January Market Update

By LINDSAY FRICKS

Last year I made three safe predictions for real estate in 2020 and in spite of a total wack job of a year they all came true. Yay me! 🙄 This year I’m going to save the predictions for the experts because I am surrendering to the fact that we are in an unprecedented real estate market conditions. We are experiencing the strongest sellers market than ever before. As a reminder, this is the balance of supply and demand which significantly favors sellers right now. We have once again eclipsed the highest median sales price which is up 13.7% versus last year.

Lindsay Fricks Real Estate Arizona

Buyer & Investors:

Sadly, I talk to a lot of pessimistic and discouraged buyers who have just decided to sit on the sidelines because it’s too competitive. We need to have a “come to Jesus” as some would say. There is no get rich quick scheme with real estate… this is a LONG term investment. Anything that has the opportunity to yield such strong returns should require some effort, amIright? Securing houses is not impossible in this market and the proof is in the numbers… There are a record number of transactions happening right now which means more people than ever are getting houses. Why shouldn’t you be one of them?

You have to get in the game to win. I’m finding great houses and getting them secured for my clients all the dang time. Real estate is a team sport, you aren’t just going to casually walk into a great real estate deal these days. You gotta prepare a game plan, get the right team in place (i.e. hire me) and then be ready to play full out. That means checking the listings daily (honestly hourly is best), seeing houses as soon as they hit the market, submitting a strong offer as guided by your market authority (also me) and having some tenacity. YOU CAN DO THIS! I helped 26 people get the house they wanted last year and my goal is to double that this year… I am more motivated than ever to help my clients get their slice of the real estate market. 

Lindsay Fricks Real Estate Arizona

Sellers & Landlords:

The heaviest push back I am getting from people right now is that they don’t want to sell high and then also buy high. I think this is silly because if you buy in relation to the current environment you’re in then you’ll never lose. You sell low, well great because you’re going to buy low and vice versa. My point here is that A LOT of you have determined that you need something else out of your house, but are afraid of how you can do that in this market. Last year I helped 7 families sell a home and buy a home simultaneously all without anyone being homeless. There are SO many creative financing strategies to help make this possible. It’s worth the conversation just to see if you might be in a position to transition to a new home that better fits your pandemic lifestyle needs.

Regardless of the market conditions people are always going to need to buy and sell houses. Interests rates change, inventory fluctuates, prices ebb and flow and one thing is for certain: nothing lasts forever. If you or someone you know needs help making a decision around real estate it would be my honor to share my advice and experience. 

Lindsay Fricks, Helping you, your family and friends Live & Love in Arizona!

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Median Home Price

$325,000

Annual Appreciation Rate

+7%

Estimated Population

450k

Median Age

34

East
Valley

why you want to live here

The two largest and most popular cities in the East Valley are Gilbert and Chandler. Once known for agriculture, the area has now been transformed into some of the most well known suburbs. Both cities have experienced tremendous growth in population and along with it now has all the amenities of larger cities. The suburbs are highly focused around families and have lots of parks, recreation and many family events year-round.

Median Home Price

$261,096

Annual Appreciation Rate

+8%

Estimated Population

1.6M

Median Age

33

Central
Phoenix

why you want to live here

Phoenix is the heart of The Valley of the Sun and capital of Arizona. Known for warm temperatures year-round and sprawling urban space surrounded by desert mountains. Phoenix is the 6th largest city in the US and home to nearly 1.6 million people. Phoenix has just about something to offer everyone: numerous golf course, professional sports teams, hiking trails, concerts, festivals and much more. With an affordable cost of living there’s a place for everyone with the Phoenix metro.

Median Home Price

$308,750

Annual Appreciation Rate

+8%

Estimated Population

174k

Median Age

28.5

Tempe

why you want to live here

Tempe is a city just east of Phoenix, in Arizona. Its striking Tempe Center for the Arts hosts concerts, dance and comedy shows. Nearby, Tempe Town Lake is dotted with kayaks, pedal boats and paddleboards. Tempe Beach Park hosts outdoor festivals. Rising above the city, Hayden Butte is a mountain dotted with centuries-old rock art. Sporting events and concerts are held at Wells Fargo Arena.

Median Home Price

$725,000

Annual Appreciation Rate

8%

Estimated Population

36,241

Median Age

39

Scottsdale

why you want to live here

Scottsdale has long had a reputation as one of the most affluent cities in the West most well known for high end golf, spas, resorts, restaurants and shopping. There are over 27 golf courses located within the Scottsdale boundaries. The Southern part of Scottsdale is home to the historic Old Town area. The southwestern charm, numerous restaurants, bars and shopping as well as exciting nightlight make Old Town a hot spot for both young and old. Central Scottsdale is home to many popular golf communities such as McCormick Ranch, Gainey Ranch and Kierland Commons.  North Scottsdale is home to to two of the valleys largest annual events: the Barrett Jackson Auto Auction and the Waste Management Open PGA tournament. These events along with the 5 professional baseball spring training facilities bring millions of visitors into the area throughout the Spring months.

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