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15125 E. Zapata Drive

This modern Southwest home at 15125 E. Zapata Drive has a casual livability that is perfect for families, visiting guests, or grandchildren.

This single-level home is on a corner lot with over half an acre. It has beautiful views of Four Peaks and the Mazatzal Mountains.

The open space concept living space features Vega poles, a wood-burning fireplace, and art niches throughout.

15125 E. Zapata Drive

A spacious kitchen has granite counters, a walk-in pantry, and a sunny breakfast nook.

15125 E. Zapata Drive

The owner’s suite has a separate entrance to the patio. The master bath features a jetted tub, a walk-in shower, dual sinks, and a separate makeup vanity.

The backyard features a pebble finish pool with a water feature tucked into a natural setting. A large, covered patio is perfect for entertaining with direct access to the kitchen and living space.

A 3-car garage is finished with epoxy floors and cabinetry.

15125 E. Zapata Drive

3 BD | 3 BA | 2,594 SQ FT | 3 CG

$825,000

CLICK HERE for more details on this home.

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Phoenix Among Top Metros for Jobs

While the housing market has been hot across much of the country, it has been on fire in Maricopa County over the last year.  And it seems that the basis for this growth goes beyond a short-term trend.

The Phoenix metro area has long been a sunbelt retiree economy. But after the Great Recession of 2008, local government leaders worked hard to restructure our economic strategies. This shift purposefully sought to bring in a wide range of industries.

The Phoenix metro area remains at the top for attracting high-quality workers, retaining jobs, and providing a great environment for startups.

MARICOPA COUNTY #1 FOR ATTRACTING & RETAINING JOBS

A study by the labor-analytics firm Emsi showed Maricopa County at No. 1 for attracting and retaining high-quality workers. Some of the county’s recent developments pushed it to the top in the report. These include Intel’s expansion of its Fab 42 factory and the county’s growth as a leader in advanced manufacturing and semiconductors. This has fueled a major increase in skilled jobs.

“Perhaps what is most striking about Maricopa’s economy is the breadth and depth of industries,” the report said. “It’s reasonable to assume Maricopa is benefiting from a feedback loop: existing talent attracts firms and investment, which in turn attracts more talent.”

Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said Maricopa County has become more competitive against other areas of the country for corporate expansions and relocations.

PHOENIX IS #7 FOR STARTUPS

The real estate investment platform Roofstock recently released a report that ranked Phoenix as #7 for new business formation. The report estimates that more than 6,108 businesses are being created annually, representing more than 37,785 jobs.

After the Great Recession, Arizona and its cities put together an economic policy to go after high-value jobs. And it worked! The job market is more diverse than ever in Maricopa County. Job seekers with tech skills may find numerous opportunities in Phoenix, drawing both recent grads and seasoned professionals.

Ten of the top industries in Phoenix for job growth include: health, technology, energy, construction, media, transportation, hospitality, finance, real estate, and consumer retail.

Part of what attracts businesses to Phoenix is the lower cost of doing business than many other metros. Job seekers are attracted to the cost of living, which is far more affordable than cities like Los Angeles or San Francisco.

HOUSING SHORTAGE

This rapid influx of people from across the country has contributed to a housing shortage. Not only has the population experienced significant growth, but new construction homes took a back seat since the beginning of the 2008 Great Recession.

According to a July 2020 article on the Phoenix.gov website, a “housing gap analysis of the current housing need and the available housing stock shows that Phoenix currently has a need for 163,067 additional housing units”. Since the above statistics were released in July 2020, the housing shortage has become even more acute in the entire Phoenix area. 

At RE/MAX Sun Properties, we have strategies to help you achieve success in the search for your next home.  Let’s discuss the myriad of ways we can assist you! 

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Real Estate

April 2021 Market Report

A “Normal Market” is a distant memory, but lately, we’re seeing some signs that COVID mania might be calming just a bit. That isn’t to say that we aren’t still seeing multiple offers on all price ranges of properties. There are still folks who are seeking homes and have a hard time finding them, a phenomenon that is occurring across the country.

At this writing, inventory is climbing just a wee bit, and price increases seem to be calming. Yet, the market is still at only about 25% of its normal inventory of homes, so things will continue to be tight.

Homebuilders are starting to make strides toward providing new inventory, as well. Unfortunately, those new homes are generally in the price range of $700,00 plus, yet each new home that is made available takes the pressure off somewhere in the foodchain.

If you’re thinking of buying, you still have a significant opportunity for future appreciation. As we discussed last month, the warning signs of over-building and over-leveraging present in 2008 are nowhere to be seen in this current market. And, if it’s time to cash in and sell, there’s never been a better time to call us.

If you wonder about finding your next home, let’s figure that out as well! We have strategies to help you go from one home to the next, and the experience to guide you through these uncertain times. Give us a call at 480-837-1331.

Market Report April 2021
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Real Estate

15209 E Fairy Duster Court

This SunRidge Canyon home at 15209 E. Fairy Duster Court has an open concept floorplan and 10-foot ceilings.

15208 E. Fairy Duster Court

The oversized windows offer a great view of the beautiful backyard.

15208 E. Fairy Duster Court
15208 E. Fairy Duster Court

The spacious island kitchen offers stainless steel GE Profile double ovens and microwave, an LG 3-door refrigerator, and a KitchenAid dishwasher. The convenient bar seating and sunny breakfast nook allow the chef to be part of the action. There are beautiful Alder cabinets and granite throughout.

15208 E. Fairy Duster Court

The Great Room features a gas fireplace and access to the large covered patio.

The huge primary bedroom has enough space for an office or seating area and has access to the patio. The bathroom features a deep soaking tub, an extra-large walk-in glass and tile shower, and a spacious, well-organized closet.

15208 E. Fairy Duster Court

There are three additional guest rooms. Two of them have a Jack-n-Jill configuration.

15208 E. Fairy Duster Court

Outdoors, you can enjoy the covered patio, a pebble finish pool, and a water feature in a thoughtfully landscaped yard with mountain views.

15208 E. Fairy Duster Court

4 BD | 2.5 BA | 3,066 SQ FT | 3 CG

$800,000

CLICK HERE to take a virtual tour of this home.

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12807 N. Sunridge Drive

This privately gated estate at 12807 N. Sunridge Drive is on one of Fountain Hills’ finest view lots.

12807 N. Sunridge Drive

Enjoy endless views of the McDowell Mountains, SunRidge Canyon, and Four Peaks from elevated patios.

12807 N. Sunridge Drive

From the moment you walk through the iron and glass front door, you will be inspired by the soft, contemporary, and spacious rooms with massive windows.

12807 N. Sunridge Drive

On the main level, enjoy a commercial kitchen, a great dining space, and an open Great Room. An oversized bonus room is perfect for billiards or other entertainment. There is also a private owner’s suite, three bedroom suites, and a laundry room on this floor.

12807 N. Sunridge Drive

Downstairs there is a pub room, a media room, two more bedrooms, and a bathroom. All of these rooms exit to patios.

12807 N. Sunridge Drive

Outdoors you will find a newer main level pool with a water feature, an outdoor kitchen, a fireplace, and a firepit. There is a roof deck where you can enjoy summer fireworks or year-round stargazing under Fountain Hills’ protected dark skies.

The 4-stall garage is extra deep and extra tall with room for seven or more cars.

This gorgeous home has no HOA.

12807 N. Sunridge Drive

6 BD | BA | 7,360 SQ FT | 7+ CG

$2,550,000

CLICK HERE for a virtual tour, or call us at 480-837-1331 to schedule an in-person tour.

CLICK HERE for more great Fountain Hills homes.

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Market Snapshot: March 2021

You’ve probably heard that the housing market is on fire right now in Arizona. But what does it look like in Fountain Hills and The Verdes? Check out our report below.

Market Snapshot March 2021
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Real Estate

15339 E. Sunburst Drive

This home at 15339 E. Sunburst Drive is located in the beautiful StoneRidge Estates in Fountain Hills.

This Southwest contemporary design is situated among majestic boulder structures that offer amazing privacy and dramatic Sonoran Desert views.

With nearly an acre of property, this home backs to an arroyo and has beautiful views of the Superstition Mountains.

You’ll love the wonderfully updated feel with tile plank floors, granite, stone, and quartzite with classic Alder cabinetry.

The casual Great Room floorplan easily handles a large group or just the two of you. The high ceilings and walls of windows frame the mountain views and boulder formations.

15339 E. Sunburst Dr.
15339 E. Sunburst Drive

The kitchen features a granite island with a vegetable sink and wine rack. Appliances include a Dacor black ceramic glass induction cook-top and double ovens, a Sub-Zero Knotty Alder paneled refrigerator/freezer, and a well-organized walk-in pantry.

15339 E. Sunburst Dr.
15339 E. Sunburst Dr.

The large dining room is open and provides plenty of space for generous entertaining, including a hospitality bar that is the center of attention for all of the upstairs living areas.

15339 E. Sunburst Dr.

The office/den has stunning floor-to-ceiling bookcases.

15339 E. Sunburst Drive

The grand master suite features a gas fireplace, large picture windows with views of Fountain Hills’ iconic mountain views.

The master bath features a jetted tub, a travertine walk-in shower, and a private Toto commode.

The full guest suite has a travertine walk-in shower.

Another sunny guest bedroom has spectacular views and easy access to the pool area.

The lower-level game room features a built-in entertainment center, a full hospitality bar with a quartzite slab, and plenty of space for game nights.

The pebble finish negative-edge pool and water feature perfectly frame the desert backdrop.

For those who have furry friends, you will appreciate the fully enclosed pet enclosure.

15339 E. SUNBURST DRIVE

4 BD + Den |3.5 BA | 4,270 SQ FT | 3CG

$1,000,000

Call us at 480-837-1331 to schedule an in-person showing.

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10401 N. Saguaro Blvd. #137

This darling Little Fountains condo at 10401 N. Saguaro Blvd. #137 is perfect for winter visitors, full-time residents, or to use as a rental.

Live close to the action with easy access to the Shea and the Beeline Highway.

This unit is ground-level with a private, east-facing patio that is open to the serene desert landscape and mountain views.

10401 N. Saguaro #137
10401 N. Saguaro #137

Little Fountains offers a clubhouse with a community center, an exercise room, BBQ, and heated saltwater pool and spa.

10401 N. Saguaro #137
10401 N. Saguaro #137

The split bedroom floorplan offers 2 bedrooms and 2 bathrooms.

10401 N. Saguaro #137
10401 N. Saguaro #137

The Great Room living area features a 6-foot door to the back patio, a media niche, an open kitchen, plenty of room for dining, and inside laundry.

10401 N. Saguaro #137
10401 N. Saguaro #137

CLICK HERE for a virtual tour, or call us at 480-837-1331 to schedule an in-person showing.

CLICK HERE to see more beautiful homes.

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15104 E. Sundown Drive

This Southwest-style home at 15104 E. Sundown Drive has big mountain views and plenty of room for entertaining.

15104 E. Sundown Drive

The charming courtyard entry with a beautiful art glass entry door beckons you into this single-level home with very few steps. The open concept brings together the great room, kitchen, and multiple dining options.

15104 E. Sundown Drive
15104 E. Sundown Drive

The home has two gas fireplaces in the great room and on the outside covered patio.

15104 E. Sundown Drive

The spacious kitchen is the true heart of the home with a cozy nook, wine bar, and entertainment center. The granite island houses the 5-burner GE cooktop with pendant lighting. Other appliances include a GE Monogram refrigerator with wood panel front, two wall-mounted GE ovens, a microwave/convection oven, a warming drawer, and a GE wood-paneled dishwasher.

15104 E. Sundown Drive

The kitchen is finished with granite counters and solid hardwood cabinetry. The hospitality bar has two wine cabinets, a vegetable sink, and built-in media spaces.

15104 E. Sundown Drive

The sunny breakfast nook has gorgeous views of the Mazatzal Mountains and the McDowell Mountains. The 60-in sliding glass door leads to a covered patio and outdoor cooking space.

The primary bedroom suite has an exit to a patio with beautiful views. The bath features a Jacuzzi walk-in jetted tub, a walk-in shower, dual vanities, a sit-down counter, and a private Toto commode.

The first guest room is fully suited. It offers a hospitality bar with a half-size refrigerator and has a walk-out to the putting green and pool area.

The second guest room is also fully suited with a large closet.

Guest bathrooms feature hardwood cabinetry, solid surface counters, rainwater glass walk-in showers, and Kohler commodes.

The flex space or third guest bedroom can be a media center, office, workout area, or other valuable space.

15104 E. Sundown Drive

The backyard feels like a private resort, starting with the heated Pebble-finish pool and spa with spill-over and a rock water feature. The oversized patio is perfect for entertaining with a great outdoor cooking space. There is a built-in Turbo 4-burner gas grill with a pass-through, an outdoor gas fireplace, and a hospitality bar with a full-size refrigerator and automated roll-down door.

There is also a full bathroom and outdoor shower.

A putting green and a view fence backing to an open wash tops off the resort-like feel of this backyard.

CLICK HERE for a virtual tour, or call us at 480-837-1331 to schedule an in-person showing.

CLICK HERE to see more beautiful homes.

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How Does Your Credit Score Impact Your Mortgage?

When it comes to buying a home, your credit score does three main things: it determines whether you are eligible for a home loan, what kind of loan you can get, and what interest rate you will pay for that loan.

WHAT IS A CREDIT SCORE?

Your credit score is a number that depicts your creditworthiness. The higher the score, the better. While there are multiple factors that determine that number, some of those factors include the number of open accounts, total debt level, and repayment history. Lenders want to know your credit score to evaluate the probability that you will repay your loans in a timely manner.

Your credit score will fall between 300, the lowest, and 850, the highest.

WHAT SCORE DO YOU NEED?

You do not need a perfect 850 to get the best mortgage rates, but there are some score requirements if you need to finance a home.

To qualify for the best interest rates, you should aim to have a credit score of 760 or higher. But different types of loans and different lenders have varying requirements.

The following requirements use estimates from FICO, the most popular credit reporting agency.

CONVENTIONAL LOAN– minimum score of 620

These loans are not insured by a government agency, but they follow standards set by government-sponsored mortgage companies (Fannie Mae & Freddie Mac). Many homebuyers find these loans to be more affordable. Down payment requirements will vary.

JUMBO LOAN– minimum score of 680

A jumbo loan exceeds the Federal Housing Finance Agency’s maximum loan amount limits and are not insured by the government. This means that lenders take on greater risk when granting them if you default on your payments. As a result, a higher credit score is required. Down payment requirements vary.

FHA LOAN– minimum score is 500 (with 10% down) or 580 (with 3.5% down)

These loans are insured by the Federal Housing Administration. They are a great option for borrowers who have lower credit scores and less to contribute toward a down payment. If you have a higher credit score, a smaller down payment is required. However, if your down payment is less than 20%, lenders are likely to require primary mortgage insurance (PMI) to reduce their risk if you default on your payments.

VA LOAN– no official credit score requirement

A VA (Veteran Affairs) loan is created for eligible members of the military and their spouses. It is insured by the U.S. Department of Veteran Affairs. It does not require a down payment, but most lenders want to see a minimum credit score of 620.

USDA LOAN– no official credit score requirement

These loans were designed for low- to moderate-income home buyers. They are insured by the U.S. Department of Agriculture and do not require a down payment. Although there is not an official credit score requirement, most lenders will require a score of 640 or higher.

Before you decide to buy a home, examine your credit score, and get your free annual credit report at AnnualCreditReport.com. Give yourself time to address your credit issues before you apply for a mortgage. CLICK HERE to use a Loan Comparison Calculator to help you see how much a loan costs at varying interest rates.

Here are some quick tips to revive your credit score and improve your loan options:

  • Check your credit report and correct any errors.
  • Pay down credit card balances to below 30% of your credit limit.
  • Pay all your bills on time.
  • Do not close older credit lines after paying them off.
  • Do not open any new lines of credit or take out large loans.

You will not improve your credit score overnight, but you can raise it over time to position yourself for the best mortgage rate possible. Having a higher credit score can make a significant difference in the amount of money you pay over the course of a loan. Borrowers with high scores can save thousands of dollars in interest payments.

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