You may have seen the information on social media, it was probably a post from a Realtor or a lender, about what 2017 is going to look like for the Phoenix real estate market.
We are projected to be the top real estate market in the country. Is this trend going to translate to Ahwatukee homes? If you are a buyer or seller here, you may be wondering how this is going to affect your 2017 plans.
Let’s start with where we are now. Coming off of an election year, and the typical seasonal slowdown during the holidays, we have had a drop in median price and the number of sales over the past 30 days across all 3 Ahwatukee zip codes.
This is somewhat expected, so no surprises here. What tends to happen now is the boomerang effect: Those who waited in 2016 will be coming forward in 2017, creating the higher demand.
Club West’s appreciation future is a wild card, but it looks brighter if the homeowners work out a plan to purchase the golf course. I went to the meeting held at Mountain Park Community Church and there was a nice turnout. But considering there are 2559 homes in Club West, more interest would have been better.
The goal of Save Club West is to raise $4 million for the purchase, updating and private management of the golf course. They outlined one of three ways this is possible. If you as a homeowner chose to invest in the purchase, your investment will be transferable to future buyers of your property.
That could lead to a more desirable resale for a homeowner. Perks could be free golf, discounted hospitality and possibly others to be determined. Jim Lindstrom has the business plan. I highly recommend you email him for a copy. His email is email@example.com.
Regardless of where you live in Ahwatukee, buyers may want to start thinking sooner rather than later to look at properties. We have been, and will continue to stay, in a sellers market, but come March, April and May, we usually see more buyers out there.
Be ready to go when you find a property you want. This means have your lending conversations now and get your prequalification letter.
The Fed raised rates and we are looking at increases over the next year. But we are ok with this because they are still historically low. Can anyone remember the 18-percent interest rate days? Let’s be thankful we are under 5 percent.
If you are a seller, get your house ready right after the holidays. What you do next will depend on whether you have to buy before you sell.
Your house may sell faster than you anticipate. You can ask for a long close or a lease back possibly. If you don’t have a plan on where to go after you move, start thinking about that.
Coming into our winter-visitor and spring-training season, you will find there is a shortage of affordable short-term living situations available. If they are available, they will be very pricey. Just keep that in mind when you are making plans.
I hope you have a wonderful holiday season and that all your real estate goals for 2017 work out better than you planned.
-Christie Ellis, GRI, CRS, ABR, is a Realtor with United Brokers Group, an Ahwatukee real estate specialist and Club West resident. Reach her at 480-201-3575 or Christie@ChristieEllisHomes.com.