Kelly McLain & Mike Tompkins | Orange Tree Insider

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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

2020 is almost here!

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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 tompkins@ksstatebank.com| www.ksstatebank.com NMLS # 217645

7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER

Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117

appy Holidays to all my Orange Tree readers, 2020 is just around the corner and I will be starting my 32nd year in real estate. When I started real estate in the late 80’s homes started breaking $150 per square for the first time in and around Orange Tree, fast forward to the mid90’s and we broke $200 per square foot. We witnessed prices spike up over $300 per square foot leading up to the financial crisis, only to fall back to $200 per foot on average. It took another 7 years to cross back over $300 per square foot, and now we are seeing $400+ per square foot on many homes in our area. If you’re thinking of selling, this may be the best selling opportunity we’ve seen in many years. Let’s discuss your options and see what the value of your home is. 2019 should go down as one of the best years in appreciation of properties around Orange Tree, we were forecast to see 4% to 6% increases in 2019, instead we will end up around 7% to 9% in appreciation for 2019, the last time we saw that type of yearly appreciation was 15 years ago. Remember, the most important driver of home prices is supply and demand. Today, the supply is tight with record numbers of house hunters and relocation’s to the valley, it all but guarantees the housing boom will continue and even accelerate. If you’re thinking of buying or selling call me or text me at 602-625-4653, my listings are selling fast and I look forward to 2020 it’s going to be another great year to sell homes.

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ADDRESS

SQFT

BED BATH SOLD PRICE

PRICE PER SQFT

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

4

3.5

$1,699,900

$383.90

Equestrian Manor

6201 E Sweetwater Ave

4,204

4

6

$1,535,000

$365.13

Shea North Estates

10242 N 57th St

4,509

4

3.5

$1,499,000

$332.45

Country Club Acres

11453 N 53rd Pl

4,741

4

6

$1,440,000

$303.73

Las Haciendas

5802 E Shea Blvd

4,629

5

4

$1,276,000

$275.65

Century Club Estates

12004 N 63rd Pl

4,790

4

4.5

$1,250,000

$260.96

Arabian Green

6041 E Paradise Dr

3,782

4

3

$1,195,000

$315.97

Equestrian Manor

6116 E Shangri LA Rd

5,213

5

4.5

$1,179,000

$226.17

Orangetree Manor

6040 E Cholla St

3,802

4

4.5

$995,000

$261.70

Equestrian Manor

6336 E Cochise Rd

3,808

5

3

$964,000

$253.15

Sunburst Farms

6337 E Desert Cove Ave

4,654

6

4

$850,000

$182.64

Bar Ted Acres

5319 E Cholla St

3,292

4

3

$849,900

$258.17

Desert Homes

6010 E Cholla St

2,868

4

3

$849,000

$296.03

Equestrian Manor

11426 N 54th Pl

3,531

4

3

$845,000

$239.31

Orangetree Estates

5838 E Larkspur Dr

2,492

4

3

$724,999

$290.93

Avant

5739 E Cactus Rd

3,198

5

3

$704,900

$220.42

Century Club Estates

6025 E Corrine Dr

2,838

3

2

$699,999

$246.65

Avant

5702 E Carter Oak Rd

3,109

4

3

$685,000

$220.33

Century North

5824 E Turquoise Ave #E

2,052

11447 N 56th St

2,000

NEIGHBORHOOD

Latest Sales and Closings around Orange Tree

Sunburst Farms

Call most effective 779 Phil 1 for 1 the $185,000 $237.48 Bellamarketing Terra Condominiums 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. 5335 E Shea Blvd #1028

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

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NOVEMBER | DECEMBER 2019

Kelly McLain

2 2 $595,000 Country Estates WANT YOUR $289.96 PROPERTY 2 2.5 $515,000 $257.50 Century Place BE OUR NEXT COVER HOME? 5335 E Shea Blvd #1049 TO779 1 1 $189,900 $243.77 Bella Terra Condominiums

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

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