HELP

There are numerous ways to support the Southwest Wildlife Conservation Center – attend a tour, donate money or items on their wish list, sponsor an animal, volunteer and more. There’s even a “virtual baby shower” fundraising even going on now.

Housing Market Updates • Uncategorized • January 18, 2024

Phoenix Residential Housing Market Update

by Paula Rosentreter

Phoenix Housing Market Update - Jan. 2024

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

Life in the Valley • January 18, 2024

New to the Valley Hot Spots

by Paula Rosentreter

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. ⁠

https://www.trevors.com/

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.

https://popstroke.com/

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

https://www.matteladventurepark.com/