Posts made by author 'Cindy Nelson'

Phoenix area sales are down, but home prices are up . I'll give you the scoop on home prices and tell you how much sellers are giving buyers to help with affordability. Plus, find out why 2024 could be a promising year in the Phoenix metro real estate market. Watch this video for the latest market update. 

Cindy Nelson is an Arizona native and REALTOR with Realty ONE Group and serves the Phoenix Metro area and the White Mountain region. In her spare time, you'll find her volunteering in her community, supporting local small businesses, and enjoying all Arizona has to offer.

It's a Buyer's Market Once Again In These 8 Cities
Median Seller Incentive Hits a New High

For Buyers:
Buyers who felt they lost out on the buyer's market last year will be getting another chance this year. The Greater Phoenix housing market, on the whole, only has a few days left before it enters a balanced market. However, as 18 cities are still in seller's markets, there are 11 that are either already in balance or in buyer's markets.

What does a buyer's market mean for buyers? Most buyers assume it means that sales prices will come down, but by the time sales price measures show a decline the buyer's market could be 2 months old, or already over like it was last year. The first thing to move isn't a sales price, but a list price combined with higher seller incentives for buyers.

Over the past 2 months, as mortgage rates peaked at 8%, weekly price reductions increased in number by 33%. Meanwhile, the median seller incentive to...

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Get to know Greater Phoenix by lending a helping hand.

Volunteering is more than just a pathway to giving back. In Greater Phoenix, volunteering becomes a unique way to contribute to worthy causes while also making meaningful connections with the area and its people. Here are six opportunities where you can lend a helping hand, make a difference, and genuinely get to know the Greater Phoenix area.

Midwest Food Bank (Gilbert, AZ)
Dedicated to alleviating hunger and poverty, Midwest Food Bank distributes food to about 30 nonprofit agency partners in the greater Phoenix area and beyond. By volunteering here, individuals can actively participate in sorting, packing, and distributing food to local nonprofits, contributing directly to t...

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More Choice for Buyers: Supply Up 22% in 10 Weeks

For Buyers:
The 4th quarter is here, and this is the best time of year to be a buyer in Greater Phoenix! Inventory continues to rise, up 22% in 10 weeks to be exact, and price reductions typically peak in October and November. Most sellers listing in October are motivated to close on their homes before the end of the year, but few are more motivated than builders. New homes make up 22% of active MLS listings and 29% of Maricopa and Pinal County August sales. Builder incentives are including not only closing cost assistance, but select upgrades and significant permanent and temporary rate buy downs. For perspective, let's use a $350,000 loan. If a buyer uses the seller's or builder's closing cost assistance to buy down the mortgage rate by 3% it would save more than $650/month on their payment. Buying the rate down by 2% saves $450/month.

Builders are not the only ones with incentives, however...

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Get the scoop on the Valley's real estate market and find out what's happening in the Phoenix area.  

In this issue: Phoenix Area Market Update PLUS Safest Cities for Trick or Treating, AZ Inflation Slows, Chili Recipe

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