Tags Articles tagged with "Pat Lairson"

Pat Lairson

by -
Pat Lairson

By Pat Lairson

The number of homes for sale dropped to 309 single-family dwellings in an HOA subdivision in August for Maricopa.

The average price-per-square-foot is $93.22 for homes currently listed. It is typical to enter into the fall season with a lower inventory as many people like to list their home in the fall and winter in Arizona. With this lower inventory, though, waiting to list could mean you are missing out on a sale now. The lowest-priced home for sale in a subdivision is listed at $89,900 and the highest listing is $435,000.

The market has not slowed this summer averaging about a 20-percent increase in sales over the same period last year. From July 1 to Aug. 8, 218 subdivision homes are under contract or have closed. The average closed sales price was $87.71 per square foot. There are several factors that could be contributing to this good, steady sales market.

Many people who could not buy because of short sales or foreclosures in the last three to five years now can. Also the loan program called Pathway to Purchase has assisted many buyers with their down payment and closing costs.

Pathway to Purchase will give a buyer 10 percent of their purchase price up to $20,000 toward their costs. Many people qualify with their guidelines, the main criterion for which is you have to own the home for five years. This is a grant program so when the funds are used, the program will go away. If you are thinking about buying, check into this program now!

New-home permits skyrocketed in 2016. Look at the number of permits issued since Jan. 1:

January       29
February    32
March         20
April-          33
May             57
June            85
July             40

Builders are buying vacant lots in subdivisions and filling in the gaps. Ask a local Realtor to take you to the new build sites. There are many details involved in buying a new home and having buyer representation really helps.

Maricopa still is one of the lowest-priced communities in the Greater Phoenix area. We still have quality, affordable housing. Our commercial development is increasing, too, with several projects breaking ground soon. You can follow all the commercial development coming to Maricopa on the city website.

We really are a city on the move. One of the best things we can do to ensure that Maricopa stays on the move is to shop local. That means buy your gas here and your food, go the movies here and use your local Maricopa Realtors to help you buy and sell your home.


Pat Lairson
520-280-5862
PatLairsonrealtor@gmail.com

Pat Lairson

By Pat Lairson

I was reminded again of why I chose to live in Maricopa last week. I took a buyer out to look at properties in a very nearby city. We were looking at homes under $250,000, and everything was a fixer-upper.

Some of the properties we viewed in that price range were townhomes with little to no backyard, and most required major updating. There really was no comparison in what you could get for $250,000 there versus in the city of Maricopa. Let’s face it, home prices are still what drives most people initially to live in Maricopa.

It is true, most people have to commute for work and there are not as many amenities here as in surrounding cities. Maricopa is a growing city, though. Mayor Christian Price came and spoke to our office meeting about some of the upcoming projects slated for our city. Local Realtors are often on the frontline in knowing about new projects, developments and growth.

The two most current projects are the railroad overpass and the new center going up next to Fry’s on John Wayne Parkway and Edison Road. There are some other great projects coming to Maricopa, but since they are not fully developed, we only were able to learn about them in part. Decreasing traffic on the 347, more commercial space and creating more jobs is a priority as part of the economic development for this city.

In this current real estate season, there appears to be more full-time primary residents buying homes. These are people living here year-round. The number of active listings in a subdivision is down to about 390 single family dwellings for sale. The average listed price is about $93 a square foot. Most home prices are always negotiated, so the average sold home price this past month closed at $86 per square foot. That is just about a 10 percent gain over last year’s average sold price.

The lowest price home in a subdivision at this writing is $110,000 and the highest priced home listed in a subdivision is $455,000. The rental market still has a low inventory of choices, making it difficult for those renters to find a new home once their lease is up. If you are a renter and have a credit score of 640, The Pathway to Purchase loan program is helping renters become buyers and when the funds run out, the program will be over.

Interest rates are still low and if you are interested in knowing what your home is worth to refinance or to list, please call a local Realtor.


Pat Lairson
520-280-5862
PatLairsonRealtor@gmail.com

by -
Pat Lairson

By Pat Lairson

The Maricopa real estate market is holding steady with 424 active single-family dwellings available for sale as we enter the month of April.

Almost 20 percent of those listings are in Province with 82 homes available for sale in this subdivision. About 240 homes are currently pending on the MLS since February, and we have about a 90-day supply of inventory at this rate.

These numbers indicate a strong real estate market in both listings and sales. The rental market is still hot, hot, hot, with only 31 homes available to rent in Maricopa. This low availability of homes to rent makes it very difficult for some renters to find a home.

If you are a renter that would like to own a home but don’t quite have enough saved to get into a home, there is help for you. There is a new government grant loan program called “The Pathway to Purchase” available for renters who are ready to purchase.

The city of Maricopa is one of the cities chosen to receive these funds.

The buyer can receive up to 10 percent of the purchase price of the home up to $20,000 for down payment and closing costs. The buyer needs a minimum of a 640 FICO score. There are some other criteria the buyer needs to meet, but it is a pretty simple and straightforward loan.

For anyone with a qualified FICO score, this could be your ticket into buying a home. When the grant money runs out this type of loan availability will be over. So if you are interested ask your Realtor to direct you to a lender that can help.

Pat Lairson is a Realtor with The Maricopa Real Estate Company.

PatLairsonRealtor@gmail.com
520-280-5862


This column appeared in the April edition of InMaricopa.

by -
Pat Lairson

By Pat Lairson

The Maricopa real estate market is jumping, with new listings coming on the market daily and houses going under contract, too.

There are currently 458 single-family dwellings listed for sale on the MLS in Maricopa. There are 258 homes under contract since Jan. 1 that are either pending or closed. The rental market is hot, too, with only 17 single-family dwellings available that are not vacation rentals.

You read that right.

If you are a renter you may have felt the heat from the lack of homes available and multiple applicants to contend with. You might want to look into buying now, even if your FICO score isn’t ready yet. Talking to a lender can get you on the right track.

Here is a question from a reader that I think is appropriate for people who want to sell or buy right now.

What costs are involved and who pays for what? What are the “hidden” costs? – Toni Marie McDonald

In buying or selling a home, there are certain costs for a seller and certain costs for a buyer, and then some of those costs can be negotiated.

A seller pays Realtors’ commissions, title insurance policy for the buyer in order to ensure a clean title, sellers’ escrow costs and the HOA disclosure fee. This usually totals about 8 percent of the sales price of the home.

Buyers pay for their own home inspection (approximately $350) and their appraisal ($450). Buyers pay for their own loan down payment, which can be between 0 and 20 percent. A buyer’s closing cost is about 3 percent of the purchase price of the home if they are getting a loan. Some costs can be negotiated back to either the buyer or the seller.

HOA fees vary per subdivision and although the seller pays the HOA disclosure fee, there could be other HOA fees that are negotiable for either the buyer or seller to pay.

If a buyer is trying to pay as little out of pocket as possible to get into a home, the buyer can ask the seller to pay they’re closing costs. If this is requested then usually the buyer writes close to a full price offer or more and the seller still gets the net they need.

A home warranty policy is another negotiable item and can be paid by either party. Every contract is different. There are no hidden costs in a real estate transaction. All costs are documented in the purchase contract paperwork and the title company, who acts as a neutral third party, will give the seller and buyer a written financial disclosure with all costs to review before closing.

If you have a real estate question, please email it in to me.

Pat Lairson is a Realtor with The Maricopa Real Estate Company.
PatLairsonRealtor@gmail.com
520-280-5862

Pat Lairson

By Pat Lairson

Here is a quick view of how we closed out the year in 2015 with a glimpse of some history so you can clearly see a trend of home prices increasing in Maricopa. These numbers reflect resale and spec homes for single-family dwellings listed on the Multiple Listing Service up to Dec. 22 of each year.

There were more investors in 2013 buying distressed properties and resale homes. I believe this is why there is an increased amount of closed sales that year. You can see we have held steady this year in both sales and price increase with an average price increase just under 10 percent from last year.

20160106084301

2016 outlook
Consumer confidence is one factor that drives the market. I think consumers are clear that it is a good time to buy a home. The Federal Reserve did raise short-term interest rates. This rate, which is used when banks lend money to each other overnight, was held near zero to support economic recovery the last several years.

The Feds upped the target rate range a quarter point, to between 0.25 and 0.5 percent. Interest rates are still at a historic low, which means it is really cheap to borrow money.

Even with a slight rate hike in 2016, for the average buyer this should not have a negative effect on their ability to purchase a home. More new-home builders are coming to the Valley in general. More builders will be coming to Maricopa, too, or expanding the territory they are currently building in.

We have about a four-month supply of inventory. Supply and demand, interest rates and jobs are all factors that affect the real estate market.

With our commercial growth, more jobs are and will be added for Maricopa residents. Overall, 2016 should be a great year for real estate.

Pat Lairson is a Realtor with Coldwell Banker Residential Brokerage.

20160106082954

by -
Pat Lairson

By Pat Lairson

Here is a quick view of how we closed out the year in 2015 with a glimpse of some history so you can clearly see a trend of home prices increasing in Maricopa. These numbers reflect resale and spec homes for single-family dwellings listed on the Multiple Listing Service up to Dec. 22 of each year.

There were more investors in 2013 buying distressed properties and resale homes. I believe this is why there is an increased amount of closed sales that year. You can see we have held steady this year in both sales and price increase with an average price increase just under 10 percent from last year.

20160106084301

2016 outlook
Consumer confidence is one factor that drives the market. I think consumers are clear that it is a good time to buy a home. The Federal Reserve did raise short-term interest rates. This rate, which is used when banks lend money to each other overnight, was held near zero to support economic recovery the last several years.

The Feds upped the target rate range a quarter point, to between 0.25 and 0.5 percent. Interest rates are still at a historic low, which means it is really cheap to borrow money.

Even with a slight rate hike in 2016, for the average buyer this should not have a negative effect on their ability to purchase a home. More new-home builders are coming to the Valley in general. More builders will be coming to Maricopa, too, or expanding the territory they are currently building in.

We have about a four-month supply of inventory. Supply and demand, interest rates and jobs are all factors that affect the real estate market.

With our commercial growth, more jobs are and will be added for Maricopa residents. Overall, 2016 should be a great year for real estate.

Pat Lairson is a Realtor with Coldwell Banker Residential Brokerage.

20160106082954

by -
Generally, the holiday season brings a slower real estate market to Maricopa.

Tis’ the season for falling temperatures and raising holiday decorations, but it is also a time for families to settle in and the local real estate market to slow.

We asked a few local Realtors how the holiday season affects residential real estate in Maricopa. Each looked at the situation from a different perspective, but all came to the same conclusion.

Pat Lairson
Pat Lairson

Pat Lairson, Coldwell Banker Residential Mortgage

“Most people either want to move before Christmas of after the first of the year. I have noticed a slowing down the last two weeks of [December]. Because of this, Realtors get a little more time to enjoy the holidays with their families.

“On another note, if you want a tax write-off for 2015, you must close by Dec. 31 and some people try to complete transactions by then.”

Dayv Morgan, HomeSmart Success

Dayv Morgan
Dayv Morgan

“The holiday season tends to slow the market down in Maricopa. Despite the cooler weather there is really not a big frenzy of snowbirds coming to buy during November and December, as some might suppose. Most people would rather be settled for Thanksgiving and Christmas than packing boxes or unloading a moving truck, and the holidays can be overwhelming enough without the added costs and stress that go into buying and selling a home.

“Typically, after the New Year holiday, we start to see demand increase again. For the last 12 months, November and December were the slowest months for getting homes under contract. The combined total of pended listing for November and December of 2014 (85 and 87, respectively) is still less than the 174 listings that were pended in March of 2015.”

Terry Sperry
Terry Sperry

Terry Sperry, Coldwell Banker Residential Mortgage

“Even though it’s a busy time of year full of holiday activities, as a general rule it seems there are fewer buyers out looking at that time, but the buyers who are looking are often seriously looking to buy. With our winter visitors, though, they are always looking while they’re here – especially since they may not be visiting family over the holidays.

“If you are a seller, homes conservatively dressed up for the holidays give a festive, inviting look to your home and put the potential buyer in a homey mood.”

This story was published in the November issue of InMaricopa News.

Pat Lairson

By Pat Lairson

It is an exciting time in real estate for the city of Maricopa. Overall the market is moving and profitable for most people who want to sell and also a good investment for those who want to buy. Let me give you an overall market view and then talk to you about some homework you should do if you are thinking about listing your home for sale.

There are only 40 active listings for rent. This is an all-time low for rentals available in Maricopa, which has caused an increase in monthly rental prices along with fewer homes to choose from to rent.

There are approximately 325 active single-family homes for sale in homeowners association subdivisions in Maricopa. The lowest-priced home is listed for $99,500 and the highest priced at $459,000. From June 1 to current, there are approximately 264 homes under contract either pending, closed or about to close. The average time a home is on the market has gone down to about 82 days in Maricopa.

So you can see the market is moving.

If you are thinking of selling your home this is a great time to do so. Do some homework first, though, before you sign a contract.

1. Get a market analysis done on your home. Realtors will do this for free and send you a comparative analysis on like homes in your subdivision so you can see the range of what your model will sell for. Your home can’t be priced accurately though until a Realtor actually visits your home.

2. Once you go over the analysis and if you want to list your home, go look at a couple of homes in the price range you think your home is valued at. This will give you some ideas on how to present your home and even price it accurately. Homes painted in neutral colors, de-cluttered and smoke- and pet-smell-free sell much faster.

3. There are costs involved in selling your home. Your Realtor can provide you with a cost sheet so you know exactly what you will net.

4. Make any repairs to your home before you list your home. Most buyers will hire an inspector. A report that comes back with a long list of repairs can scare a buyer off. As a seller, often you know of some items that need to be fixed in your home. Fix these items before you list. You can also get a free termite inspection before you list. Also get an HVAC tune-up and keep the receipt to give to your buyer, patch any outdoor drywall cracks and touch up paint if needed.

5. Find out how your home will be marketed. The Realtor you choose will tell you what they plan to do to sell your home and how they will follow up with potential buyers. They will also advise you on how to prepare your home the best way possible to sell it quickly.

Pat Lairson is a Realtor with Coldwell Banker Residential Brokerage.