ORAN
Kelly McLain Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
Inventory Tightens Up Around The Orange Tree Area Current Mortgage Rates A rising interest rate environment represents a double-edged sword for the real estate industry. While it becomes more costly for investors to finance acquisitions and development and can ding property values, it is also a sign of a growing economy, which Mike Tompkins typically translates into more demand Sales Manager Mortgage Loan for space and higher rental rates. Originator However, a flattening yield curve and the potential for a recessionsignaling yield curve inversion – short-term interest rates exceeding long-term rates – is the biggest concern in the coming months
NMLS # 217645 602.329.6591 Direct tompkins@ksstatebank.com| www.ksstatebank.com
It certainly remains a seller’s market around Orange Tree, listings continue to be few and far between and this month only 29 homes are on the market which sets a new record low inventory in our area. Many times low inventory does equate to seasonal times, as summer winds down we start to see an increase in listings as we approach the cooler fall season. I’m seeing continued housing strength this fall and into 2019. Interest rates and a tight inventory can go hand in hand. As mortgage rates hover just below 5% mark, ending an era of the lowest averages in modern US history, some buyers are feeling the strain in their pocketbooks. The hikes also may convince would be sellers to stay put and hold onto their current rates rather than move up to a higher priced home with a costlier rate, which seems to be happening around the Orange Tree area, which further exacerbates tight inventory. I have 3 cooperate relocation’s moving into our area, one couple from Seattle, one family from Minneapolis and another family from Toronto. We will be searching for homes in the $700,000 to $900,000 range and the other two clients looking in the $1,300,000 to $1,650,000 range. If you’re thinking of selling call me and allow me to show you all the properties I’ve SOLD this year, my average selling time is much shorter than the other agents in our area, and my sales price remains much higher on average compared to other real estate firms in our area. Call or text me at 602.625-4653
OrangeTree
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We look forward to handling your next Escrow!
SQFT
BED BATH LIST PRICE
LIST PER SQFT
11001 N 60th St 6216 E Gold Dust Ave 6021 E Cortez Dr 6242 E Laurel Ln 6216 E Via Estrella Ave 5610 E Mountain View Rd 6229 E Gold Dust Ave 9827 N 57th St 5710 E Gold Dust Ave 11846 N 61st Pl 10242 N 57th St 6227 E Cortez Dr 6115 E Shangri LA Rd 11810 N Blackheath Rd 6325 E Desert Cove Ave 5330 E Shangri LA Rd 11447 N 54th St 5430 E Sahuaro Dr 5509 E Alan Ln 5739 E Cactus Rd 10242 N 58th St 5937 E Larkspur Dr 11030 N 54th St 12219 N 59th St 5344 E Paradise Dr 5440 E Dahlia Dr 6202 E Charter Oak Rd 5619 E Century Ln 11447 N 56th St
7,200 5,586 5,231 6,004 5,210 6,050 4,900 5,634 3,678 6,152 4,509 5,297 4,104 3,664 4,409 3,962 4,371 2,858 4,169 3,198 2,239 3,165 2,350 2,850 2,896 2,916 2,540 1,347 2,000
6 5 3 6 5 6 4 5 4 5 4 5 5 4 5 4 4 4 4 5 3 5 3 3 4 4 4 2 2
$395.83 $411.74 $439.69 $374.75 $428.00 $330.58 $406.10 $335.27 $462.21 $273.89 $354.18 $269.02 $340.89 $379.37 $305.97 $302.88 $212.77 $323.65 $215.88 $243.75 $346.14 $236.97 $308.51 $245.61 $237.91 $229.77 $242.13 $270.97 $167.50
Currently For Sale in Orange Tree Area 6.5 5.5 4 5 5.5 4 4.5 5.5 4 6 3.5 4 4.5 3 7 3 4 2.5 3.5 3 3.5 2.5 2.5 2.5 3 3.5 2 2 2.5
$2,850,000 $2,300,000 $2,300,000 $2,250,000 $2,229,900 $2,000,000 $1,989,900 $1,888,888 $1,700,000 $1,685,000 $1,597,000 $1,425,000 $1,399,000 $1,390,000 $1,349,000 $1,199,999 $930,000 $925,000 $900,000 $779,500 $775,000 $750,000 $725,000 $700,000 $689,000 $670,000 $615,000 $365,000 $335,000
Contentment Clues
NEIGHBORHOOD
Century Circle Estates Sunburst Farms Equestrian Manor Equestrian Manor Sunburst Farms Country Club Acres Sunburst Farms Country Club Acres Country Club Acres Equestrian Manor Country Club Acres Equestrian Manor Orangetree Manor Century Club Estates Bar Ted Acres Desert Homes Orangetree Estates Orangetree Estates Promontory Century Club Estates Country Club Avant Desert Homes Avant Woodleaf Rancho Saguaro Shea North Estates Century Place Century Place
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Call Phil for the most effective marketing strategies to sell Biltmore property All information deemed reliable not guaranteed. on on thisthis listyour have been listed/sold by variousbymembers the MLS. of. the MLS. All information is deemedisreliable but notbutguaranteed. TheProperties properties list have been listed/sold variousofmembers If your home is currently listed, this is not a solicitation for that listing.
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— Kelly McLain ADDRESS
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SEPTEMBER | OCTOBER 2018
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
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