Putting More Equity in Your Pocket

The numbers are out, and the Phoenix Metro real estate market is going strong!  Sales are up 13.8% over last month and are 5.6% higher than last year’s sales.  Housing inventory numbers for new and total inventory were up, but inventory remains low with only a 2.43 month supply of homes. Home prices have also increased in the past year, with the average sales price up 5.6% and the median sales price up 6.3%. Days on market have continued to be consistent for the last quarter and is currently at 69 days on market.

For the first time in 2019, we saw a year-over-year gain in sales volume, the second highest sales volume on record.  Lower interest rates and higher loan limits are helping the market lift. Based on the current activity, we also expect strong sales numbers for May.

Another factor for a strong real estate market is that Phoenix was named as the top destination in the country according to a recently published Redfin Migration Report.  More than a third of people searching for homes last quarter were from out of town. Many are coming from California and expensive cities from other states, for our low cost of living and great weather.  This trend has been increasing thanks to strong job growth and major companies like Allstate, Intel, Boeing, Microsoft, & Facebook moving or expanding operations in the Phoenix Metro.

If you’re considering moving up or down, now is an opportune time to make that move. Let us show you how much more our 20+ years of experience will put in your pocket! Call us at 480-355-8645 or email Info@LocateArizonaHomes.com today!

Chandler Approves Entertainment Complex Downtown

The Chandler City Council unanimously approved a development on one of the last vacant city-owned properties last week.  The development, to be completed by LGE Design Build, will be a 37,500-square-foot mixed-use entertainment destination. LGE is also the developer behind Overstreet Chandler across the street, now occupied by Flix Brewhouse.

The lot, known as Site 7, is a two-acre parcel that used to be a gas station and tire shop. More recently, it’s been used for parking. LGE also has the option to negotiate with the owner of the Jack in the Box restaurant to the north, to possibly relocate the restaurant and purchase the land for a larger project.

The project is set to be completed by 2024. LGE must break ground within three years of the development agreement being signed, and complete construction no more than two years after breaking ground. LGE will rent the land from the city for five years (about how long the project will take to be completed) although they also have the option to purchase the land outright during any point of the lease agreement. If they are unable to negotiate terms to relocate the Jack in the Box, the project timeline will be moved up.

This is exciting news for Chandler as downtown continues to expand! The development will be a welcome addition to the vibrant community. If you’re thinking about making Chandler your home, please give The Gina McKinley Group a call at 480-355-8645 or email Info@LocateArizonaHomes.com today! We’d love to share more things about what makes the city we live, work, and play in so great.

Chandler’s Summit Point Park Gets A Makeover

Summit Point Park, a quaint .29 acre park in Chandler is getting a makeover starting this month.  For those who aren’t familiar, Summit Point Park is in the heart of the neighborhood in the northeast corner of Elliot & Alma School Roads. The hope is to inspire residents, both young and old, to get outdoors and play.

Though small, the corner park has had a substantially positive impact on the community since its construction more than three decades ago.  In order to make sure the park renovation will be well received, Chandler has developed a conceptual plan for the park that includes additions requested by the community itself.  The most popular request? Outdoor fitness equipment.

In addition to the fitness stations, the park will also expand into a vacant alley behind to add space for cornhole games and a rubber-surfaced space for other sidewalk style games. Other improvements include a new water fountain, additional shade canopy, new lighting fixtures, benches, and picnic tables.

“Parks play an important role in the quality of life in Chandler. Investing in parks such as Summit Point Park ensures that Chandler’s parks are kept up to date and the recreational needs of the community are being met,” the Community Services Planning Manager for Chandler, Mickey Ohland, said in a statement.

For more information on what makes Chandler such a great place to live, give us a call at 480-355-8645 or email us at Info@LocateArizonaHomes.com today! We’d love to share what makes the city we live, work, and play in so great.