Gilbert Sun News Real Estate - 5.16.2021

REAL ESTATE

GILBERT SUN NEWS | MAY 16, 2021

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On fence about buying or selling? Get off it now

BY MINDY JONES NEVAREZ GSN Guest Writer

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ypically our busiest season in real estate, not a day goes by in May that we don’t get a text or email asking us if now is a good time to buy a home.

It’s not surprising that many people are unsure about what the market has to offer them after seeing post after post on social media about the difficulty of finding a home in the Gilbert area, let alone one with a pool, one within walking dis-

Melanie Nemetz

tance to a specific school district, or one with enough bedrooms for the whole family.

With just 86 active single-family homes in all of Gilbert – 39 with a pool and 32 of those with at least four bedrooms - I can understand the fear. But when I look at that those numbers, I can also feel the opportunity in my bones.

You don’t have to go any farther than the newest residents of your neighborhood to confirm that yes, it is a good time to buy.

Annual appreciation based on monthly average price per square foot topped 35 percent this week – meaning that your neighbor who thought she was overpaying at $525K is looking at a $183K gain

The sign you want, the Realtor you need. See Page 3

in value. You don’t have to ask more than one renter who has been told their lease is not getting renewed or worse, their lease is going up 15 percent a month on renewal before being assured that yes, it is a good time to buy.

Stability in your monthly payment and your ability to choose when you make a move are significant reasons why starting your home ownership journey in THIS market can help to end the cycle of uncertainty in your housing situation.

Homes will never be more affordable

than they are today as prices rise, interest rates rise, and appreciation hits an all-time high (at least so far) – meaning that whether you are buying your first home, building your second or starting your rental portfolio, yes, it is a good time to buy.

In an attempt to offset the challenges our profitable market has created for us, we have become ground zero for wall street backed companies with a lot of

see MINDY page RE2

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See Page 4

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REAL ESTATE

MINDY from page re1

money and a treasure trove of technologies to help cash strapped Arizonans take advantage of the market when much of their funds are trapped in the very same commodity that they are trying to get into, housing.

There are lending solutions, and lease back options, some on the open market and others through relationships skilled real estate agents have built, developed or created. There are home swap programs, ways to buy before selling, and literally everything in between IF you have a home to sell first.

We’re entering the eighth week of an increasing number of listings on the market – still too few to satiate the demand, but it is definitely a trend worth watching. And after several quarters of a continued increase in inventory, we may just start to finally see appreciation slow down a bit which is a healthy sign that we are letting some steam out of the market and that sellers trying to time their market opportunity are ready to bite the bullet and join the ranks of their peers who are selling for, on average, 5 percent over list price.

GILBERT SUN NEWS | MAY 16, 2021

So, what other trends are we watching?

Sales counts are down meaning that there are less people transacting week over week and month over month (although still significantly more than just a year ago) – another sign that some people are pulling out of the market because they can’t or don’t want to compete.

But even these modest fluctuations in demand don’t seem too make much difference on price at this point as inventory has reached such a low level that any changes in demand remain virtually unnoticeable to the consumer.

We’re watching the percentage of primary owners versus investors or vacation home owners and the number of buyers coming from out of state versus the lateral, local moves that don’t do much to impact supply.

We’re still seeing buyers of resale properties experience a faster rate of appreciation than their new build counterparts but have seen significant increases in base prices from our local builders. If you’ve been lucky enough to get called for the opportunity to build before the wait-

ing list is exhausted, you’ve certainly seen this.

Gilbert isn’t showing any signs of a reversal in our trends with monthly sales counts on pace with two years ago when we had six times the active listings that we do today, a third of the days on market that we were enjoying just two years ago and about nine times fewer days inventory than we had just two years ago. Our annual dollar-per-square-foot has risen 40 percent in the last two years and annual appreciation is inching towards 30 percent – on pace with our peer cities despite demand slightly lower than where it was just a month ago.

Still unsure whether you should buy or sell in this market? Whip out a calculator and start with the numbers. As buyers, you’ll need to know just two things: what do you want to pay a month for your living expenses and how much money do you have to help you with the process.

On the selling side, you’ll want to know how much you owe (in a mortgage), how much you could sell your house for depending on the listing system you want

@AmyJonesGroup Each office is independently owned and operated

to follow, what money from that equation you want to take off the top for school or debt expenses and what’s left is your house money.

Evaluating when to move is a very personal decision and maybe you’ve decided that it’s not space you need but upgrades or cash to improve your financial situation from the current real estate market.

If you own a home, you have options.

If you don’t, now’s the time to find one.

So pick up a latte at Top Cup, find a quiet spot to mull it over the Riparian Preserve, grab a notebook from Studio223 to write down your plan, and then shout it from the top of the playground at the new Gilbert Regional Park because Gilbert, my friends, is on the growth fast track and our housing prices are going to keep pace with our growing reputation. The time is now.

Mindy Jones, a Gilbert Realtor and owner of the Amy Jones Group at Keller Williams Integrity First, can be reached at 480-2503857, Mindy@AmyJonesGroup.com or AmyJonesGroup.com

...a Tradition of Trust

REAL ESTATE

GILBERT SUN NEWS | MAY 16, 2021

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THE TOP 3 THINGS BUYERS WANT IN GILBERT Buyers looking to purchase a home in Gilbert, AZ have typically already been drawn to Gilbert because the town is often featured positively in the news. WalletHub ranked Gilbert as #20 in the country for happiest places to live and Niche said it’s the safest place to raise a family in Arizona. The town is also known for the Gilbert Public School District’s strong reputation over the years with the district ranking #5 in all of Arizona, according to Niche.

That said, Buyers want the full package when it comes to looking for their new home.

Here are three things buyers are looking for in their Gilbert home: 1. Buyers prefer homes to be less than 20 years old.

2. They want quick access to freeways as well as local amenities including shopping and restaurants.

3. Buyers enjoy communities that have multiple amenities within, including parks, walking trails, and preferably a community pool.

Many of the Gilbert communities built within the last 20 years offer a place a buyer can call their own slice of heaven, including their own backyard, a community park, and nearby amenities. Access to freeways remains important to buyers, even as more people work from home. The Loop 202 has been a welcomed addition for many years now and provides connections to the other major freeways.

No article about Gilbert would be complete without touching on Downtown Gilbert and how refreshing it is to have a vast variety of restaurants in the area. Whether dining during the day or the evening, Downtown Gilbert has so much to offer. The Gilbert Farmer’s Market has drawn large crowds on Saturday mornings over the years as well.

Overall, Gilbert continues to be a wonderful place to live and call home.

Melanie Nemetz

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Sold above asking price, multiple offers, sold above appraisal and the seller saved over $18,000. Call me TODAY and let me show you how I save you THOUSANDS, and sell your home fast. You won’t be disappointed!

Need to lease back? No problem. Sell on your terms!

Janet Rogers

480.221.3034 • www.fosteringre.com

602-565-0192

Each office is independently owned and operated

Gilbert Real Estate Snapshot Provided by the Amy Jones Group Your Local Real Estate Team

(480) 250-3857 | www.amyjonesgroup.com

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7 YEARS BEST OF OUR VALLEY

$700M+ SOLD REAL ESTATE

2,300+ SOLD HOMES

• Average Days on Market: 16 days Down from 21 Days Last Month

• Active Listings: 96 Down from 110 Listings Last Month

• Monthly Sales: 423 Up from 372 Sales Last Month

• Listings Under Contract: 524 Up from 448 Listings Under Contract Last Month

• Average Sales Price: $534,109 Down from $538,499 Last Month

• Monthly Supply of Inventory: 0.2 Down from 0.3 Monthly Supply Last Month

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REAL ESTATE

GILBERT SUN NEWS | MAY 16, 2021

Don’t wait to check your roof till last minute

BY MIKE SMYTH GSN Guest Writer

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he summer months are an especially rough time for your roof.

Here are a few tips to ensure your roof is ready for the hot months ahead.

Check your tile, shingle roofs. A tile roof usually last 40 to 50 years but not in Arizona, where the heat in the Valley significantly decreases a roofs longevity. The

Arizona heat will shorten tile roof’s lifespan to 20-25 years. High temperatures burn out the felt tar paper under the tiles of the roof like it is an easy bake oven.

Shingle roofs have an even shorter life span in the heat. This is because the sealant around the tar and the plastic flashings will wear out a lot quicker in the Arizona sun.

Flashings are a thin material used to direct water away from critical areas of the

roof. Plastic flashings will only last about five years before they become so brittle a bird could step on it and break it and rubberized flashings crack in the heat.

I personally recommend using galvanized metal flashings, which have a much longer lifespan.

When inspecting your roof, be on the lookout for sliding tiles. If you notice any tiles that are out of position they will need to be reinstalled and fastened

down. Improperly fastened tiles can blow up during the monsoon winds and cause serious damage.

Other areas to examine closely are around air conditioners, solar installations and sky lights. Sky lights are typically made out of plastic and the plastic wears out after about 10 to 15 years.

Cracks are a surefire sign they need to be

see ROOF page RE5

ARE YOU LOOKING TO SELL YOUR HOME? And Keep Money In Your Pocket?

Our Listing Fee Can Help You Do That!

JANET ROGERS

1355 S. Higley Rd., Suite 111, Gilbert, 85295

602-565-0192

Fax: 888-892-6490

janetrogersgroup.com janet@janetrogersgroup.com

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Marbella Vineyards in Gilbert!

Welcome to the highly sought after community of Marbella Vineyards in Gilbert. This single level, 4 bedroom, 2.5 bathroom Shea Renew model sits on a premium North facing lot with beautiful pavered drive, 3 car garage, modern interior & a professionally landscaped backyard with pool, water feature, built-in BBQ, and artificial turf for endless weekend fun. Inside you’ll find no detail spared in the building of this nearly new home with a large greatroom floorplan, feature kitchen with white cabinetry, oversized wrap around island, and formal eating area. Relax under the extended covered patio, enjoy the neighborhood amenities including basketball courts, playgrounds, and walking distance to the Gilbert Regional Park all situated in the A+ Rated Chandler school district - you are not going to want to miss this one!

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REAL ESTATE

GILBERT SUN NEWS | MAY 16, 2021

ROOF from page re4

Mike Smyth is the general manager at Overson Roofing in Mesa, which has served the Valley for over 30 years.

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Check out our digital copies at www.GilbertSunNews.com

MAKE THE MOST OF HOME ©2021 Ferguson Enterprises LLC 0321 2367404

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When preparing for the monsoon season you want to examine your roof for bird debris and leaves in the valleys of your roof. Cleaning your roof from debris will ensure it drains properly during a monsoon storm.

Waiting for a monsoon to damage your roof before calling a professional can cause a delay in getting your roof repaired. Everyone calls for roof repairs after a storm so you and 200 other people could be competing for a roofer’s time.

Any roof older than 15 years needs to be inspected yearly. A newer roof should be inspected once every couple of years.

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YOUR LOCAL SHOWROOMS: MESA | SCOTTSDALE Shop online or schedule a personalized appointment from the comfort of your home today at fergusonshowrooms.com.

Buying or Selling a Home?

Call Erik First!

Erik Geisler REALTOR® Your Real Estate Agent 1850 E Northrop Blvd #170 | Chandler AZ 85286 480-206-5592 cell | www.ErikGeislerRealtor.com

Serving the Valley, for over 15 Years!

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