The #1 Agent &
ORAN
FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!
Kelly McLain Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
Current Mortgage Rates Mortgage rates logged their lowest monthly average in over three years last month, and it seems it wasn’t just a blip on the radar. According to three industry forecasts, the trend toward low mortgage rates, slowing home price growth and increased housing construction will continue well into 2020. Just yesterday, Freddie Mac reported an average 3.65% rate on 30-year, fixed-rate loans—a whopping 1.06% downslide since just one year ago. Looking at forecasts from the Mike Tompkins company, as well as from economists at Fannie Sales Manager Mae and the Mortgage Bankers Association, Mortgage Loan it appears low mortgage rates will persist. Originator Economists at Freddie Mac predict the fourth quarter of 2019 will average a 3.7% interest rate on 30-year, fixed-rate loans, with 2019 claiming a 4% average overall. Fannie Mae expects the year to average out at 3.9%, while the Mortgage Bankers Association predicts 3.8%. Looking further ahead, the three organizations expect even more favorable conditions for 2020, predicting average rates as low as 3.4%
602.329.6591 Direct NMLS # 217645 tompkins@ksstatebank.com| www.ksstatebank.com
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117
Curbio’s agreement with Berkshire Hathaway means you pay nothing for your remodel till closing. Your home will be worth more, and you will pocket more.
LOOKING TO MAXIMIZE THE POTENTIAL VALUE OF YOUR HOME?
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2020 Outlook: Prices will keep on rising. Home prices will continue their climb upward, largely thanks to tight inventory and high demand. According to the INT RODUCES latest home price forecast, home prices should tick up by 5.6% by next Septemberdown from the 8.5% jump we saw this year in the Orange Tree area. (overall the metropolitan Phoenix area averaged 5.8% appreciation for 2019)Right now we We cover the upfront costs of improvements to help aren’t seeing a ton of new listings. Without prepare your home for market. more listings coming on the market, there Berkshire Hathaway is truly taking Real Estate to the next level. It has been empowering sellers, buyers, and agents with technology since the beginning. Curbio will assist you with the execution of a tailored plan will be more competition starting off in for updating and staging your home for prospective buyers. early 2020 and that will lead to more price They will cover the upfront costs associated with home-selling improvements and collect a fee for the services rendered at the time of the property’s closing. House preparation services include kitchen and pressure. The problem will be worse on the bath remodeling, staging, painting, landscaping, decluttering, and so much more. lower end of the price spectrum. Entrylevel home prices will rise higher than incomes next year-and disappointing construction numbers will only compound the issue. Low-interest rates and a shortage of starter homes will continue to push up prices, this is especially the case for lower price points since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes. It seems the price growth may continue beyond 2020, too. Data shows the chance of home price declines at a mere 11% for the next two years. There are currently no states or metro markets projected to see prices declines in that period. The inventory will be tight. Housing inventory is going to remain limited for much of 2020, and interest rates and record-high homeownership tenures are a big part of the problem. The average homeowner is staying in their home 13 years—up from just eight years in 2010. In some cities, home-ownership tenures are as high as 23 years. The Orange Tree area will remain one of the hottest areas in the valley, with Paradise Valley moving towards $400 to $500 dollars per square foot or more, buyers will be looking at our area for the same location, same schools, and large lots in an effort to find a better deal. With hundreds of sales in Orange Tree, Woodleaf, Avant, Century Place, Century North, Orange Tree Manor. Orange Tree Estates, Singletree, and Orange Tree Villas, my listings have all SOLD, so give me a call should you desire to sell, my track record selling homes for top dollar remains #1 around Orange Tree. Happy New Year! SM
Renovate Now, Pay When You Sell
Kelly McLain ADDRESS
SQFT
BED BATH SOLD PRICE
PRICE PER SQFT
NEIGHBORHOOD
6230 E Turquoise Ave
5,170
5
5.5
$3,400,000
$657.64
6303 E Turquoise Ave
6,632
5
5.5
$3,350,000
$505.13
Sunburst Farms
11008 N 60th St
6,823
4
3.5
$3,000,000
$439.69
Century Club Estates
5220 E Cholla St
7,083
5
6.5
$2,495,000
$352.25
Las Haciendas
6146 E Gold Dust Ave
4,507
5
5.5
$2,350,000
$521.41
Tierra Feliz
6346 E Mountain View Dr
7,387
7
7
$2,198,000
$297.55
Sunburst Farms
5437 E Cortez Dr
5,536
6
6
$1,950,000
$352.24
Vista Hermosa
6045 E Cochise Rd
3,800
5
6
$1,799,000
$473.42
Tierra Feliz
12006 N Oakhurst Wy
6,303
7
5.5
$1,725,000
$273.68
Century Club Estates
12036 N 62nd Pl
4,428
Latest Sales and Closings around Orange Tree
Sunburst Farms
WANT YOUR $383.90 PROPERTY 4 3.5 $1,699,900 Equestrian Manor 6201 E Sweetwater Ave 4,204 4 6 $1,535,000 $365.13 Shea North Estates TO4,509 BE OUR NEXT COVER HOME? 10242 N 57th St 4 3.5 $1,499,000 $332.45 Country Club Acres
Call Phil for the most effective marketing strategies to sell Biltmore property All information is deemedisreliable but not guaranteed. TheProperties properties list have been listed/sold variousofmembers All information deemed reliable but not guaranteed. on on thisthis listyour have been listed/sold by variousbymembers the MLS. of. the MLS. If your home is currently listed, this is not a solicitation for that listing.
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