Realty Executives Phoenix

Denise van den Bossche

Denise van den Bossche

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This is NOT a Housing Bubble: April 2022

(Published on - 4/5/2022 4:09:55 AM)

 

NOT a Housing Bubble

According to a Forbes article March 25, this is NOT a housing bubble (full article)

Housing Bubble stick diagram

 And to buy a house in this market you REALLY need someone experienced. See more on this topic in my 3-MINUTE VIDEO link. (check back April 15)

 

 

Experts Predict Another 16.3% in Home Values by December

A new survey of experts published 3/24/2022 sees home valuations between February and December this year averaging 16.3% appreciation. Excerpts:  While 38% of experts polled by Zillow believe 2024 will be the year inventory returns to 2019 levels, 36% pegged 2023 as the year. The remainder believe we'll have to wait until 2025. The survey continues,  The inventory crisis gripping America’s housing supply will most likely let up in 2024, with some experts forecasting a longer wait, according to a new survey released Thursday (3/24/2022) by Zillow.  In the immediate future, experts predicted home values and rents to continue trending upwards, with Zillow economists predicting a 16.3 percent increase in typical homDeniseVDB.com Celebrating 36 years Arizona Real Estatee valuations between February and December 2022.

 

One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance.  Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate.

 

 


Real Estate: The Best Hedge Against Inflation. March 2022

(Published on - 3/1/2022 4:35:01 PM)

Inflation as a Hedge DeniseVDB.com

Real estate is one of the time-honored inflation hedges. It’s a tangible asset, and those tend to hold their value when inflation reigns, unlike paper assets. More specifically, as prices rise, so do property values. – Mark P. Cussne, Financial writer, Investopedia

 

Diverse Opinions of Housing AppreciationOne thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance.  Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate.


Short Term Rentals New Rules Arizona

(Published on - 2/27/2022 1:03:18 AM)
Paradise Valley Arizona has new laws in effect February 26, 2022. What does this mean for home buyers?

Paradise Valley IndependentSTR new Laws in AZ DeniseVDB.com

By Tim Dickman | Guest Commentary

The Paradise Valley Town Council recently enacted changes to the town code related to Short Term Rentals (“STRs”). A state law passed several years ago, substantially reduced the ability of cities and towns to regulate STRs — including an outright ban. However, that law does permit cities and towns to regulate STRs related to health and safety.

The Paradise Valley Town Council changed the code fully in compliance with state law. The purposes of the code changes were to:

  • Further define and regulate “special events” since many STRs were being used as wedding venues or engaging in other impermissible business activities;
  • Minimize nuisance behaviors which have become all too familiar to people living near an STR;
  • Protect public health and safety.

If you live near a problematic STR, it is important for you to know the Town code and your rights.

Emergency Complaints — Call 911.

If there is an emergency or criminal activity, you should immediately call 911.

Tell the 911 operator the nature of the emergency. You have a right to be safe and should always feel free to call 911 if you or your family are threatened or feel threatened.

Non-emergency complaints — 480-948-7410

Tip! Put the non-emergency number in your phone so that you have it handy!

 

You can report any violation of town code related to STRs to the non-emergency number above. You should fully understand the new town code so that you can file an informed complaint.

 

Here is a seven-step guide to understand the new code changes for the purpose of non-emergency complaints.

  1. STRs are required to be “registered” with the town. If there is an STR nearby, you can check to see if they are registered and operating legally. You can check online at www.paradisevalleyaz.gov/rental. If the STR is not registered, report the violation.

The operator will be notified and action will be taken to rectify the situation.

 

Also, on the town website you have a right to obtain the owner’s name and contact information, the physical address and land line (required) phone number, and the local contact and emergency contact name and address. here is a per day fine for operating an unlicensed STR.

 

  1. Excessive noise is a violation of town code (there are special exceptions for licensed special events which are not common). The town regulates noise by time of day. Between 7 a.m. and 10 p.m., noise cannot exceed 56 decibels.

 

Fifty-six decibels are equivalent to a coffee percolator or normal conversation.

 

Between 10 p.m. and 7 a.m., permissible noise levels are reduced to 45 decibels. Forty-five decibels are equivalent to the hum from a refrigerator.

 

You should report any noise violations to the town. A police officer will be dispatched to verify the violation take enforcement action. If two or more neighbors report a noise violation, a citation will likely be issued. In this instance, the neighbors reporting the noise must be willing to testify in a court proceeding.

 

  1. Enforcement action for code violations will be issued if STRs: (1) operate any adult-oriented business, performances, parties or activities; (2) have any public urination or defecation, nudity or sexual acts that are visible from another property or the street; (3) rent to sexual offender (owner must perform a background check on anyone who is staying at the STR; (4) Motor homes, campers, trailers, boats, buses or similar equipment allowed to be stored on the property may not be used for sleeping or habitation purposes.

 

Report any of these code violations. You should know that STRs must have a responsible party who responds within one hour when requested by police at the scene.

 

  1. STR owners or designee must meet guests in person upon their arrival, present copies of rules and regulations and keep records of compliance. If police are summoned for other violations, they will be checking for compliance. If you are aware of people “checking in” without an in-person attendant, report the violation.
  1. Trash and refuse can only be placed at the street beginning the evening before trash day pick-up and ending at sunset on trash day. Except for trash day, cans and refuse may not be visible from the street. Littering, exposed garbage or trash is a violation of town code.
  1. There are requirements for specific information to be included on any internet platform listing an STR for rental. One such requirement is that every on-line listing must display the Transaction Privilege Tax (“TPT”) number issued by the state. If you are aware of an on-line listing without displaying a TPT number, you should report that to the town.
  1. There are requirements of STRs for: (1) liability insurance; (2) smoke and carbon monoxide systems; (3) fire extinguishers; (4) fire safety and emergency evacuation map; (5) air filters; (6) local land line phone; (7) cleaning between bookings consistent with CDC guidelines; and (8) pest control. If police are summoned to the STR, they have the ability to check for compliance of town code with additional citations issued for violations.

It is important to know that any and all violations are cumulative with escalating series of fines. The town also has fines associated with events deemed an “Unruly Gathering.” Multiple violations increase fines and are counted separately.

 

Aggravating factors increase fines to the next higher level and may require the property owner to reimburse the town for any costs related to the police department. Ultimately, bad owners or operators are subject to loss of license by the state.

 

The town encourages all code violations to be reported. Working together, we can eliminate bad operators.

 

DeniseVDB.com www.AZMultipleListingService.com


Historically Low Levels of Homes for Sale: February 2022

(Published on - 2/3/2022 4:14:53 PM)

 

Inventory Falling DeniseVDB.comJanuary: Typically the month we have the highest increase of new homes put on the market for sale in the Metro-Phoenix Valley of the Sun... but not this year

The number of homes in the metro-Phoenix market for sale actually declined in most of the cities during the month. So is this a good time to buy a home here? Absolutely.

All of the experts agree that although we may not see 25-40% appreciation this year, we will most likely see around 20%. Especially in markets like the metro-Phoenix Valley, one of the fastest growing cities for the technology and healthcare sectors. Scroll down to read some of these opinions, as well as about the companies moving into the Valley. We don't have storms or snowdays to shut down our businesses or raise our insurance. And, although our homes are appreciating, our taxes and overall cost of living remains low. And believe it or not, some of us LOVE the summers here!

 

Do you want to buy at a time when housing is appreciating? Or when it is declining?

 

Phoenix metro listings declined Jan2022 DeniseVDB.com

Graph illustrating the number of listings in Phoenix (Single Family Homes priced $500,000 and above):

 

Cromford graph phoenixDeniseVDB.com market update

 

Housing Market Recap

The median price of a home in the Valley increased over $100,000. Sales on homes priced under $200,000 fell 40%, while there was an increase of 68% in homes over $1 Million. Watch this 3-minute recap of 2021.

 

MORE HOUSING MARKET INFORMATION BELOW

One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance.  Is Now a Good Time to Buy or Sell a Home? Denise van den Bossche has enjoyed a 36 year career in the Phoenix Metro Valley real estate. She can be reached at 602.980.0737.

 


Valley Events Attract Homebuyers & Job Seekers: January 2022

(Published on - 1/18/2022 8:00:18 PM)

It is PEAK SEASON IN SCOTTSDALE. The upcoming world-renown collector car auctions are followed by the PGA’s rowdiest and most popular week-long golf tournament. This is followed in February by some of the most well attended horse shows in the world. Families begin arriving in early March for spring break, filling resorts and vacation rentals to peak capacity. Lastly, the entire month of April is booked for Spring Training: 15 of the 30 MLB teams host in stadiums throughout the Valley. The Arizona Cardinals will not make it to the Super Bowl this year. However, next year they will be hosting it. Super Bowl LVII is scheduled for February 12, 2023 here in Cardinal Stadium!

Phoenix metro builds resilancy to negate any future housing market declines

Raining Jobs in Phoenix DeniseVDB.com

Semiconductor 'Mecca'

Another U.S. semiconductor company is considering Arizona for a fab plant that could have a capital investment of $40 billion and 10,000 jobs at full buildout. The project is on an accelerated timeline as the world reacts to the global chip shortage that is causing supply chain disruption.  According to the Phoenix Business Journal on January 4, the company has not been disclosed, but has been confirmed as a U.S. Company.

Phoenix metro is already considered a tech mecca which Forbes labeled last March as “Semiconductor Central.”

  • Intel broke ground last summer on two new chip factories in the Valley in a $20 billion expansion in Chandler, expected to create 3,000 jobs and 15,000 indirect jobs.  Intel is the largest American chipmaker. An Intel executive was featured on a panel for the Greater Phoenix Economic Council last fall, stating that the facility is on track and on schedule.
  • Taiwan Semiconductor Manufacturing in constructing its $12 billion semiconductor fab in north Phoenix. Taiwan is the world’s largest producer of computer chips. The announcement in 2021 was the largest foreign direct investment in Arizona’s history. The plant is expected to create a total of 4,296 jobs over 10 years. The first phase is estimated to have an economic impact of $382 billion over 20 years.
  • On January 11, EMD Electronics, a chemical supplier in the semiconductor industry, was featured in another Phoenix Business Journal article as intending to build a $28 million factory in Chandler. EMD expects to start operations at the end of 2022 and employ at least 100 people.

Solar

The January 6 Business Journal featured story on Switzerland-based manufacturing facility to employ 500 in Litchfield in the SW Phoenix Valley. Meyer Burger Technology AG will produce solar modules at Goodyear Airport 85, a new speculative building located near the Phoenix Goodyear Airport.

Biotech

ASU President Michael Crow was quoted in the January 6 edition that ASU’s partnership with the Mayo Clinic has been finalized. Crow stated that the resulting north Phoenix biotech corridor will be “one of the most important sites on the planet – literally on the planet.” This huge project could eventually brig tens of thousands of jobs to the area. Joan Koerber-Walker, president and CEO of the Arizona Bioindustry Association summarizes this exciting news as follows, “As Arizona’s biomedical sector continues to grow, there is a need to expand beyond the lab and engage with partners to move discoveries into development so that they can ultimately benefit patients.”

No, the Sky is Not Going to Fall

According to a recent Forbes article, quoting from the most well respected experts, we expect prices to rise another 2.9%, and sales to increase another 6.6%. Read the full article here

 

One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance.  Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate. 

 

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