Mimi Sadeghi| GH Village

SEPTEMBER | OCTOBER 2017

MIMI

Maricopa County By The Numbers

Lifestyle GH VILLAGE

SEPTEMBER 2017 7/9/2017-8/9/2017

TOTAL #

CLOSED

65

[

AVG DAYS ON MARKET

Car-Free, Carefree

AVG SOLD PRICE

$319,651

City Dwellers Ditch Their Wheels

98 LIST/SELL PRICE RATIO

Make Room for Fido!

[

7,156

According to a recent Harris Poll, 33% of millennials surveyed bought their first home needing space or a yard for their dog, while only 26% cited marriage as the reason.

Market Update

Metro Phoenix Mid-Year Report Mimi Sadeghi C. 480.217.3305

mimi.sadeghi@russlyon.com www.mimisadeghi.com

Tina Williams Russ Lyon | Sotheby’s International Realty 7669 E Pinnacle Peak Rd Suite 110, 85255

If your home is currently listed, this is not a solicitation for that listing.

C. 480.800.9631

tina.williams@russlyon.com www.tinawilliamsrealtor.com

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

The Vig

Lean and Green Steak Salad

EVENT CALENDAR

Baby,

SEPTEMBER | OCTOBER 2017 Arizona Fall Restaurant Week

Collection of Western Film History Scottsdale’s Museum of the West | Through Sept. 30 ScottsdaleMuseumWest.org | 480.686.9539 This exhibition features 118 rare and historic western film posters and lobby cards selected from Dr. Rennard Strickland’s collection of more than 5,000 items dating from the 1800s to the present. It is one of the world’s largest – and most historically important and inclusive collections of western film graphic arts. There will also be a special celebration on Sept. 24 that’s free with admission. Call for more information.

Hedwig and the Angry Inch Phoenix Theater | Sept. 20 – Oct. 15 PhoenixTheater.com | 602.254.2151 Viciously funny and devastatingly heartbreaking, Hedwig and the Angry Inch is a modern masterpiece! With an electrifying glam-rock score and high-voltage performances, this show is thrillingly progressive and thoroughly entertaining. A co-production with A/C Theatre Company, it contains mature language that may not be suitable for all audiences.

Arizona State Fair 1826 W. McDowell Rd., Phoenix | Oct. 6-29 AZStateFair.com Making memories for Arizona families is what the State Fair is all about. Whether it’s your first date on the Sky Ride, at a Coliseum Concert, indulging in a Funnel Cake or winning a giant stuffed panda, the Arizona State Fair brings community together. This year, be sure to join over a million other neighbors who celebrate Arizona’s Playground!

Lost Lake Festival Steele Indian School Park | Oct. 20-22 LostLakeFestival.com More than 40 musical acts over three days on multiple stages. Signature culinary experiences.

The best in local food, cocktails and breweries.

Interactive games. Local art. Brought to you by the co-creators of Bonnaroo + Outside Lands in partnership with cultural leaders in the Phoenix community, Lost Lake Festival is a new tradition!

PHOENIX MARKET REMAINS ROBUST

You Can Take My Car

T

he Greater Phoenix housing market started 2017 in a healthy state and has only improved since then, with sellers in a strong negotiating position across most geographies and price ranges.

For the overall market across the metro area, as of mid-year, the annual price changes were as follows, compared with the same time frame, 2016: • The annual average price per sq. ft. rose by 6% from $137.54 to $145.89 • The annual average sales price increased 6% from $269,475 to $286,877 • The annual median sales price gained 7% from $217,000 to $231,500 These are all annual averages, but the monthly median sales price had progressed to $245,000 as of June. This is consistent with a market that favors sellers over buyers, but can depend on price range, location, and age of the home.

The price range below $200,000 remains extremely short of supply compared to the number of hopeful buyers. Appreciation is strongest for these entrylevel homes and condition is rarely a constraint. Location can be an issue, but the shortage in the central areas has encouraged more buyers to go looking in outer locations. This has led to much improved markets in areas such as Buckeye, Maricopa, San Tan Valley, Apache Junction and Surprise.

Between $200,000 and $600,000, supply has improved over 2016 and is being replenished by new home builders. New single family home permits in Maricopa and Pinal Counties totaled 8,623 year to date by the end of May. This is an increase of 11% compared to 2016, however it’s still inadequate to meet demand.

Mid-range demand is up strongly thanks to improved credit scores and significant easing of lender underwriting conditions. There are occasional problems for homes that have been neglected or in great need of modernization, but in general the market below $600,000 is buoyant.

The lower end of the luxury market (below $1,500,000) has regained much of the momentum it lost during 2016. Over $1,500,000 the market remains relatively weak, however in recent months there have been signs of improvement compared with 2016, particularly for the segment over $3,000,000 Despite some softness in the luxury sector, the majority of the Greater Phoenix housing market is even healthier than it was 12 months ago and the prospect of steeply rising interest rates has faded. A large wave of baby boomers is reaching retirement age and downsizing their homes, so demand for smaller and more conveniently located homes has grown. The millennial generation is now a more significant pool of potential home buyers than the baby boomer generation and this dominance will increase over the coming decade.

REAL ESTATE

corner

S

eems everywhere you look these days, there’s a car with an Uber or Lyft symbol on the back. Even out in the burbs. Push a button on your phone and – presto – a driver is at your door in no time to take you to your destination. It’s no surprise that millennials don’t seem interested in getting their own wheels.

Turns out, more and more young Americans are instead looking at a return to city life, without the constant need to hop in the car to go somewhere. With app-generated ride options, car sharing capabilities, light trains available in many cities across the country, and even self-driving cars from Google and Tesla on the horizon, could young – and possibly even older – Americans be ready to give up their cars? The numbers suggest yes.

Hard to believe? Consider this: Car ownership has decreased since its height of 1.1 cars per licensed driver in 2001, according to the U.S. State Department. And, by 2008 the average number of miles driven in the United States fell for the first time ever, decreasing 3.6 percent. This trend away from car ownership seems likely to continue. Of course, Americans didn’t always

IN GOOD TASTE

Valley Locations | Sept. 15-24 ArizonaRestaurantWeek.com This statewide affair offers foodies a wealth of dining opportunities and the chance to get outside their own neighborhood and try something new. From sizzling Southwestern and soothing comfort foods to five-star dining and international fare – it’s all on the table during Arizona Restaurant Week this fall. So prepare your taste buds and dig in!

own their own wheels. Before World War II, only 40 percent of Americans were car owners, most living in towns and cities with public transportation modes available. But the creation of affordable housing out in the suburbs helped stir America’s love affair with automobiles. Soon, everyone had at least one car in the driveway. Until just recently, with the advent of the internet, it would have been unthinkable to consider giving up car ownership. But today’s younger millennials don’t seem to want a car of their own, preferring the flexibility of these new ride alternatives Not surprisingly, city centers are taking the lead when it comes to encouraging citizens to go “car free.” Europe is ahead of the U.S., welcoming this car-less trend in hopes of cutting down on greenhouse gas emissions and reducing traffic within urban areas. In 2016, the cities of Hamburg, Oslo, Helsinki, and Madrid announced plans to become in part, private-car-free cities. Paris, Milan, Chengdu, Masdar, Dublin, Brussels, Copenhagen, Bogota, and Hyderabad have similar plans to cut down on traffic by enacting car-free days, improving cycling roadways, and enhancing public transportation opportunities. Could the same hold true for the States? For those embracing this new car-free lifestyle, we can only hope so. Just think of what you could do with all the money that goes to car payments, insurance, gas and car washes!

Lean and Green Steak Salad INGREDIENTS Salad 6 oz 4 oz 2 oz 5-6 1 oz ½ oz 1 oz 2 ea 2 ea

Red Wine Vinaigrette Flat iron steak Mixed greens Arugula Cherry tomatoes (cut in half) Gorgonzola Shaved parmesan Red wine vinaigrette Zucchinni Squash Balsamic glaze Salt and pepper

½ c 1 tsp 1 tsp 1 c 3 c

Honey Garlic (minced) Dijon mustard Red wine vinegar Blend oil Salt and pepper

DIRECTIONS Season and grill flat iron steak to preference and let steak rest. Toss mixed greens, arugula, gorgonzola, cherry tomatoes in mixing bowl with red wine vinaigrette.

For vinaigrette, place the honey, garlic, mustard and red wine vinegar in a blender and blend until evenly mixed. Slowly drizzle the oil in the blender while running on low speed. Salt and pepper to taste. Yields 1 quart. Store at 40° for a shelf life of four days.

TheVig.us | Five AZ Locations

EVENT CALENDAR

Baby,

SEPTEMBER | OCTOBER 2017 Arizona Fall Restaurant Week

Collection of Western Film History Scottsdale’s Museum of the West | Through Sept. 30 ScottsdaleMuseumWest.org | 480.686.9539 This exhibition features 118 rare and historic western film posters and lobby cards selected from Dr. Rennard Strickland’s collection of more than 5,000 items dating from the 1800s to the present. It is one of the world’s largest – and most historically important and inclusive collections of western film graphic arts. There will also be a special celebration on Sept. 24 that’s free with admission. Call for more information.

Hedwig and the Angry Inch Phoenix Theater | Sept. 20 – Oct. 15 PhoenixTheater.com | 602.254.2151 Viciously funny and devastatingly heartbreaking, Hedwig and the Angry Inch is a modern masterpiece! With an electrifying glam-rock score and high-voltage performances, this show is thrillingly progressive and thoroughly entertaining. A co-production with A/C Theatre Company, it contains mature language that may not be suitable for all audiences.

Arizona State Fair 1826 W. McDowell Rd., Phoenix | Oct. 6-29 AZStateFair.com Making memories for Arizona families is what the State Fair is all about. Whether it’s your first date on the Sky Ride, at a Coliseum Concert, indulging in a Funnel Cake or winning a giant stuffed panda, the Arizona State Fair brings community together. This year, be sure to join over a million other neighbors who celebrate Arizona’s Playground!

Lost Lake Festival Steele Indian School Park | Oct. 20-22 LostLakeFestival.com More than 40 musical acts over three days on multiple stages. Signature culinary experiences.

The best in local food, cocktails and breweries.

Interactive games. Local art. Brought to you by the co-creators of Bonnaroo + Outside Lands in partnership with cultural leaders in the Phoenix community, Lost Lake Festival is a new tradition!

PHOENIX MARKET REMAINS ROBUST

You Can Take My Car

T

he Greater Phoenix housing market started 2017 in a healthy state and has only improved since then, with sellers in a strong negotiating position across most geographies and price ranges.

For the overall market across the metro area, as of mid-year, the annual price changes were as follows, compared with the same time frame, 2016: • The annual average price per sq. ft. rose by 6% from $137.54 to $145.89 • The annual average sales price increased 6% from $269,475 to $286,877 • The annual median sales price gained 7% from $217,000 to $231,500 These are all annual averages, but the monthly median sales price had progressed to $245,000 as of June. This is consistent with a market that favors sellers over buyers, but can depend on price range, location, and age of the home.

The price range below $200,000 remains extremely short of supply compared to the number of hopeful buyers. Appreciation is strongest for these entrylevel homes and condition is rarely a constraint. Location can be an issue, but the shortage in the central areas has encouraged more buyers to go looking in outer locations. This has led to much improved markets in areas such as Buckeye, Maricopa, San Tan Valley, Apache Junction and Surprise.

Between $200,000 and $600,000, supply has improved over 2016 and is being replenished by new home builders. New single family home permits in Maricopa and Pinal Counties totaled 8,623 year to date by the end of May. This is an increase of 11% compared to 2016, however it’s still inadequate to meet demand.

Mid-range demand is up strongly thanks to improved credit scores and significant easing of lender underwriting conditions. There are occasional problems for homes that have been neglected or in great need of modernization, but in general the market below $600,000 is buoyant.

The lower end of the luxury market (below $1,500,000) has regained much of the momentum it lost during 2016. Over $1,500,000 the market remains relatively weak, however in recent months there have been signs of improvement compared with 2016, particularly for the segment over $3,000,000 Despite some softness in the luxury sector, the majority of the Greater Phoenix housing market is even healthier than it was 12 months ago and the prospect of steeply rising interest rates has faded. A large wave of baby boomers is reaching retirement age and downsizing their homes, so demand for smaller and more conveniently located homes has grown. The millennial generation is now a more significant pool of potential home buyers than the baby boomer generation and this dominance will increase over the coming decade.

REAL ESTATE

corner

S

eems everywhere you look these days, there’s a car with an Uber or Lyft symbol on the back. Even out in the burbs. Push a button on your phone and – presto – a driver is at your door in no time to take you to your destination. It’s no surprise that millennials don’t seem interested in getting their own wheels.

Turns out, more and more young Americans are instead looking at a return to city life, without the constant need to hop in the car to go somewhere. With app-generated ride options, car sharing capabilities, light trains available in many cities across the country, and even self-driving cars from Google and Tesla on the horizon, could young – and possibly even older – Americans be ready to give up their cars? The numbers suggest yes.

Hard to believe? Consider this: Car ownership has decreased since its height of 1.1 cars per licensed driver in 2001, according to the U.S. State Department. And, by 2008 the average number of miles driven in the United States fell for the first time ever, decreasing 3.6 percent. This trend away from car ownership seems likely to continue. Of course, Americans didn’t always

IN GOOD TASTE

Valley Locations | Sept. 15-24 ArizonaRestaurantWeek.com This statewide affair offers foodies a wealth of dining opportunities and the chance to get outside their own neighborhood and try something new. From sizzling Southwestern and soothing comfort foods to five-star dining and international fare – it’s all on the table during Arizona Restaurant Week this fall. So prepare your taste buds and dig in!

own their own wheels. Before World War II, only 40 percent of Americans were car owners, most living in towns and cities with public transportation modes available. But the creation of affordable housing out in the suburbs helped stir America’s love affair with automobiles. Soon, everyone had at least one car in the driveway. Until just recently, with the advent of the internet, it would have been unthinkable to consider giving up car ownership. But today’s younger millennials don’t seem to want a car of their own, preferring the flexibility of these new ride alternatives Not surprisingly, city centers are taking the lead when it comes to encouraging citizens to go “car free.” Europe is ahead of the U.S., welcoming this car-less trend in hopes of cutting down on greenhouse gas emissions and reducing traffic within urban areas. In 2016, the cities of Hamburg, Oslo, Helsinki, and Madrid announced plans to become in part, private-car-free cities. Paris, Milan, Chengdu, Masdar, Dublin, Brussels, Copenhagen, Bogota, and Hyderabad have similar plans to cut down on traffic by enacting car-free days, improving cycling roadways, and enhancing public transportation opportunities. Could the same hold true for the States? For those embracing this new car-free lifestyle, we can only hope so. Just think of what you could do with all the money that goes to car payments, insurance, gas and car washes!

Lean and Green Steak Salad INGREDIENTS Salad 6 oz 4 oz 2 oz 5-6 1 oz ½ oz 1 oz 2 ea 2 ea

Red Wine Vinaigrette Flat iron steak Mixed greens Arugula Cherry tomatoes (cut in half) Gorgonzola Shaved parmesan Red wine vinaigrette Zucchinni Squash Balsamic glaze Salt and pepper

½ c 1 tsp 1 tsp 1 c 3 c

Honey Garlic (minced) Dijon mustard Red wine vinegar Blend oil Salt and pepper

DIRECTIONS Season and grill flat iron steak to preference and let steak rest. Toss mixed greens, arugula, gorgonzola, cherry tomatoes in mixing bowl with red wine vinaigrette.

For vinaigrette, place the honey, garlic, mustard and red wine vinegar in a blender and blend until evenly mixed. Slowly drizzle the oil in the blender while running on low speed. Salt and pepper to taste. Yields 1 quart. Store at 40° for a shelf life of four days.

TheVig.us | Five AZ Locations

SEPTEMBER | OCTOBER 2017

MIMI

Maricopa County By The Numbers

Lifestyle GH VILLAGE

SEPTEMBER 2017 7/9/2017-8/9/2017

TOTAL #

CLOSED

65

[

AVG DAYS ON MARKET

Car-Free, Carefree

AVG SOLD PRICE

$319,651

City Dwellers Ditch Their Wheels

98 LIST/SELL PRICE RATIO

Make Room for Fido!

[

7,156

According to a recent Harris Poll, 33% of millennials surveyed bought their first home needing space or a yard for their dog, while only 26% cited marriage as the reason.

Market Update

Metro Phoenix Mid-Year Report Mimi Sadeghi C. 480.217.3305

mimi.sadeghi@russlyon.com www.mimisadeghi.com

Tina Williams Russ Lyon | Sotheby’s International Realty 7669 E Pinnacle Peak Rd Suite 110, 85255

If your home is currently listed, this is not a solicitation for that listing.

C. 480.800.9631

tina.williams@russlyon.com www.tinawilliamsrealtor.com

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

The Vig

Lean and Green Steak Salad