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Real Estate

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Dayv Morgan
Dayv Morgan

By Dayv Morgan

There is a stigma attached to being on the “wrong side” of the tracks, and that has played out in Maricopa for years.

When I would ask a buyer what area of town they were interested in, they would often say, “I don’t want to be south of the railroad tracks.”  I have lived on the south side since coming to Maricopa in 2006, and when I would tell people where I lived, they would say, “Oh, that’s too bad.”

That sentiment affected the price of homes, resulting in prices that were about 10% less than homes in northern Maricopa.

But times are changing. Homebuyers have good reason to give the south side another look.

After the real estate market hit its low point in 2010, development on the south side began to turn some heads. The Ak-Chin opened the UltraStar Multi-tainment Center in 2012. Then the City of Maricopa opened Copper Sky in 2014.

With a high school, middle school and elementary school already in place, and entertainment, city festivals, recreation, swimming and sports tournaments within easy distance, homebuying has become more enticing.

The biggest accomplishment has been the completion of the overpass across the tracks. That eliminated traffic delays caused by trains and also widened the four lanes to six lanes to improve the flow of commuter traffic.

The City plans more commercial development at Copper Sky.  Homebuilders like Lennar, Richmond American and K Hovnanian have returned to Alterra, Palo Brea and Maricopa Meadows, identifying the south side as the place to be.

Besides the amenities unique to the south side, Richmond American is the only builder in the city offering homes with attached RV garages – just another consideration for homebuyers.

Where improved lots are available for construction, only Santa Rosa Crossing (east of Desert Cedars) and areas in the flood plain are not seeing current homebuilding.

But there is still a lot of room for new subdivisions within the city boundaries south of the tracks, and home values on the south side are now about equal to those on the north side, and may even exceed them in the near future.

Soon homebuyers may reconsider which side of the tracks in Maricopa is the “wrong side.”


Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.
480-251-4231
DayvMorgan@gmail.com

 

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Photo by Kyle Norby

The least expensive home sold in Maricopa Dec. 16-Jan. 15 was in an older neighborhood of Rancho El Dorado. Its selling price was nearly 13 percent less than its previous, pre-Recession sale price in 2006. A three-bedroom home with all the basics, it touts a new paint job inside and a grass backyard that needs some TLC.

  1. 42611 W. Colby Drive, Rancho El Dorado

Sold: Dec. 22
Purchase price: $174,200
Square footage: 1,093
Price per square foot: $159.38
Days on market: 115
Builder: Continental
Year built: 2003
Bedrooms: 3
Bathrooms: 2
Community: Rancho El Dorado
Features: Extended patio, two-car garage with painted floor
Listing agent: James Mickelson, HomeSmart Success
Selling agent: Pamm Seago-Peterlin, Century 21 Seago

  1. 36480 W. El Greco St., Tortosa ………………………………. $189,000
  2. 42609 W. Lucera Court, Glennwilde ………………………. $190,000
  3. 42068 W. Hillman Drive, Rancho El Dorado …………… $196,000
  4. 37118 W. Mondragone Lane, Sorrento …………………. $196,000

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Photo by Kyle Norby

The most expensive home sold in Maricopa Dec. 16-Jan. 15 was a four-bedroom, two-story Villages home with a pool and a putting green. Its price rose 150% since the last time it sold in 2011. Much of that was due to many interior upgrades and the finely landscaped backyard. The home sold for $6,000 above its list price.

  1. 43228 W. Kramer Lane, The Villages

Sold: Jan. 1
Purchase price: $325,000
Square footage: 2,450
Price per square foot: $132.65
Days on market: 53
Builder: Hacienda
Year built: 2004
Bedrooms: 4
Bathrooms: 2.5
Community: The Villages at Rancho El Dorado
Features: Lots of open spaces, storage and counter space, stainless-steel appliances, three-car garage, sparkling pool with jetted tub, covered patios, gazebo, upstairs loft
Listing agent: Christopher Michael Haller, HomeSmart
Selling agent: James Mitchell, James Mitchell Real Estate

  1. 44487 W. Redrock Road, Cobblestone Farms ……………………………. $318,000
  2. 19569 N. Ventana Lane, Glennwilde …………………………………………. $312,500
  3. 45348 W. Windrose Drive, Alterra North ………………………………….. $310,000
  4. 43226 W. Maricopa Ave., Senita ……………………………………………….. $305,000

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Photo by Kyle Norby

 

The least expensive home sold in Maricopa Nov. 15-Dec. 15 was a one-story, three-bedroom home in Desert Cedars. It previously served as a rental property on Cypress Lane. On the market for two months, it sold for its asking price.

  1. 43973 W. Cypress Lane, Desert Cedars

Sold: Nov. 27
Purchase price: $180,000
Square footage: 1,455
Price per square foot: $123.71
Days on market: 58
Builder: Lennar
Year built: 2005
Bedrooms: 3
Bathrooms: 2
Community: Desert Cedars
Features: New carpet, covered patio, eat-in kitchen with breakfast bar, near Copper Sky
Listing Agent: Jill Comfort, Comfort Realty
Selling Agent: Brandy Karczewski, United Brokers Group

  1. 42442 W. Mira St., Santa Rosa Springs ……………………… $181,000
  2. 42332 W. Michaels Drive, Rancho El Dorado …………….. $184,800
  3. 43735 W. Carey Drive, Rancho El Dorado …………………. $185,000
  4. 42332 W. Colby Drive, Rancho El Dorado …………………. $186,000

This item appears in the January issue of InMaricopa.

Photo by Kyle Norby

GETTING TO KNOW BRIAN FRENCH
Hometown: Omaha, Nebraska
Maricopan since: 2010
Occupation: Realtor/Manager and team leader for My Home Group
Family: Wife Kwim, son Kyler, 8, and daughter, Kylisse, 20 months
Cars: 2016 Audi
Hobbies: Spending time with family and vacation sports
Pet peeve: Eating food in the bedroom
Dream vacation: World Cup
Like most about Maricopa: All the nice people and small town feel
Like least about Maricopa: No complaints here

Realtor and family man Brian French has had a lot of changes in his busy life. He has retired from coaching soccer after 17 years, married and even departed the Maricopa Real Estate Company. French is now focused on opening his own brokerage in January 2020 and is determined as ever to continue serving his clients in the Maricopa community any way he can.

Now working as a team leader and manager for the fastest growing residential real estate brokerage in the country, My Home Group, French made it clear his goals and intentions are still the same.

“We help people buy, sell and invest in homes,” he said. “I love helping people out, I love taking care of people. I’m also a super-honest guy. I don’t sugarcoat anything. If your house smells, I’m gonna tell you it smells.”

French is excited to bring the My Home Group brand to Maricopa with his office going in the space that used to be a counseling and treatment center in The Shops at Maricopa business complex.

“A lot of these places, they don’t tell their agents how to succeed or try to help them,” French explained. “I’ll help them, and My Home Group will help them. We don’t hide anything we want people to succeed and that’s what I like about it. I’ve joined other brokerages and they don’t tell you anything.”

French’s office also pays for training classes in many sections of real estate to maintain a well-trained team of agents.

Brian has recently gotten married and has grown his family of one child to two.

“I’m remarried to my wife Kwin. She is Filipina. She’s a teacher at a high school in Casa Grande,” French said with a smile. They now have a 20-month-old daughter together named Kylisse.

Brian French with wife Kwin, son Kyler and daughter Kylisse. Submitted photo

Brian and Kwin plan to have a bigger wedding in the Philippines over the summer and have already had a vision of more children in the future.

Brian cited that some of his success and love for the city of Maricopa comes from his roots in Omaha.

“I’m from Nebraska, so small-town people are super-nice there, and Maricopa reminds me of Nebraska.” French said. “It’s one of the safest cities in Arizona and probably one of the best for families.”

Maricopans that have been clients of Brian in the past have come to call him a friend. A past home seller and buyer, Chandra Gilbert, recalled her emotional time working with French.

“My husband passed away while we were selling our home in Rancho. I haven’t talked about it much,” Gilbert said. “Brian is dear to my heart. He was able to sell my home and get me in a house in Homestead that was the perfect fit for me.”

Chandra said she is thankful to have Brian in her life and will never forget how he helped her through tragedy. She is one of many clients French has kept relationships with well beyond the paperwork being signed.

With Maricopa’s growth expected to double in the next 10 years, there is no shortage of work in the real estate business. Working in sales for over 20 years and real estate for five, French is still learning every day. He said if you are not listening and willing to try new things, you are not doing your best.

“I listen to everybody and anybody on my team.” French said. “I don’t ever worry about what other people are doing; I just worry about myself and my team.”

French reflected on how he believed the real estate industry as a whole should work.

“If you’re not making any money, who cares?” he said. “Don’t worry about the money. If you just help people, the money will come,” French said.

Brian French’s My Home Group office is slated to open Jan. 25.

623-451-1916
thebrianfrenchgroup@gmail.com


This story appears in the January issue of InMaricopa.

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Photo by Kyle Norby

The most expensive home sold in Maricopa Nov. 16-Dec. 15 is a two-story, five-bedroom home with a private pool and a putting green. On the market several times since 2006, it sold for 48% above its previous selling price in 2015. On market for three months, it sold for its asking price.

  1. 44557 W. Granite Drive, Cobblestone Farms

Sold: Dec. 13
Purchase price: $369,900
Square footage: 3,721
Price per square foot: $99.41
Days on market: 94
Builder: Fulton Homes
Year built: 2005
Bedrooms: 5
Bathrooms: 3
Community: Cobblestone Farms
Features: Granite countertops, soaking tub, three-car garage plus three-car parking slab, heated pool, extended patio
Listing Agent: Lauren Rosin, West USA Realty
Selling Agent: Davee Jacobs, Long Realty Uptown

  1. 22693 N. Sunset Drive, Cobblestone Farms ……………………………. $345,000
  2. 21550 N. Backus Drive, Rancho El Dorado ………………………………. $335,000
  3. 40615 W. Dennis Lane, Smith Farms ………………………………………. $324,000
  4. 41941 W. Monteverde Court, Glennwilde ……………………………….. $322,000

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Photo by Kyle Norby

The least expensive home sold in the city of Maricopa Oct. 16-Nov. 15 was a three-bedroom home in Sorrento. Previously a rental, it was on the market just over a month before selling for its historically highest price, though that was still the city’s most affordable.

  1. 37137 W. Amalfi Ave., Sorrento

Sold: Nov. 15
Purchase price: $169,000
Square footage: 1,370
Price per square foot: $123.35
Days on market: 39
Builder: Unknown
Year built: 2008
Bedrooms: 3
Bathrooms: 2
Community: Sorrento
Features: New paint and carpet, gravel landscaping, two-car garage

  1. 36781 W. Mondragone Lane, Sorrento ………………………… $170,000
  2. 46024 W. Long Way, Maricopa Meadows ……………….. $175,000
  3. 46054 W. Starlight Drive, Maricopa Meadows ………… $175,000
  4. 21826 N. Braden Road, Rancho El Dorado ………………. $177,000

This item appears in the December issue of InMaricopa.

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Dayv Morgan
Dayv Morgan

By Dayv Morgan

Trying to sell your home in December has its challenges, especially if you are listing around the Christmas season. If you can, it is best to wait until spring, and here’s why.

Real estate is in low demand. In December 2018, only 127 homes went under contract, the lowest of any month in the last year and about half the 220 homes that went under contract in March 2019.

Holiday décor can be a distraction and will look awkward in marketing photos if the house remains on the market after December. Buyers will still be viewing pictures of your Christmas tree in January and February, reminding them that it’s been on the market for a long time.

To give potential buyers a good view of your floor plan and allow them to imagine what it will look like year-round, you should go with minimal or no decorating, and that does not make for a very cheery Christmas for you and your family.

Even without holiday decorations, the outside of the house may not photograph at its best. Deciduous trees will be bare and look dead, and your landscaping will likely look a lot less enticing than it will in March. Countering that takes extra time, money and effort.

The days get dark earlier in December, limiting the number of hours available to display your home in full sunlight.

Showings can be a nuisance when you have guests for the holidays, since you typically will leave to accommodate potential buyers.

Holiday can be busy and stressful enough without the added expenses for moving, repairs and demands of packing up your house by a certain date.

If you’ve already listed your home late in the year, you can take your listing temporarily off the market until after New Year’s, and the “days on market” will not increase during this time.

 

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.

480-251-4231
DayvMorgan@gmail.com


This column appears in the December issue of InMaricopa.

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Photo by Kyle Norby

The most expensive home sold in the city of Maricopa Oct. 16-Nov. 15 was a four-bedroom hacienda overlooking the fourth hole of The Duke at Rancho El Dorado. The property, which is on a 10,000-square-foot lot, had only one owner since it was built in 2003. It took only a month to sell at $10,000 under its initial asking price.

  1. 43376 W. Desert Fairways Drive, Rancho El Dorado

Sold: Nov. 8
Purchase price: $340,000
Square footage: 2,851
Price per square foot: $119.26
Days on market: 30
Builder: Hacienda
Year built: 2003
Bedrooms: 4
Bathrooms: 3
Community: Rancho El Dorado
Features: 3-car garage, backyard spa, Xeriscaping, game room, RV gate, citrus trees

  1. 42488 W. Venture Road, Rancho El Dorado ………………………….. $319,000
  2. 42793 W. Whispering Wind Lane, Province ………………………….. $315,000
  3. 21774 N. Sunset Drive, Cobblestone Farms ………………………….. $305,000
  4. 21688 N. Sunset Drive, Cobblestone Farms ………………………….. $295,000

This item appears in the December issue of InMaricopa.

By Brian Petersheim

Finding a good property to rent in Maricopa is still tough but becoming much easier than it was just three months ago. There are almost twice as many rentals on the market today than there were during the summer.

To put the supply in perspective,  Maricopa currently has about 18,500 homes currently, but only 0.12% are for rent on the Arizona Regional MLS (plus 12 furnished vacation rentals).

The rental homes are coming on the market, and may have applicants within the first few days, and are rented quickly.

In June: 96.3% of the homes were rented within the first 30 days.

Now: 81.2% of the homes were rented within the first 30 days.

There were 85 homes rented in the past three months in Maricopa. The average monthly rent was $1,360 for an approximately 2,000-square-foot home.

CURRENT LISTINGS
Total number of homes for rent   23 (+9 from June)
Rentals allowing pets                      19 (+14 from June)
Rentals with pools                            1   (+1 from June)
Short term/seasonal rentals          12 (+4 from June)

Monthly lease prices of 23 rental homes on the market:
$1,151-1,200—-0
$1,201-1,250—-0
$1,251-1,300—-4
$1,301-1,350—-3
$1,351-1,400—-5
$1,401-1,500—-5
$1,501-1,600—-2
$1,600+        —-4

The rental market is tight but loosening up. Prices have stayed the same since the summer, but inventory has increased significantly.

A prospective tenant needs to put their best foot forward when applying to rent a home. These are some tips and tricks to help a tenant get into the rental home of their dreams and set them above the competition.

  1. Any resident over 18 will likely have to submit to a credit/criminal check. Know in advance what those reports will show, and have documentation prepared accordingly.
  2. Attach reference letter from boss or previous landlord to application.
  3. Check with property manager/landlord to see if there are any applicants already. No sense in spending money on application fees if another tenant is already being considered.
  4. Any Realtor can help you with rental listings.
  5. If you are in need of a washer/dryer/refrigerator and the rental doesn’t have one, ask if one can be supplied. Worst case they say “no,” best case they install one.

If you are interested in purchasing a home for an investment property, please reach out.

Brian Petersheim-Realtor
Call/text 602-206-9644
BrianPetersheim@gmail.com

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Photo by Kyle Norby

The least expensive home sold in Maricopa Sept. 16-Oct. 15 was a former rental that was on the market just three days in Tortosa. The 12-year-old home is in an area undergoing lots of residential construction.

  1. 36558 W. Montserrat St., Tortosa

Sold: Sept. 16
Purchase price: $172,000
Square footage: 1,220
Price per square foot: $140.98
Days on market: 3
Builder: Elite Homes
Year built: 2007
Bedrooms: 3
Bathrooms: 2
Community: Tortosa
Features: Split floor plan, washer/dryer

  1. 21463, N. Keystone Dr., Rancho El Dorado …………………………………….. $174,000
  2. 45777 W. Dirk St., Maricopa Meadows …………………………………………… $174,000
  3. 35951 W. Costa Blanca Drive, Tortosa ………………………………………………$174,999
  4. 42244 W. Calle St., Santa Rosa Springs ……………………………………………..$178,000

This item appears in the November issue of InMaricopa.

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Photo by Kyle Norby

The most expensive home sold in Maricopa Sept. 16-Oct. 15 is a five-bedroom house next to a greenway in Maricopa Meadows. It includes an extensively landscaped backyard with a pool and spa, which helped add market value that saw a 95% increase since it last sold in 2010. The property is a comeback kid, having once sold for $84,000 in the recession.

  1. 17798 N. Kari Lane, Maricopa Meadows

Sold: Oct. 7
Purchase price: $340,000
Square footage: 3,318
Price per square foot: $102.47
Days on market: 80
Builder: Elite Homes
Year built: 2006
Bedrooms: 5
Bathrooms: 3.5
Community: Maricopa Meadows
Features: 3-car garage, balcony, private pool, water softener, loft, upstairs laundry

  1. 42488 W. Venture Road, Rancho El Dorado ……………………………$325,000
  2. 21923 N. Van Loo Drive, Rancho El Dorado …………………………….$317,500
  3. 40684 W. Parkhill Drive, The Lakes at Rancho El Dorado ………..$300,000
  4. 43223 W. Lindgren Drive, The Villages at Rancho El Dorado …..$297,000

This item appears in the November issue of InMaricopa.

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Dayv Morgan
Dayv Morgan

By Dayv Morgan

At about 50,000 people, the city of Maricopa is significantly smaller than Maricopa County, which boasts a population of 4.3 million.

Despite our small-town nature, Maricopa almost doubles the ratio of VA home loans over the Maricopa County housing market.

Between January and September, VA loans made up 13.4% of the loans for closed home sales in the city. Maricopa County’s VA loan figure was 6.9% over the same period. In Pinal County, it was 11.1%.

Because VA home loans require veterans to occupy the homes they purchase, it could safely be assumed we have a very patriotic city with almost twice as many veterans and active-duty servicemembers purchasing homes per capita as the Phoenix area.

There are many benefits for those who qualify for a VA loan. According to the U.S. Department of Veterans Affairs, generally there is often no down payment unless required by the lender, no private mortgage insurance, no credit score requirement and VA loans can also be used to refinance an existing home.

The new maximum loan amount for VA loans is $484,350, raised from $453,100 last year and significantly higher than the FHA loan limit of $314,827.

Veterans and active duty servicemembers who meet certain length-of-service requirements are usually eligible for a VA loan, along with other certain groups of individuals. To learn if you are eligible, call the VA at 1-877-827-3702.

 

Dayv Morgan, HomeSmart Success
480-251-4231
DayvMorgan@gmail.com


This column appears in the November issue of InMaricopa.

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Brian Petersheim

By Brian Petersheim

Brian Petersheim

These are the numbers for the city of Maricopa for the month of October 2019. These numbers only focus on the homes in HOA’ed subdivisions, since the non-HOA areas are so diverse.

  • 329 Homes currently available for sale, not under contract, looking for offers
  • 238 Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc)

In October, 28 of the sold homes had a built-in private pool.

Average sale price was $231,923
Average price per square foot sold $118
Average days on the market was 63

Least expensive home sold – $170,000 – Notes: 3-bed/2-bath 1,117 sqft in Rancho El Dorado, 21870 N. Braden
Most expensive home sold – $368,799 – Notes: 6-bed/4-bath 3,052 sqft upgraded new build (Fulton Homes) in Glennwilde with view fencing, 18976 N. Jameson

  • 6 homes sold in Province (active adult community)
  • 40 of the sold homes were new build/spec homes

Number of bedrooms – 183 sold homes

  • 2 bed – 5
  • 3 bed – 73
  • 4 bed – 80
  • 5 bed – 22
  • 6 bed – 3
  • 7+ bed – 0

Garage parking: of the 183 sold

  • 2 car – 159
  • 3 car – 23
  • 4 car – 1

Price ranges of the 183 sold:
$150,001-$175,000 —- 5
$175,001-$200,000 —- 36
$200,001-$225,000 —- 58
$225,001-$250,000 —- 38
$251,001-$275,000 —- 26
$275,001-$300,000 —-10
$300,001-$350,000 —-7
$350,001-$400,000 —-3

Bottom line: The market still remains with a “slight seller’s advantage.” Inventory and prices have remained static, with a slight shortage of homes for sale, so the market will continue staying level until the end of the year. Winter months in Arizona are generally the slowest real estate months of the year as many buyers and sellers choose not to move during the holiday season.

Any questions about value or the market, please reach out to me.


Brian Petersheim
HomeSmart Realty
602-206-9644
MaricopaNewHomes.Net
CanadiansInArizona.net

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Housing developers are creating homes with separate living spaces for multi-generational families under one roof.

By Dayv Morgan

Dayv Morgan

While the standard homebuyer may be looking for a three or four-bedroom for their nuclear family, American culture in the 21st century is turning more and more toward multigenerational housing.

Whether it’s grandparents moving in, adult children coming back home or other relatives needing temporary living space, the need to accommodate other adults who need reasonable independence and privacy has become a trend.

  1. Hovnanian Homes estimates one in five Americans is currently living in a multigenerational arrangement, “a 30 percent increase since 2007.”

Because of this rise in demand, more builders are designing with multigenerational living in mind, including two in Maricopa. Lennar, for instance, is building in Alterra and has what it calls “two homes under one roof.” Going beyond the casitas that are often just detached bedroom/bathroom setups, the new design has a bedroom, living room, bathroom, kitchenette, and laundry that are a suite of the main house but can be closed off for privacy.

The K. Hovnanian floorplan, which is currently being sold in Maricopa Meadows, follows the same concept and is called “Extra Suite.”

When buying a home, it is wise to think into the future about what your extended family’s needs will be in five or 10 years. If your house does not have a built-in suite, are there existing living spaces that can be converted to have a second kitchen, maybe a second laundry, just in case?

In some areas of the country it is common to convert garage space into living quarters, but this is not recommended in Maricopa. Almost every home is on a post-tension slab, making it difficult to put in extra plumbing after the home is built. You also don’t want to lose parking and storage space, as that will hurt resale value.

Even if you don’t have a current need for a multi-gen home, having a private suite with a private entry opens up the opportunity to rent a room in your house. With the lowest home-rental rates in Maricopa around $1,200 per month now, a single person would find a $500-$600 suite a sweet deal.

The reasons for bringing adult generations under one roof can range from economic pressures to aging or special needs. And while no one anticipates their family having an accident or health issues impacting the way they live in their home, it has become the reality for many, and it’s good to consider such possibilities when buying or updating a home.

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.

 

480-251-4231
DayvMorgan@gmail.com


This column appears in the October issue of InMaricopa.

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Photo by Kyle Norby

The most expensive home sold in Maricopa from Aug. 16 through Sept. 15 is a two-story home overlooking the 10th hole of The Duke at Rancho El Dorado. With lots of aesthetic additions, it sold for just $200 under its list price. The property is now about $78,000 shy of its 2005 price.

  1. 42359 W. Little Drive, Rancho El Dorado

Sold: Sept. 11
Purchase price: $342,300
Square footage: 2,997
Price per square foot: $114.21
Days on market: 154
Builder: DR Horton
Year built: 2005
Bedrooms: 5
Bathrooms: 3
Community: Rancho El Dorado
Features: Two levels, three-car garage, private pool, golf-course views, loft, RV gate, slab parking for three additional vehicles
Listing agent: Robyn J. Bernzott, Re/Max Fine Properties
Selling agent: Carrie Pagnussat, HomeSmart

  1. 21992 N. Dietz Drive, Rancho El Dorado …………………………..$325,100
  2. 20224 N. Peppermint Drive, Province ………………………………$325,000
  3. 44558 W. Sedona Trail, Cobblestone Farms ……………………..$320,000
  4. 41032 W. Walker Way, Homestead North …………………………$320,000

This item appears in the October issue of InMaricopa.

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By Brian Petersheim

Brian Petersheim

Maricopa continues to lead the way in real estate value in the Phoenix Metropolitan area.

I wanted to compare apples to apples as much as possible, so the numbers and graphs only refer to single-family, detached homes. Condos, townhouses, duplexes etc. have been removed from the statistics because not all of the cities have the same ratios of those dwellings.

The data is broken down in 3 categories.

  1. Median listing price by city
  2. Average price per square foot by city
  3. Average time on the market by city

When it comes to most affordable or lowest listing price of the 19 cities, Casa Grande was the least expensive at $216,000 and Maricopa came in second at $235,000. Other notable list prices are Chandler and Gilbert both around $415,000 and Paradise Valley (not graphed) at $2.2 million.

Price per square foot is another area Maricopa excelled in. We had the best price per square foot in the Phoenix Metro area of the 19 cities compiled. Price per square foot in Maricopa was $114, with the closest to us being Casa Grande at $120. Chandler and Gilbert were both in the $170-180 range while Paradise Valley (not graphed) topped $432 per square foot.

Days on the Market refers to the number of days the average home is listed for sale before going fully under contract to purchase. Maricopa ranked about dead center in the averages of the cities at 70 days. Avondale was low at 52 days, while the luxury homes in Fountain Hills, Scottsdale and Cave Creek were well over 100 days.

In conclusion, after the real estate bubble, the bursting and the rebuilding, Maricopa is still one of the best values in in the Valley. To the people out there, whether first-time homebuyers, snowbirds or investors, when considering a home in a great city, for a great value, think Maricopa.

The statistics are median or averages; valuing a home should be done on specific basis. Please contact a local expert to get a more exact value. After all, not all home are average.


Brian Petersheim is a local Realtor with Homesmart Success and can be called/texted at 602-206-9644 or reached at BrianPetersheim@gmail.com.

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Photo by Kyle Norby

The least expensive home sold in Maricopa from July 16 through Aug. 15 is a mission-style, three-bedroom house in Parcel 12 of Tortosa. With some aesthetic work still needed inside and out, its price tag dropped from $209,900 to $199,900 before finally settling for a best offer.

  1. 36034 W. Marin Ave., Tortosa

Sold: Aug. 9
Purchase price: $145,000
Square footage: 2,124
Price per square foot: $68.26
Days on market: 56
Builder: Unknown
Year built: 2007
Bedrooms: 3
Bathrooms: 2
Community: Tortosa
Features: Full master suite, two-car garage, RV gate, desert landscaping, tile throughout, unique floorplan
Listing agent: Ryan Gerdes, West USA Realty
Selling agent: David E. James, Tru Realty

  1. 43682 W. Elm Drive, Rancho El Dorado ………………………………… $169,900
  2. 46025 W. Sheridan Road, Maricopa Meadows .……………………. $170,000
  3. 20358 N. MacNeil St., Homestead North ………………………………. $175,000
  4. 36113 W. Vera Cruz Drive, Tortosa ……………………..……………….. $175,000

This item appears in the September issue of InMaricopa.

Photo by Kyle Norby

The most expensive home sold in Maricopa from July 16 through August 15 was a rare basement home with spacious master suite on main floor and a movie theater and two bedrooms on the bottom floor. With TLC needed in the backyard, it sold for $6,000 under its asking price. Though 14 years old, the home came with new carpet, new paint and a new water heater.

  1. 44563 W. Venture Lane, Cobblestone Farms

Sold: July 30
Purchase price: $351,000
Square footage: 3,866
Price per square foot: $90.79
Days on market: 140
Builder: Fulton
Year built: 2005
Bedrooms: 4
Bathrooms: 3
Community: Cobblestone Farms
Features: Basement, gourmet kitchen, stainless steel appliances, split floor plan, main level bedroom with separate exit, three-car garage
Listing agent: George M. Haith, Coldwell Banker
Selling agent: Lori B. Hodgen, AZ Lane Realty

  1. 41911 W. Lucera Lane, Glennwilde …………………..…………………. $336,500
  2. 42336 W. Bravo Drive, Rancho El Dorado ….………………………… $324,900
  3. 42482 W. Almira Drive, Glennwilde ……………………………….……. $315,500
  4. 41182 W. Robbins Drive, Homestead North ….……………….……. $305,000

This item appears in the September issue of InMaricopa.

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Dayv Morgan

By Dayv Morgan

Dayv Morgan

Many homeowners in Maricopa have considered keeping their home as a rental property or buying a second home as an investment.

Mostly without apartments and duplexes at this time, Maricopa in particular has a strong demand for rental homes, keeping the monthly rates moving upward.

The ideal situation is to own property that more than pays for itself. This will give you extra income when you are retired or between jobs. But even if you just break even, you are building equity as the market increases.

If you have a second home that sits vacant most of the year, you may want to consider leasing it as a vacation rental. Your house would be under the eye of someone with a vested interest in keeping it free of insects, rodents and other invaders and you will quickly know when there has been weather or criminal damage. Check with your HOA to see if there are any restrictions with short-term rentals.

Although becoming a landlord has its advantages, there are some disadvantages that should be weighed carefully.

Each time a tenant moves out there will be cleaning, maintenance, and repair costs. A security deposit averages one month’s rent amount. If you have to replace damaged carpet and repaint the interior it will probably cost three to five times that amount, leaving you with a significant shortfall to cover.

Tenants inevitably cause more wear and tear on your property. As the owner, you are also responsible for ongoing repairs, such as the HVAC system. It’s common to see the air filters go unchanged for the entire 12 months of the lease. This puts extra stress on the system and shortens the lifespan, with potential repairs costing thousands of dollars.

Beyond maintenance costs, you must also budget for insurance, legal fees, advertising or leasing fees, accounting, and possibly a property manager. If you are able to manage the property yourself, that will save you some monthly expense, but owners often live far from their rentals and cannot visit the property often enough.

At some point, you will likely have bad renters. They may lie on their application about their employment or the number of occupants. They may ignore stipulations in your contract such as not having pets. They may cause serious damage to your home and walk away. They may cause you headaches or fines with your HOA. They may simply not pay their rent. The eviction process will cost you additional time and money.

Before renting, take your time to figure out the worth of your home and whether renting or selling is in your best, long-term interest. Putting your property into the hands of others can be stressful, but it can also be a great source of supplemental income, and hiring a property manager will help the process to go much smoother.

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.

480-251-4231
DayvMorgan@gmail.com


This column appears in the September issue of InMaricopa.

 

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Photo by Kyle Norby

A house in Glennwilde’s Magnolia section was the most expensive home sold in Maricopa from June 16 through July 15. It gained 42 percent in value since it last sold two years ago. The two-story house with a pool next to a common area was recently remodeled and includes roomy bedrooms and a three-car garage.

  1. 42405 W. Somerset Drive, Glennwilde

Sold: June 29
Purchase price: $323,000
Square footage: 3,301
Price per square foot: $97.84
Days on market: 66
Builder: Centex
Year built: 2006
Bedrooms: 4
Bathrooms: 3
Community: Glennwilde
Features: Heated pool, covered patio with built-in barbecue, bamboo flooring, granite countertops
Listing agent: Tina Clowes, The Maricopa Real Estate Company
Selling agent: Deanne Brevik, Keller Williams Realty

  1. 37698 W. Vera Cruz Drive, Rancho Mirage ……………………………. $322,000
  2. 40772 W. Pryor Lane, Homestead ………………………………………… $310,000
  3. 43311 W. Kramer Lane, The Villages at Rancho El Dorado ……. $300,000
  4. 20695 N. Bustos Way, The Villages at Rancho El Dorado ………. $300,000

    This item appears in the August issue of InMaricopa.

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Brian Petersheim

By Brian Petersheim

In July 2019 real estate was starting to cool down. Many of the buyers in the Maricopa market have purchased their homes and moved in before school started. The market is still great for buying and selling. Even though demand is slowing, supply is also dropping. Experts agree that upward price trends will continue but slow.

 

July’s median list price in Maricopa was $239,500  (- $400 from last month)

 

July-Average price per sqft was $113 (-$3 per sqft from last month)

July-Average home days on the market was 66 (which is a 9 day increase from last month)

Homes under $200,000 averaged 56 days on the market, while more expensive homes over $300,000 averaged 82 days on the market

297  Homes currently available for sale, not under contract, looking for offers
271  Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)
203 homes total sold in July 2019 (+19 over June)
34 of the sold homes had a built in private pool
$169,900  Least expensive home sold- Notes: 4 bed/2 bath  1,706sqft in Rancho El Dorado (multiple offers) 43682 W. Elm St.
$425,000 Most expensive home sold- Notes: 3 bed/3.5 bath  3,074 sqft single story in Province w/pool, casita, 2 masters and 3 car garage  42521 W. Mallard
17 Homes sold in Province (active adult community)
34 Of the sold homes were brand new/spec homes

Number of bedrooms of 203 sold homes
2 bed – 15
3 bed – 90
4 bed – 82
5 bed – 11
6 bed – 3
7+ bed – 2

Garage parking of 203 sold
2 car – 165
3 car – 38
4 car- 0

Price ranges of the 203 sold:
$150,001-175,000—- 10
$175,001-200,000—- 54
$200,001-225,000—- 49
$225,001-250,000—- 38
$251,001-275,000—- 24
$275,001-300,000—-15
$300,001-350,000—-11
$350,001-400,000—-1
$400,001+               —-1

The biggest news in Maricopa real estate in July was the opening of the model homes in the subdivision of Maricopa Meadows. The Meadows hasn’t seen construction of new homes in approximately 10 years, until last month when K.Hovnanian homes opened up their models on Miller Way, featuring six different single story floor plans and optional three- and four-car garages.

Earlier this year was the regrand opening of the Alterra subdivision with Lennar Homes and their new models and a “roll out” of several new floorplans in Palo Brea (diagonal from Ultrastar) that will feature the upgrade of an attached RV garage.

Final thoughts: The past few weeks the RE market has stayed relatively stable in terms of Sales to Inventory, however, inventory is low enough to keep us in a slight seller’s market.

Any questions about value or the market, please reach out to me.

Brian Petersheim- Realtor
Call/Text 602-206-9644

 

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The number of single-family residential homebuilding permits approved in July 2019 totaled 150.

With D.R. Horton Construction building in Tortosa and Rancho Mirage Estates, Meritage Homes in Homestead South and Province, and Richmond American in Palo Brea, Maricopa has returned to pre-recession levels of home permit requests.

Combined, 10 homebuilders received 150 single-family residential (SFR) permits in July, the highest monthly total since October 2007. The total projects are valued at $37 million.

DRH accounted for 60 of those home-building permits. The builder is quickly filling in streets in north and south Tortosa. Richmond, meanwhile, has rebooted the once-stagnant development of Palo Brea, and KB Home has lots in Homestead.

Starlight Homes and Scott Homes are both building in Sorrento. Fulton Homes continues construction in Glennwilde. LGI Homes is in Rancho Mirage, Costa Verde Homes is in Santa Rosa Springs, and Lennar is prepping more lots in Alterra.

According to the City of Maricopa, the July total tops the entire year of 2011, when only 110 homebuilding permits were issued.

“The amount of SFR permits coming in is astonishing,” Permit Technician Isela Hernandez said in a City release. “Maricopa is a great place to live and raise a family, and with all these new homes in development it seems the secret is out.”

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Dayv Morgan

By Dayv Morgan

A very important part of moving into a neighborhood governed by a homeowners’ association is the “Declaration of Covenants, Conditions and Restrictions.”

It explains rights and obligations of the homeowners and the HOA. The association usually has policies on color palettes, landscaping, use of RV gates, street parking and additions like ramadas. The CC&R’s are legally binding rules that are filed with the state.

Homebuyers usually receive their CC&R’s from the escrow company, both electronically and as hard copy or on a disk. They have five days to review the CC&R’s. Even if final inspections have been made, the homebuyer can still back out at this time if they find something in the CC&R’s that is objectionable.

CC&R’s in Maricopa vary from HOA to HOA. Their enforcement also varies according to state law. For instance, an HOA that has had its CC&R’s regarding parking on public streets in place by 2014 can enforce those restrictions. Newer CC&R’s, however, are superseded by local law.

Read the CC&R’s carefully. There is usually an “architectural standards” section, which pretty much applies to anything on your property that can be seen from the road. Understand what is your responsibility and what the HOA is supposed to maintain. If the CC&R’s are not clear, contact the community manager.

Homeowners who rent their homes will receive notices of violations of which their tenants are accused. Lease agreements can include a stipulation holding the tenant responsible for CC&R violations. If you are a renter, ask your landlord or property manager for a copy of the CC&R’s. It is often the homeowner rather than the HOA who will notify you of violation complaints.

HOA members should understand the details of the CC&R’s and be on top of any updates. I had a client who repainted his house the exact same color it already was only to be told he should have asked the HOA first because they had changed the accepted color palette.

CC&R’s may also detail the minimum and maximum number of plants and shrubs. One client bought his house only to find out he had to install more bushes in the front yard.

Is your gazebo visible over your back wall? Has the car parked in the street not moved since 2010? Has your neighbor’s trash can been sitting on the sidewalk more than 48 hours? How long can you keep your holiday decorations up?

Understanding and abiding by the CC&R rules covering these details will make HOA life a little easier. The early discovery of rules that would directly conflict with your lifestyle and budget will save you from making an investment you could come to regret.

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.

480-251-4231
DayvMorgan@gmail.com


This column appears in the August issue of InMaricopa.

 

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By Brian Petersheim

Brian Petersheim

Currently finding a nice rental home in Maricopa for a great price with less than perfect credit is like finding a hidden treasure at a flea market. Supply of available rentals is extremely low, while demand has been high

To put the supply in perspective, the city of Maricopa currently has about 18,500 homes currently, but as of today’s date there are only 14 homes available for rent on the Arizona Regional MLS (plus eight furnished vacation rentals).

The rental homes are coming on the market, have multiple applicants within the first few days and are rented quickly — 96.3 percent of the homes are rented within 30 days.

There were 81 homes rented in the past three months in Maricopa. The average monthly rent was $1,350 for approximately 2,000 sq ft home.

 

CURRENT LISTINGS
Total number of homes for rent – 14
Rentals allowing pets – 5
Rentals with pools – 1
Short term/seasonal rentals – 8

Monthly lease prices of the 14 homes
$1151-1200—-1
$1201-1250—-3
$1251-1300—-1
$1301-1350—-1
$1351-1400—-7
$1401-1500—-0
$1500+———1

With the rental market as tight as it currently is with supply, a prospective tenant needs to put their best foot forward when applying to rent a home. These are some tips and tricks to help a tenant get into the rental home of their dreams and set them above the competition!

  1. Know what your credit report looks like before you find the home of your dreams.
  2. Attach reference letter from boss or previous landlord to application.
  3. Have your real estate agent reach out to the landlord’s real estate agent to confirm the house is still available and ask if there are any applications pending.
  4. Any Realtor can help you with rental listings.

If you are interested in purchasing a home for an investment property, please reach out.


Brian Petersheim-Realtor
Call/text 602-206-9644
BrianPetersheim@gmail.com

Dayv Morgan

By Dayv Morgan

Dayv Morgan

As summer hits and the weather warms up, the thought of having a backyard pool becomes more desirable.

But many people are hesitant to add one, thinking the cost is too great, and the return on investment will be too small when it’s time to sell. In Maricopa, however, neither seems to be accurate.

In some parts of the Valley, pools are very common. Over the last month in Chandler, for example, almost 50 percent of the homes sold had a pool. Therefore, most appraisers will say a pool only adds about $10,000 of value to a home.

But in the Maricopa market during the past month, 48 of the 196 closed homes had pools (24.4 percent), and the retail price of these homes is $25,000 or more above the same floorplan without a pool.

Currently the number of properties with pools is growing, meaning many of the pools are new. In the first five months of this year, the city issued 88 permits for residential pools

If you are hoping to have a pool in time to beat the summer heat, get started now. The whole process could take up to eight weeks – two to three weeks for permitting and five to six weeks for construction.

So, what does it cost to keep cool?

A basic 80-foot perimeter pebble-tec pool, with a maximum depth of 5 feet, should cost about $25,000, depending on the access to the yard. This means in most cases you will get at least a 100 percent return on your investment.

If you add other pool features such as a waterfall, spa, in-floor cleaning system or heater, the price will jump quickly and the overall return for the pool investment will decline.

Another benefit to consider is the “days on market” when you list your home for sale. Properties with pools tend to sell much faster than those without.

In the last month, Maricopa homes without pools took an average of 81 days to sell, while homes with a backyard pool sold a month faster, in only 53 days.

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Success.

480-251-4231
DayvMorgan@gmail.com


This column appears in the July issue of InMaricopa.

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Photo by Kyle Norby

The least expensive home sold in Maricopa from May 16 through June 15 was a 16-year-old home that had only one owner. It sold for $5,000 under its asking price and quickly was offered for rent. Two of the three bedrooms are carpeted while the rest of the house has wood and tile flooring.

1. 42358 W. Sunland Drive, Rancho El Dorado …………………………………………….$167,000

Sold: May 29
Purchase price: $167,000
Square footage: 1,281
Price per square foot: $130.37
Days on market: 19
Builder: Unknown
Year built: 2003
Bedrooms: 3
Bathrooms: 2
Community: Rancho El Dorado
Features: Near golf course, new bathroom and kitchen fixtures, kitchen appliances, pantry
Listing agent: Casey Edward Clay, EXIT Realty Expanded Vision
Selling agent: Bryan C. Adams, The Maricopa Real Estate Company

2. 19365 N. Miller Way, Maricopa Meadows ……………………………………..$172,000
3. 19393 N. Sandalwood Drive, Glennwilde ………………………………………..$175,000
4. 46028 W. Starlight Drive, Maricopa Meadows ………………………………..$179,000
5. 46059 W. Holly Drive, Maricopa Meadows ……………………………………..$180,000


This item appears in the July issue of InMaricopa.

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By Brian Petersheim

Brian Petersheim

The month of May is one of the busier months for buying and selling homes in Maricopa, and May 2019 was no different. The market will continue to heat up, much like the weather, as many buyers and sellers use summer vacation as a good segue to move before the new school year starts.

May’s median list price in Maricopa was $238,495 (up $1,500 from last month)
Average price per square foot was $117 (up $2 per square foot from last month)
Average days on the market was 59 (which is a seven-day decrease from last month)
Homes under $200,000 averaged 51 days on the market, while more expensive homes over $300,000 averaged 75 days on the market

  • 363 Homes currently available for sale, not under contract, looking for offers
  • 264 Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)In May 2019
  • 191 homes were sold in May
  • 50 of the sold homes had a built-in private pool.

$162,500 Least expensive home sold – Notes: 3bed/2bath 1,041 sqft in Tortosa, 19296 N. Costa Verdez
$385,000 Most expensive home sold – Notes: 3bed/2.5bath  2,325 sqft in Province (lakefront +loaded with upgrades+owner solar), 41673 W. Harvest Moon Drive.

  • 9 Homes sold in Province (active adult community)
  • 33 Of the sold homes were new build/spec homes

Number of bedrooms – 191 sold homes
2 bed – 11
3 bed- 80
4 bed – 81
5 bed – 17
6 bed – 2
7+ bed – 0

Garage parking: of the 191 sold
2 car- 138
3 car- 51
4 car- 2

Price ranges of the 191 sold:
$150,001-175,000—- 8
$175,001-200,000—- 52
$200,001-225,000—- 44
$225,001-250,000—- 38
$251,001-275,000—- 20
$275,001-300,000—-16
$300,001-350,000—-9
$350,001-400,000—-4

RV Garages

The biggest news in real estate in May was the “roll out” of several new floor plans in Palo Brea (diagonal from UltraStar) that will feature the upgrade of an attached RV garage.

In April, Maricopa Meadow’s lots were purchased by K. Hovnanian Homes and they will be building 6 different single story floor plans. There are about 90 vacant lots that a brand new home can be built on.

Alterra’s lots were purchased by Lennar homes which will offer single story homes. There are approximately empty 150 lots in Alterra that can be built on! Model home construction has started.

Tortosa had a very large parcel purchased by a developer last year, and plans for those homes are in the works, but in another section of Tortosa, where there are currently homes, builder DR Horton has started construction of several homes in South Tortosa. Currently the subdivision has about 1,400 vacant lots.

Final thoughts: The past few weeks the RE market has stayed relatively stable in terms of Sales to Inventory, however, inventory is low enough to keep us in a slight seller’s market.

Any questions about value or the market, please reach out to me.

Brian Petersheim- Realtor
call/text 602.206.9644

 

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Photo by Jim Headley

The least expensive home sold in Maricopa from April 16 to May 15 went for 33 percent more than its last sale in 2007, the year it was built in The Lakes subdivision. It was snapped up in just a month for $2,900 under its asking price.

  1. 41270 W. Cahill Drive, The Lakes at Rancho El Dorado, $167,000

Sold: May 14
Purchase price: $167,000
Square footage: 2,212
Price per square foot: $137.78
Days on market: 32
Builder: Unknown
Year built: 2007
Bedrooms: 3
Bathrooms: 2
Community: The Lakes at Rancho El Dorado
Features: Full master suite, large kitchen, cover patio, two-car garage, low-maintenance landscaping
Listing Agent: Dayv Morgan, HomeSmart Success
Selling Agent: Dayv Morgan, HomeSmart Success

  1. 19336 N. Ibiza Lane, Tortosa, $170,000
    3. 40089 W. Bonneau St., Smith Farms, $170,000
    4. 21784 N. Liles Lane, Rancho El Dorado, $170,000
    5. 20613 N. Ancon Ave., Acacia Crossings, $173,000


    This item appears in the June issue of InMaricopa.

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Photo by Jim Headley

The most expensive home sold in Maricopa from April 16 to May 15 was a three-bedroom Gardenia model with a casita. The one-owner house, which is 12 years old, had solar panels installed three years ago with a prepaid 20-year lease. It was on the market nearly a year while the original asking price was dropped $19,500.

  1. 42264 W. Rummy Road, Province, $366,000

Sold: May 1
Purchase price: $366,000
Square footage: 2,337
Price per square foot: $156.61
Days on market: 243
Builder: Engle
Year built: 2007
Bedrooms: 3
Bathrooms: 3.5
Community: Province
Features: Guest house, gourmet kitchen, two master suites, butler’s pantry, custom cabinets in two-car garage, covered patio with built in barbecue
Listing Agent: Kim Gillespie, Cactus Mountain Properties
Selling Agent: Debra K. Johnson, Cactus Mountain Properties

    1. 43350 W. Desert Fairways, Rancho El Dorado …………………… $360,000
    2. 18911 N. Falcon Lane, Glennwilde ……………………………………… $336,900
    3. 40997 W. Coltin Way, Homestead North ……………………………. $319,900
    4. 44239 W. Sedona Trail, Cobblestone Farms ……………………….. $318,000

      This item appears in the June issue of InMaricopa.