Home Spotlight: 775 E. Farmers Lane

Here’s our Featured Listing for this week!

HOME SPOTLIGHT: 775 E. Farmers Lane, Queen Creek, AZ 85140

Welcome home to this stunning St. Tropez home, built in 2020. Situated on a premium homesite with open space behind the home. It even offers a 4-foot garage extension that provides extra space for your golf cart or bikes. The home’s modern, open concept living area boasts tons of natural light and endless upgrades. The kitchen space is a chef’s dream, featuring top-of-the-line stainless steel appliances, sleek granite countertops, and plenty of cabinet space for all your kitchen essentials. The primary suite offers a tranquil retreat, complete with a luxurious en-suite bathroom featuring a large walk-in shower and double vanity. The secondary bedroom is spacious and comfortable, perfect for guests or a home office. Steps to the new Algarve amenities. Book your showing today!

Interested in viewing this beautiful family home? Connect with us today to schedule a private showing: Shea Preferred Realty Group OR you may go directly to the MLS to view all the details and photos for the home here: 755 E. Farmers Lane

Is it Time to Buy a New Home?

How do you know if it is the right time to buy a new home?

Here’s an expert advice from Ben:

It might seriously be time to ditch the landlord, buy a home, and make your own rules. These 5 questions may help guide your decision…

1. Can you afford a down payment? You don’t need piles of cash, but you do need a little (say 3-10% of the home price) to qualify for a competitive interest rate

2. Do you have regular income? Two years of employment history is preferred, but other factors, such as a high credit score and low debt-to-income ratio, can sub for less than two years.

3. Do you know where you want to live? If you’re new to the area, you might want to wait a few months and get your bearings. I promise you’ll know what areas feel like home after a while

4. Do you plan on staying put for a while? No one knows the future, but sticking around for 2-5 years is ideal if you can make it work.

5. Are you comfortable with current home prices? Sure, they’re higher than you’d like, but when you run the numbers, you feel confident you can make the budget work.

Is 2023 the year you become a homeowner? DM us, and let’s talk about you and homeownership: Shea Preferred Realty Group

 

Real Estate Purchase Agreement

Home buying comes with plenty of forms to fill out, but none will be more meaningful than the real estate purchase agreement – a document that puts both you andthe seller on the same page when it comes to sealing off this special deal.

 

Real Estate Purchase Agreement

A purchase agreement is a legally binding document the buyer and seller sign to govern the transaction. It defines all sorts of terms and conditions.

  • Full legal names and contact information for both parties
  • The address of the property, a description, and fixtures included and excluded from the sale
  • Contingencies or, essentially, conditions on the sale, like a “condition to financing” (whereby the sale falls through if a buyer can’t get mortgage approval) or “condition to inspection” (whereby a buyer can professionally inspect the home to ensure it’s in working order).
  • A timeline for closing and a possession date
  • Closing costs and responsibilities
  • And any other grounds for terminating the agreement

 

Who drafts the RPA?

Your real estate agent drafts the agreement, which is why it’s essential to find trustworthy representation in life with your values and needs.

Especially where contingencies, termination options and disclosures are concerned, you want to know that your real estate agent is

  1. thorough and,
  2. respectful of your unique financial situation and risk tolerance.

 

What should you do before signing RPA?

As with any contract, the key here is to execute due diligence. Read the agreement front to back, and make personal notes if necessary. If there are any terms, figures or lines of verbiage you don’t understand, ask your real estate agent – that’s what they’re here for!

 

Connect with us today if you have any questions about the home buying process! ???? Shea Preferred Realty Group

#realestate #realtor #arizonarealestate #arizonarealtor #eastvalley #eastvalleyarizona #queencreek #qcliving #queencreekliving

Curious to see who’s popular at Encanterra this year?

Encanterra Real Estate Market Report- 2022 & looking forward to 2023

Take a look below to see which floorplans were the most popular in 2022.

Encanterra ONLY sales Market Report for 2022

*No longer offered

2022 Encanterra ONLY market statistics:

43 Canceled/expired listings

Average days on the market for the canceled or expired: 32 with the high at 182 days

2022 – 99 new build closings

2022 – 130 resale closings

Of these 130 resale closings; the average days on the market: 90 with the high 252 days

 

Looking forward

How our market evolves in 2023 will be determined by three metrics: Mortgage rates! Mortgage rates! Mortgage rates!

VALLEY WIDE statistics- ARMLS (Arizona Regional MLS) Pending Price Index (PPI) Last month, STAT’s mathematical model projected the median sales price for December at $420,000, the actual amount was $412,000. Looking ahead to January, the ARMLS Pending Price Index is projecting the median sales price to drop slightly to $410,000. If January’s median sales price projection is correct, our year-over-year median sales price will have 13.68% from May 2022’s record high of $475,000. Our December’s median price projection missed the mark by $8,000 or 1.9%. This was caused by numerous contracts signed earlier this year which had been assigned a year-end escrow date, in which a status change had taken place and had not been updated.

We began January with 4,910 residential listings under contract. This compares to 8,812 of the same type of listings one year ago. At the beginning of January, the “pending” contracts are 44.28% lower than last year.  ARMLS reported 6,806 sales in January 2022. The highest sales volume ever in January occurred in 2021 with 7,076. When January’s numbers are reported this year, we will see a drop in both sales volume and price. If our models are correct, year-over-year sales volume will decline around 45%.

 

In conclusion, let us share with you two published opinions:

Sam Khater, Freddie Mac’s Chief Economist: “Mortgage application activity sunk to a quarter century low this week as high mortgage rates continue to weaken the housing market. While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.” While mortgage rates have resumed their decline, the market remains hypersensitive to rate movements, with purchase demand experiencing large swings relative to small changes in rates. Over the last few weeks, latent demand has been on display with buyers jumping in and out of the market as rates move. 

Michael Orr of the Cromford Report: “We are still dependent on the whims of the Federal Reserve. If they continue to push the Federal Funds Rate higher in an attempt to curb inflation, then mortgage rates could move higher too, putting a quick damper on any recovery in demand. However, if the 30-year fixed mortgage rate stays between 6% and 6.75%, then we should have confidence that the housing market can operate normally at this level. To achieve confidence, we need several months of interest rate stability. This is by no means certain to happen, but it is possible. Once the fear is removed, we should see more signs of a recovery in demand and volumes will rise back towards a more normal level.”

Want to discuss your home’s value? Let’s chat!

HOME SPOTLIGHT – 37204 N STONEWARE DR

37204 N STONEWARE DRIVE

QUEEN CREEK, AZ 85140

2 BR + 2.5 BATHS + 2173 SF

GENOVA PLAN

Start the 2023 year off right with a gorgeous home located in Trilogy at Encanterra. This popular Genova plan is ready for you. The home offers a sparkling pool and spa with expanded pavers and tons of backyard privacy. Enjoy your morning coffee in the front courtyard and take in the views on the 14th green. Custom tile-work and upgraded flooring will wow your guests! The gourmet kitchen is well appointed with stainless steel appliances, gas cooktop, warming drawer and so much more! The backyard is like your own tropical paradise with a gas fireplace, putting green, spa and heated pool. And a huge bonus with having the pre-paid solar for amazing energy efficiency. New interior paint, custom window treatments, built in cabinets and so much more. Start living the Good Life today!

OFFERED AT $765,000

LINK TO THE MLS LISTING

Top 5 Interior Trends for 2023

Each New Year ushers in a variety of new trends, from fashion to technology to interior design. Whether you’re looking for ways to spruce up your current home before selling it or you’re starting to plan the style of a new home, the upcoming trends forecasted by designers can provide some inspiration.

Here are 5 of the top interior design trends you can expect to be seeing in 2023:

  1. Calming colors. When it comes to paint colors, wallpaper, and décor, homeowners are increasingly preferring warm, neutral hues that evoke a sense of calm and coziness. Colors commonly found in nature—such as muted browns and greens—are always a safe choice, but shades that are deeper yet still earthy (like mustard yellows, the popular accent color Ultramarine blue, or Pantone’s color of the year for 2023, Viva Magenta) are finding their place as well.
  2. Statement rugs. To complement a more neutral color palette, designers are seeing homeowners opt for statement rugs that are both functional and decorative. With bold colors and patterns, these rugs can essentially serve as “floor art.”
  3. Gold accents. Reflecting the theme of warm over cool tones, gold and brassy fixtures—including lighting, faucets, and cabinet or drawer pulls—will continue to be popular, while brushed nickel has fallen out of favor.
  4. High-gloss wood finishes. From floors to cabinets, matte wood finishes are being swapped out for high-gloss, which brings a polished, eye-catching look to any room.
  5. Biophilic design. While this trend is not exactly new, designers expect to continue seeing homeowners seek ways to bring elements of the natural world into their homes. This often manifests in the use of natural, organic materials, such as bamboo, cork, and wood, as well as decorative objects with freeform shapes. Incorporating these items can add warmth and texture to any interior design.

 

Sources: good housekeeping & house beautiful

 

Ben Leeson and TJ Kelley

Arizona Experience Realty Group Resale Broker for the SHEA Preferred Program

480-677-8170

Info@ENCBrokers.com

 

36460 N Encanterra Drive Queen Creek, AZ 85140