REMAX East Valley- Carter Kolba

10/18/2023

Little Pete decided to take some vacation time- nothing like golfing in Rocky Point to ease the stress.

10/14/2023

Fall is in the air and it’s buying season

09/21/2023

Open Saturday 10-2:00.
4799 N DragoonDr Chandler, AZ 85249
This former model home is loaded with upgrades and checks all the boxes. Split 3 car garage- single bay has EV hookup, 2 car bay is insulated with AC. Formal dining room with wood flooring, upgraded kitchen with granite tops, 42” cabinets, center island, dbl ovens and more. Primary suite is on main level with glass block walk-in shower, separate vanities, and access to the backyard. Upstairs features three bedrooms, 1 bath and private home office with built in bookcases/ cabinets.
Great location to shopping and schools. This is a must see.

Click here for details:
https://www.remax.com/AZ/CHANDLER/home-details/4799-S-DRAGOON-DR-CHANDLER-AZ-85249/4310106877502265092/M00000048/6601458

09/08/2023

Beautiful former model home that checks all the boxes. Master suite downstairs, 3 bedrooms, one bath and private home office upstairs. 3 car garage with EV connection, large diving pool, chefs kitchen with double ovens, gas cooktop, granite and upgraded cabinets. So much more- ready to make the move?
Click on the link below for more info.

https://carterkolba.remax.com/details/?mls=22&mlsid=6601458

09/07/2023

Here are last month's housing stats for the local real estate markets.

08/25/2023

07/29/2023

Open Saturday- 10-1. Take a break from the heat and see this beautiful home. 5 Bedroom, 3 full baths in Cortina- just minutes away from community pool & elementary school. Full Bedroom/Bath downstairs would make a perfect home office. 3 Car garage and much more

07/14/2023

Open Saturday 11-2 18642 E Lark Dr Queen Creek, AZ
This beautiful 5 Bedroom home in Cortina is just a couple blocks away from Elementary School and Community Pool.

07/07/2023

Housing Recovery Complicates Fed’s Fight Against Inflation

The U.S. housing market is starting to recover, which will raise shelter costs and complicate the Federal Reserve’s fight against inflation. Prospective buyer traffic to new homes has nearly doubled in the past six months, despite still-high mortgage rates and a smaller supply of available homes.
• Sellers are receiving 3.3 offers, on average, for their homes, up from 2.2 in December, the National Association of Realtors said. New home sales jumped 12% in May, while home prices have climbed for three straight months.
• Rising rates make home buying more expensive, slowing demand, but they also make home building more expensive—hurting supply and driving up future prices. Fighting housing inflation with tighter monetary policies “can really backfire” in the long term, Zillow’s Jeff Tucker said.
• Roughly one third of available homes are a new construction. The iShares U.S. Home Construction ETF is up 38% this year as home builders rise. Toll Brothers stock has gained 58%; Lennar is up 38%; PulteGroup is up 70%; and D.R. Horton has climbed 35%.
• Smaller builders have performed even better. Green Brick Partners, Beazer Homes USA, and M/I Homes, three builders with market values below $3 billion, have returned 134%, 122%, and 89% this year, respectively.
What’s Next: Most builders will report second-quarter earnings in mid-to-late July. Since the housing market began to moderate from its frothy pandemic pace last summer, financial comparisons are expected to become easier in the second half of the year.
—Megan Cassella, Shaina Mishkin, and Janet H. Cho
***

06/20/2023

Oops! Home Prices Didn’t Crash After All
During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:
Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:
“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”
Mark Zandi, Chief Economist at Moody’s Analytics:
"Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession.”
Goldman Sachs:
“Housing is already cooling in the U.S., according to July data that was reported last week. As interest rates climb steadily higher, Goldman Sachs Research’s G-10 home price model suggests home prices will decline by around 5% to 10% from the peak in the U.S. . . . Economists at Goldman Sachs Research say there are risks that housing markets could decline more than their model suggests.”
The Bad News: It Rattled Consumer Confidence
These forecasts put doubt in the minds of many consumers about the strength of the residential real estate market. Evidence of this can be seen in the December Consumer Confidence Survey from Fannie Mae. It showed a larger percentage of Americans believed home prices would fall over the next 12 months than in any other December in the history of the survey (see graph below). That caused people to hesitate about their homebuying or selling plans as we entered the new year.

The Good News: Home Prices Never Crashed
However, home prices didn’t come crashing down and seem to be already rebounding from the minimal depreciation experienced over the last several months.
In a report just released, Goldman Sachs explained:
“The global housing market seems to be stabilizing faster than expected despite months of rising mortgage rates, according to Goldman Sachs Research. House prices are defying expectations and are rising in major economies such as the U.S.,. . . ”
Those claims from Goldman Sachs were verified by the release last week of two indexes on home prices: Case-Shiller and the FHFA. Here are the numbers each reported:

Home values seem to have turned the corner and are headed back up.
Bottom Line
When the forecasts of significant home price depreciation were made last fall, they were made with megaphones. Mass media outlets, industry newspapers, and podcasts all broadcasted the news of an eminent crash in prices.
Now, forecasters are saying the worst is over and it wasn’t anywhere near as bad as they originally projected. However, they are whispering the news instead of using megaphones. As real estate professionals, it is our responsibility – some may say duty – to correct this narrative in the minds of the American consumer.