If you need assistance, please call 480-365-8346

Juan Grimaldo | THE GRIMALDO GROUP BLOG

Friday, October 22, 2021   /   by Juan Grimaldo

First signs of parity in housing market begin to emerge

A friend of mine who is a noted home appraiser in the Raleigh-Durham area told me recently that for the first time this year, a home was sold close to the price of his appraisal.
“One sale is not a trend,” he says. But he adds, “At least now, the comparables may reflect the realities of home values in a few short months. I am optimistic.”
Home appraisers rely heavily on sale prices of comparable houses in the neighborhood to determine the appraised value before a sale.
This appraiser’s point mirrors the findings of CoreLogic, a California business intelligence and analytics firm that found that 13 percent of the sold homes in the country had a sale contract above the appraised price in August. That number was about 20 percent in May, but only 7 percent in January 2020.
The gap has forced thousands of potential buyers off the market despite low interest rates because banks and mortgage firms required buyers to cover the difference of the ...

Read More

Friday, October 22, 2021   /   by Juan Grimaldo

Your Home Equity Is Growing [INFOGRAPHIC]

Some Highlights

If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year.
Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams.
Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals. ...

Read More

Thursday, October 21, 2021   /   by Juan Grimaldo

Important Distinction: Homes Are Less Affordable, Not Unaffordable

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been.
Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report reveals:

“The monthly payment required to purchase the average priced home with a 20% down 30-year fixed rate mortgage increased by nearly 20% (+$210) over the first nine months of 2021, . . . It now requires 21.6% of the median household income to make the monthly mortgage payment on the average home purchase, the least affordable hou ...

Read More

Thursday, October 21, 2021   /   by Juan Grimaldo

Scottsdale luxury homebuilder launches custom and remodel division

Camelot Homes is launching a custom building and remodel division.
Cammie Hancock Beckert, managing director of Camelot Homes, said the Scottsdale-based luxury homebuilder had remodeled a couple of homes in 2019 that got the team thinking about creating a division dedicated to remodeling.
Camelot also has built custom homes along the way, so they figured they would put both under one division, she said.
"We focus on larger remodels, where we can really make an impact and use our design talent to either update a floor plan or the layout of the floor plan, " Beckert said. "We aren't the remodeler that will just do a bathroom. Our target market has been more aligned with the larger scale remodels."
To continue reading, click here.By Angela Gonzales, Senior Reporter - Phoenix Business Journal ...

Read More

Wednesday, October 20, 2021   /   by Juan Grimaldo

Howard Hughes Corp. pays $600M for Douglas Ranch in Buckeye

The Howard Hughes Corp. (NYSE: HHC) has plopped down $600 million for the proposed 37,000-acre Douglas Ranch master-planned community in Buckeye.
The proposed development — 35 miles from downtown Phoenix on the west side of the White Tank Mountains — is expected to have 100,000 homes, 300,000 residents and 55 million square feet of commercial development.
Scottsdale-based El Dorado Holdings Inc. and Phoenix-based JDM Partners — which sold the vacant land to HHC, will still maintain a 50% stake in Trillium, the 3,300-acre master-planned community designed as the gateway into Douglas Ranch.
To continue reading, click here.
By Angela Gonzales, Senior Reporter - Phoenix Business Journal ...

Read More

Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. October 25, 2021
This site powered by CINC: www.cincpro.com