AZ Real Estate 07-27-14

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AZ Real Estate

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CATHERINE REAGOR REAL ESTATE

Buyers may find more home for the money

B

month-to-

uyers shopping for a new house in metro Phoenix might find prices a little lower than a few months ago. The median price for a new home in the Valley fell to about $292,000 in June from almost $305,000 in May, according to information from RL Brown Reports. Sales of new and existing homes have been lower than expected during the past few months as fewer buyers pull the trigger. But the median resale home price has hovered around $205,000 for the past few months. Some builders, but not all, in the Phoenix area are lowering home prices to draw more buyers. At the same time, some new homebuyers are opting for less pricey houses and add on amenities. Housing analysts Brown and Greg Burger don’t expect new home prices to climb significantly until demand and sales of new homes jumps. Meritage Homes sold 95 houses across the Valley in June, making it the region’s top builder. Taylor Morrison was second with 79 home sales, and Beazer Homes was third with 62. Beazer’s Morningstar Farms community in the southeast Valley’s San Tan Valley was the most popular community with buyers in June. Last month, the homebuilder said 19 new homes sold in the development.

month.”

Rent increases slowing

Showhomes franchisee Janelle Joyce provides live-in caretakers for luxury homes for sale that otherwise would be vacant. The caretakers bring their own furniture and pay a fraction of the standard rent. MARK HENLE/THE REPUBLIC

OCCUPY MOVEMENT

Live-in luxury-home caretakers help sell, then move on Sue Doerfler The Republic

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azcentral.com

Kelli Reed is a modern-day nomad. She lives in a for-sale six-bedroom, 5,000-square-foot luxury lakefront home that is decorated with her own furniture, paying a fraction of the typical rent. When the home gets a buyer, she’ll move into another for-sale upscale home, taking her belongings with her. She could be in each home as little as a month or a couple of months or longer. “I never know where I’m going to be month-to-month,” she said. Reed is a live-in luxury-home caretaker. Luxury homes that are vacant can be hard to sell. Plus, they are at greater risk for break-ins. Occupied and staged homes, however, show and sell better. To make vacant high-end homes more

marketable, two Valley companies, Showhomes and HomeTenders of America, provide live-in caretaking services, complete with furniture and accessories. There are benefits for everyone involved, representatives say. Sellers get their homes professionally staged without having to pay for it or the furniture rental. Not having to rent furniture can mean a savings of $6,000, likely more, a month, said Janelle Joyce, who owns one of the two Valley franchises of Showhomes. Reed owns the other. Sellers also don’t have to pay monthly utility bills or for upkeep on the home. They also don’t pay for the live-in caretaking services, although there may be a small fee at time of escrow. Management companies make their money from the fees the live-in managers pay. At any given time, they have up to 30 See OCCUPIED, Page R3

“I never know where I’m going to be

KELLI REED LIVE-IN CARETAKER

Renters signing deals for Phoenix-area apartment probably won’t see a drop in rents, but the monthly increases in rents are slowing. The average rent for an apartment in the region was $820 in June, compared with $817 in May of this year and $783 in June 2013, according to the Dallas-based apartment research firm Axiometrics. See REAGOR, Page R3

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