Tom Wolf-Fairmark Residential Team

08/15/2023

The ultimate home for entertaining: 206 W Rock View Rd.
6 bedrooms, 6 bathrooms, 360 degree mountain views, pool, whirlpool bath, outdoor bar and fireplace, sport court, indoor pub and game room, a full movie theatre and so much more. Full details below:

https://mandrillapp.com/track/click/30651565/dashboard.listerassister.com?p=eyJzIjoiVDlQNzRiMVNrM09VVGlSdUhTU0ZUWXpFenc0IiwidiI6MSwicCI6IntcInVcIjozMDY1MTU2NSxcInZcIjoxLFwidXJsXCI6XCJodHRwOlxcXC9cXFwvZGFzaGJvYXJkLmxpc3RlcmFzc2lzdGVyLmNvbVxcXC9hbm9uXFxcL3dlYnNpdGVcXFwvNTQwNzAzXCIsXCJpZFwiOlwiYzJiNDEyN2E2NDYwNDBjMWJiOTYxYmUyZDdlNjNkYWNcIixcInVybF9pZHNcIjpbXCIwYzNjNGM2YWRjYTc4NmZhODkyZGIzYTg5ZDhiOTcyYmZhMzEwNzUwXCJdfSJ9

07/12/2023

The Phoenix real estate market has recovered nearly all of the late 2022 price losses over the last 6 month as buyers continue to adjust to higher interest rates. Purchase volume has stayed steady in relation to the available inventory, and buyers have shown they are willing to move forward, even with higher rates, with the hopes that they will be able to refinance in the near future. Low inventory continues to be problematic and that issue appears to be here to stay for the foreseeable future. Now that interest rates appear to have stabilized for the most part, our projection is that we will continue to see price increases going forward unless other economic conditions change. See what changed in June in your neighborhood below.

July 2023 Phoenix, Arizona real estate and homes market report

07/03/2023

It's never a surprise to see Phoenix ranked at the top for relocation destinations, but it might surprise some to see which city ranks first in the number of people moving TO the Phoenix area. Most assume that California is our biggest source of new residents. It used to be, but now the migration is coming from the northwest.

A record one-quarter (25.4%) of homebuyers nationwide are looking to move and Phoenix is the top relocation destination.

06/26/2023

This is good news. Housing affordability increased in Arizona without home prices coming down by any significant amount. That means incomes are rising.

Housing affordability increased nationally and in all Arizona metropolitan areas for the first quarter of 2023 based on the latest reports.

06/15/2023

Many will view the construction of build to rent single family homes as a negative, using the argument that we need more inventory to purchase in order to increase housing affordability. I disagree.

I believe that ALL new housing inventory impacts affordability. If rental options become more abundant, that will eventually drive down rental prices due to increasing vacancies. Falling rental prices mean that fewer investors are interested in purchasing properties to use as rentals, which decreases demand for housing and makes properties more available/affordable to buyers who intend to occupy them.

As a real estate agent, I don't cheer for big price increases or decreases. I strongly prefer a healthy, balanced market with reasonable and sustainable annual growth. In my view, rental prices have been problematic for many tenants, so my view of these developments is positive. I'm interested in hearing other opinions though.

-Tom Wolf

Following several years of rapid growth, Metro Phoenix is No. 1 for new single-family build-to-rent development.

12/19/2022

The Phoenix real estate market is currently experiencing a bit of an identity crisis. Home sales are down, but so is inventory due to a lack of new listings, which means the prices have not fallen as projected. Here is the complete report for December:

December 2022 Phoenix, Arizona real estate and homes market report

12/05/2022

Welcome to THE best views in the exclusive Tonto Verde neighborhood! The home is perfectly appointed, and the wonderful community amenities are just a block away. Oh, did we mention the views!? Contact us for more details.

11/09/2022

Attention Homeowners: I posted about this several years ago, and it's important that I repost it again based on some recent transactions that we have completed. If you are considering adding solar to your home, please contact me first. There are so many moving parts to consider and understand before you make that move, most of which will have future implications on the value and marketability of your home. Even if you aren't planning on selling anytime soon, I promise that the conversation will be an important one and you will definitely have some things to consider after we talk.

Tom Wolf-Fairmark Residential Team
(602) 332-5507

Send a message to learn more

10/31/2022

Although average home prices are down at the moment due to interest rate increases, it's important that new home construction doesn't grind to a halt, otherwise we will be right back in a hyper competitive, bidding war market that we were in just 6 months ago. This announcement is very positive news.

The Howard Hughes Corporation — in partnership with JDM Partners and El Dorado Holdings — broke ground Friday, Oct. 28, on Teravalis.

10/25/2022

Chandler was one of only 4 communities in the greater Phoenix area to experience an increase in home prices in September. The remainder of the area experienced a price drop of over 4%. See what other communities bucked the trend: http://movingtophoenixaz.com/phoenix-real-estate-market-reports/october-2022-phoenix-real-estate-report.php

October 2022 Phoenix, Arizona real estate and homes market report

10/18/2022

The Phoenix real estate market continued its up and down pattern in September that it has followed over the past several months. The average home price dipped despite inventory and sales remaining fairly steady. Given the upcoming holiday season, this trend may continue for the remainder of the year. High interest rates continue to be the significant driving force behind the market changes, and rates don't appear to be decreasing in the foreseeable future. The market changes have created some good purchasing opportunities which have not been seen in the past several years. To see the full report and see the specifics of your area, visit our website

October 2022 Phoenix, Arizona real estate and homes market report

09/12/2022

Phoenix metro areas that experienced an average home price increase last month were:

Ahwatukee - Increased from $566,839 to $594,264 (4.8%)

Apache Junction - Increased from $352,813 to $391,052 (10.8%)

Buckeye - Increased from $465,491 to $490,890 (5.5%)

Fountain Hills (Median Price)- Increased from $595,000 to $649,000 (9.1%)

Laveen - Increased from $493,766 to $515,569 (4.4%)

Mesa - Increased from $458,496 to $460,200 (0.3%)

Peoria - Increased from $545,528 to $555,861 (1.9%)

Phoenix - Increased from $503,315 to $503,748 (0.1%)

Queen Creek - Increased from $729,306 to $763,566 (4.7%)

Scottsdale - Increased from $1,074,661 to $1,116,843 (3.9%)

Surprise - Increased from $470,316 to $473,726 (0.7%)

Tempe - Increased from $488,580 to $495,585 (1.4%)