Tags Articles tagged with "Real Estate"

Real Estate

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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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Photo by Kyle Norby

 

The least expensive home sold in Maricopa from June 16 through July 15 is a 45-year-old house in the Heritage District. Site-built on an 11,000-square-foot lot, the house retains its rural environment and is not subject to a homeowners association. It also receives its water from the Maricopa Domestic Water Improvement District. It sold for $16,500 under its list price.

  1. 45220 W. Madison Ave., Heritage District

Sold: June 28
Purchase price: $108,000
Square footage: 1,040
Price per square foot: $103.84
Days on market: 45
Builder: Unknown
Year built: 1974
Bedrooms: 3
Bathrooms: 1
Community: None
Features: Tile and laminate flooring, RV gate, slab parking, large lot, gas heat, septic
Listing agent: Danielle Nichols, The Maricopa Real Estate Company
Selling agent: Pat Lairson, The Maricopa Real Estate Company

  1. 43815 W. Cahill Drive, Rancho El Dorado ……………………………… $171,000
  2. 45074 W. Sage Brush Drive, Alterra South ……………………………. $171,000
  3. 42276 W. Calle St., Santa Rosa Springs …………………………………. $175,000
  4. 46081 W. Windmill Drive, Maricopa Meadows …………………….. $176,000

    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 most expensive home sold in Maricopa from May 16 through June 15 was a lakefront property in Province with a 3-year-old house. Its selling price was almost 4 percent lower than its listing price of $400,000 last year and was $20,000 below its original list price. It was on the market nearly nine months.

1. 41673 W. Harvest Moon Drive, Province, $385,000

Sold: May 16
Purchase price: $385,000
Square footage: 2,325
Price per square foot: $165.59
Days on market: 231
Builder: Meritage
Year built: 2016
Bedrooms: 3
Bathrooms: 2.5
Community: Province
Features: Upgrades, lots of storage, front courtyard, electric shades, solar panels
Listing agent: Pat Lairson, The Maricopa Real Estate Company
Selling agent: Sheila Steinle, HomeSmart Success

2. 43265 W. Bailey Drive, The Villages at Rancho El Dorado ………………………..$362,000
3. 21839 N. Greenway Drive, Rancho El Dorado ………………………………………….$360,900
4. 40759 W. Bravo Drive, The Lakes at Rancho El Dorado ……………………………$350,000
5. 20126 N. Snowflake Drive, Province …………………………………………….…………$325,000


This item 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.

Dayv Morgan

By Dayv Morgan

Dayv Morgan

With the average home in Maricopa at least 10 years old, it is imperative for homebuyers to budget for unexpected home repair costs.

If something fails, the cost and time can be a shock. The water heater may be nearing the end of its life span, the cooling system may have been installed in 2006 or you may not know the condition of your roof underneath the exterior tile. Do you even know how old your plumbing is?

The exterior paint can show signs of fading after only a few years, and your homeowners association may ask you to repaint after you’ve been in your home only a few months.

A home warranty plan is an important part of buying a home. While home insurance can cover you against structural damage and theft, a home warranty can repair or replace systems and appliances that stop working due to normal wear and tear.

A study by Zillow found homeowners spend $8,000-$9,000 a year on unexpected home maintenance costs. Studies also found a quarter of Americans have saved less than $500 for home repairs.

Many homes in Maricopa were built in 2004 or 2006 during the boom. Even if you are dutifully changing your filters and oiling your garage door mechanism, age will catch up with your systems. Appliances have a certain life expectancy.

A good home warranty plan helps off-set these unexpected costs.

What does a home warranty cover?

Plans vary, and it depends how much you want to pay. A basic plan costs $400-$500 and covers:

Oven/Range
Dishwasher
Garbage disposal
Plumbing
Water heaters
HVAC
Electrical systems
Doorbells
Inside plumbing
Ceiling fans

Upgrade options

Refrigerators
Washers/Dryers
Spa/Pool systems
Garage door openers

What is not typically covered?

Outdoor items/systems
Faucet repairs
Pre-existing conditions
Code violations
Improper installation

Typically, when something does break or wear out, you can call your home warranty representative first, and they will send over a repair professional in their network. Some companies, like America’s Preferred Home Warranty, lets you pick your own repair company. Always examine a home warranty carefully and discuss it with your agent before signing.

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

480-251-4231
DayvMorgan@gmail.com


This column appears in the June issue of InMaricopa.

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Photo by Jim Headley

The most expensive home sold in Maricopa from March 16 through April 15 was a lakeside, two-story home that is just 6 years old. It sold for $42,000 more than its previous sale price in 2014. With five bedrooms and a three-car garage, its original asking price was $349,900. It was on the market more than three months.

  1. 40946 W. Desert Fairways Drive, The Lakes at Rancho El Dorado

Sold: March 27
Purchase price: $342,000
Square footage: 3,656
Price per square foot: $93.54
Days on market: 95
Builder: Unknown
Year built: 2013
Bedrooms: 5
Bathrooms: 4
Community: The Lakes at Rancho El Dorado
Features: Easy access to fishing lake, oversized kitchen, full master suite, upstairs loft, granite countertops
Listing Agent: Kelly Cook, Keller Williams Arizona Realty
Selling Agent: Ninos Lazar, Investar Real Estate Specialist

  1. 43995 W. Adobe Circle, Cobblestone Farms ………………………… $325,000
  2. 20450 N. Lauren Road, Homestead North ……………………………. $305,000
  3. 40840 W. Wade Drive, The Lakes at Rancho El Dorado ………… $305,000
  4. 19343 N. Ventana Lane, Glennwilde …………………………………….. $303,000

    This item appears in the May issue of InMaricopa.

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Brian Petersheim

By Brian Petersheim

Brian Petersheim

The month of April is generally a very busy month for buying and selling homes in Maricopa, and this April 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.

April’s median list price in Maricopa was $237,900
Average price per square foot was $115
Average days on the market was 66 (which is a +10-day increase from last month)
Homes under $200,000 averaged 54 days on the market, while more expensive homes over $300,000 averaged 84 days on the market

370 Homes currently available for sale, not under contract, looking for offers
280 Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)

In April 2019
42 of the sold homes had a built-in private pool.
$156,000 – Least expensive home sold – Notes: 2bed/2bath Villa in Province  1571sqft w/ leased solar 41987 W. Ellington
$379,000 – Most expensive home sold – Notes: 3bed/3bath 2543sqft in Province w/pool, built in bbq,backing to green belt, 20051 N. Monte
19 Homes sold in Province (active adult community)
25 Of the sold homes were new build/spec homes

Number of bedrooms – 207 sold homes
2 bed-20
3 bed- 91
4 bed- 67
5 bed- 25
6 bed- 4
7+ bed- 0

Garage parking – of the 207 sold
2 car- 165
3 car- 41
4 car- 1

Price ranges of the 207 sold:
$150,001-175,000—- 15
$175,001-200,000—- 62
$200,001-225,000—- 44
$225,001-250,000—- 39
$251,001-275,000—- 25
$275,001-300,000—-11
$300,001-350,000—-8
$350,001-400,000—-3

The biggest news in real estate in April was the “reopening” of subdivisions that have not seen new homes being built in nearly a decade.

Maricopa Meadow’s lots were purchased by K. Hovnanian Homes, and they will be building six 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 150 empty 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.

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


Brian Petersheim is a Realtor at HomeSmart Success. He can be called or texted at 602-206-9644.

Dayv Morgan

By Dayv Morgan

Spring is here, and that means a lot of activity in Maricopa real estate.

Spring and early summer is typically the peak for sales in Maricopa as families use the summer break to move to new locations. Many home sellers are now listing their homes in anticipation of the increasing demand.

For example, there were 137 new listings in December compared to 266 in January and 203 in February. The median prices and average prices also rise from spring to summer. Last year, the median sales price in Maricopa increased from $192,000 in March to $210,000 in July.

As the supply of active homes decreased 17 percent in that time period, the average days on market decreased from 74 to 55. That is the impact of both competition and demand in the housing market in spring.

Now is prime time for home sellers to get their houses on the market in front of most likely home buyers.

In 2018, the month of May had the largest closed listings at 242 homes. That coincided with the end of the school year. Young families are still one of the primary buyers in Maricopa and tend to move between school years.

That home-buying window is shorter than ever as many schools in Maricopa return to classes at the end of July. Families that want to be moved in with escrow closed well before that time tend to push the market in spring. That means they are shopping in March and April.

And resale properties face a lot of competition this year.

New home construction has been reinvigorated in some Maricopa subdivisions that have been practically dormant until recently. That could make the resale market slightly slower this year. About one in six active listings in the Multiple Listing Service is a new build.

Spring is good for home sellers and buyers, if they jump into the Maricopa market as soon as possible.

 

Maricopa median home sales prices 2018
March                   July
$192,000              $210,000

Maricopa average home sales prices 2018
March                   July
$201,000              $218,000


This column appears in the April issue of InMaricopa.

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KHovnanian purchased 86 lots in Maricopa Meadows.

By Brian Petersheim

Brian Petersheim

KHovnanian Homes, known also as KHov, has recently purchased the 86 empty lots in Maricopa Meadows to build six new floor plans.

According to tax records, KHov paid $4.5 million dollars for the lots and is ready to build the first homes in the subdivision since 2007.

The current plan is to build single-story homes on all of the 86 lots. The homes will start at 1,351 square feet and go up to 2,242 square feet. All of the homes will come standard with a two-car garage, but a three-car garage is optional.

The most unique feature about the homes is that the larger floor plans will be highly customized, especially with the bedrooms. The 2,242-square-foot home can be built with a “mother-in-law suite” aka “multi-generational home,” the name may vary depending on the part of the country you come from.

The “mother-in-law/multi gen home” features a separate living area, kitchenette, bedroom and bathroom with a separate entrance from the outside of the home being optional. This set-up could be perfect for relatives or generating income for investors. This set up can only be done in the largest floor plan(s).

Model home pricing has not been determined and floor plans are subject to change.

The last time a builder was in Maricopa Meadows was just before the market crashed when builders Turner-Dunn, Elite, Brown Family and Homelife occupied the Meadows along with several other builders. While KHovnanian is based out of New Jersey, this won’t be their first subdivision in Maricopa. KHov used to have model homes and built many houses in Alterra in 2005-06.

KHovnanian joins Richmond American homes as being the latest additions to the Maricopa new home scene where one-third of the homes currently listed for sale are brand new.


Brian Petersheim- Realtor Homesmart Success
602-206-9644
BrianPetersheim@gmail.com

 

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Photo by Jim Headley

 

The least expensive home sold Jan. 16-Feb. 15 sold in an online auction by the owner/agent in January. A two-story, four-bedroom, no-frills house, it is nearly 12 years old with basic desert landscaping front and back.

  1. 21808 N. Liles Lane, The Lakes at Rancho El Dorado

Sold: Jan. 28
Purchase price: $154,000
Square footage: 2,195
Price per square foot: $70.16
Days on market: 7
Builder: Meritage
Year built: 2007
Bedrooms: 4
Bathrooms: 2.5
Community: The Lakes at Rancho El Dorado
Features: Master bedroom downstairs, walk-in closets, large kitchen, water softener, tile flooring throughout lower level
Listing Agent: Don Juvan, Gentry Real Estate
Selling Agent: Don Juvan, Gentry Real Estate

  1. 40215 W. Green Court, Desert Passage ……….. $159,900
  2. 35978 W. Costa Blanca Drive, Tortosa ………… $160,000
  3. 42515 W. Hillman Drive, Rancho El Dorado … $164,000
  4. 42359 W. Sunland Drive, Rancho El Dorado … $168,000

 

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Photo by Jim Headley

The most expensive home sold in Maricopa from Jan. 16 to Feb. 15 was a brand-new spec home by Fulton Homes in the Sycamore section of Glennwilde. Sporting tons of upgrades, from faucets to hardware, it has four bedrooms on one level and was on the market less than two weeks. Though having no landscaping yet in the backyard, the home is 2,500 square feet and comes with a three-car garage.

  1. 41840 W. Granada Drive, Glennwilde

Sold: Jan. 30
Purchase price: $340,598
Square footage: 2,517
Price per square foot: $135.31
Days on market: 13
Builder: Fulton Homes
Year built: 2018
Bedrooms: 4
Bathrooms: 3
Community: Glennwilde
Features: All-new features with upgrades, dimmable task lighting, multiple ovens, energy efficient, huge great room, covered patio
Listing Agent: Linn Adair, Fulton Home Sales
Selling Agent: Jennifer Schumacher, Century 21 Arizona Foothills

  1. 16944 N. Palo Verde St., Palo Brea………………………………………..$335,000
  2. 41858 W. Almira Drive, Glennwilde………………………………………$307,500
  3. 40936 W. Hopper Drive, Homestead North………………………….$300,000
  4. 40810 W. Parkhill Drive, The Lakes at Rancho El Dorado………$300,000

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Brian Petersheim

By Brian Petersheim

In the entire year of 2018, there were 2,041 homes sold in Maricopa. Of those homes sold 1,927 of the homes were located  in Maricopa’s subdivisions led by Home Owner’s Associations. Only Five percent of the homes sold in Maricopa were in areas not guided by HOAs.

I wanted to do a break down of the price per sq. ft. average of each of the subdivisions. Please note that many factors play into these average numbers. The two factors that have the most weight in the averages below are:

  1. The number of sold homes compiled in the average. For instance, in the entire year of 2018, only 8 homes sold in the subdivision of Palo Brea. A single low sales price will affect the average more than other areas.
  2. The subdivisions where new home construction is occurring may have a higher average because the builders sell their homes at a higher price per sq. ft. than a resale home!
Subdivision Average price/ sq. ft.
Acacia Crossings $104
Alterra $96
Cobblestone $104
Desert Cedars $93
Desert Passage* $98
Glennwilde* $103
Homestead* $106
Lakes @ Rancho $102
Maricopa Meadows $88
Palo Brea $87
Province* $136
Rancho El Dorado $105
Rancho Mirage* $110
Santa Rosa* $106
Senita $89
Sorrento* $101
Tortosa $94
Villages $99

 

*These subdivisions have new builds being sold

Please note: These are averages. Your home may be above or below the average. Your home may be highly upgraded, or have a pool. Single vs. two-story can make a huge difference. Every property should be looked at individually by a licensed local Real estate agent to get a more precise valuation.

 

Brian Petersheim is a Real estate agent with Homesmart Success.
602-206-9644
BrianPetersheim@gmail.com

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Photo by Jim Headley

The most expensive home sold in Maricopa from Dec. 16 to Jan. 15 was a large, lakeside home in Province that had been on the market 10 months. It sold for $9,900 under its list price and was quickly placed on the market for rent. It includes solar for minimal electric bills and a gorgeous back patio with a hot tub.

  1. 42483 W. Blue Suede Shoes Lane, Province

Sold: Jan. 1
Purchase price: $440,000
Square footage: 3,102
Price per square foot: $141.84
Days on market: 293
Builder: Meritage
Year built: 2006
Bedrooms: 4
Bathrooms: 4
Community: Province
Features: Luxury gourmet kitchen with steel appliances, bamboo floors, 12-foot ceilings, three-car garage, guest casita
Listing Agent: Jill K. Dames, Realty ONE Group
Selling Agent: Annette Sharp, HomeSmart

  1. 20193 N. Winter Escape Court, Province…………………………………….$300,000
  2. 21838 N. Scott Court, Rancho El Dorado……………………….……………$292,000
  3. 20038 N. Cordoba St., Tortosa……………………………………………………$287,500
  4. 42478 W. Constellation Drive, Province…………………….……………….$275,000

Item appears in the February issue of InMaricopa.

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Photo by Kyle Norby

The least expensive home sold in Maricopa from Dec. 16 to Jan. 15 was a three-bedroom in Sorrento that last sold at the end of 2016. It has been off-and-on the market and used as a rental. It sold for its list price. Originally listed in August, it was almost sold in December but financing fell through before closing.

  1. 17881 N. Ischia Road, Sorrento

Sold: Jan. 10
Purchase price: $166,900
Square footage: 1,371
Price per square foot: $121.73
Days on market: 154
Builder: D.R. Horton
Year built: 2008
Bedrooms: 3
Bathrooms: 2
Community: Sorrento
Features: 8,000-square-foot lot, RV gate, vaulted ceiling in family room, custom blinds, reverse osmosis drinking system
Listing Agent: Ted A. Anderson HomeSmart Success
Selling Agent: Brooke Jordan, My Home Group Real Estate

  1. 44063 W. Neely Drive, The Villages at Rancho El Dorado …….$168,000
  2. 41334 W. Bravo Drive, The Lakes at Rancho El Dorado…………$169,500
  3. 42188 W. Noreen Road, Santa Rosa Springs…………………………$169,999
  4. 21424 N. Reinbold Drive, Rancho El Dorado………………………….$171,500

This item appears in the February edition of InMaricopa.

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By Dayv Morgan

Dayv Morgan

To say the least, 2018 was a good year for housing in Maricopa. Prices went up, availability tightened a bit and 101 more houses sold compared to the year before.

Meanwhile, house construction continued at a rapid rate, proving builders are bullish on Maricopa. The month of May was particularly hot, with 106 building permits filed. Year-over-year, building permits increased 34 percent.

The number of active listings stayed fairly consistent, as did the average number of days on the market, which is slightly above the Valley average. The average selling price in Maricopa by year’s end had increased to $214,000, still well below the Valley average of $235,200, which might explain the continued housing demand in Maricopa.

While the number of homes for sale was shrinking, it was even more difficult to find a house to rent in Maricopa, and rents climbed to an average of $1,300.

The nationwide shortages in construction supplies and labor were felt in Maricopa and may contribute to higher home prices when houses currently under construction go on the market in 2019. Mortgage rates also went up during 2018, putting more pressure on buyers.

For the most part, 2018 was a seller’s market in Maricopa. That will likely continue in 2019. Potential homebuyers are expected to enter the market by spring to get ahead of rising prices.

Maricopa data:

                                                                            Jan. 1, 2018                          Dec. 1, 2018
Median sold price                                                  $190,000                                $212,000
Average sold price                                                 $204,000                                $214,000
Ratio of original list price to sold price              97.7%                                        97.4%
Active Listings                                                         428                                            406
Average days on market                                         60                                               66

                                                                                                           2017                       2018
Homes sold in first 11 months                                                           1,805                     1,906
Single-family house building permits in first 11 months              708                         951

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


This column appears in the January issue of InMaricopa.

 

By Brian Petersheim, Realtor

Brian Petersheim, Realtor. Photo by Victor Moreno

In the past, blogging topics have focused on buying/selling homes and the real estate market in general, but this time I wanted to change things up and focus on renters.

Renters in Maricopa have always been an asset to our community. People rent homes for many reasons instead of buying a home. The most common reasons that are mentioned are getting the “lay of the land” in Maricopa, maybe making sure the commute is acceptable, and deciding on a specific community to lay their roots down. Another common reason to rent is to work on credit scores and employment history to be able to qualify for a home purchase.

I have broken down this blog post into two parts. The first is the Maricopa rental market in general and the second will be tips and tricks to increase your chances of getting into the rental home of your choice.

At the current time there are about 18,000 homes built in Maricopa, but there are only about 33 homes for rent right now, which is a very low inventory.

Total number of homes for rent 33
Rentals allowing pets 23
Rentals with pools 5
Short term/seasonal rentals 11
Monthly lease prices of the 33 homes
$1,100-1,150—-2
$1,151-1,200—-5
$1,201-1,250—-4
$1,251-1,300—-6
$1,301-1,350—-3
$1,351-1,400—-2
$1,401-1,500—-8
$1,500+———3

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. The landlord will receive a copy of your credit report and you want to make sure there are no surprises. If there are any extenuating circumstances or errors on your credit report, write a note to the homeowner to be submitted with the application explaining the issue. If they don’t see the note they won’t know the reason and may be more likely to pass on you for renting. The landlord may also run a criminal background check.

2. In in a landlord’s market, where the landlord may have multiple choices of tenants it would be wise to have a positive letter on hand from previous landlords. In cases where you don’t have a previous landlord, a letter from your direct supervisor at work telling what a great and long-term employee you are may help . Submit the letter with your application. That letter will weigh greatly with the prospective new landlord’s decision.

3. Make sure you invest in renters insurance. The homeowner’s insurance policy will not cover anything that doesn’t belong to the homeowner. The insurance is relatively inexpensive and covers everything that you own in the house, in case of some kind of disaster you and your belongings will be covered.

4. 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. Generally when you apply to rent a house there is a fee involved for each applicant over the age of 18. If there are multiple applications already submitted, knowing that would be important for someone, before using their hard earned dollars for an application fee.

5. Any Real estate agent can help you find a rental. There is no “commission” for a tenant to pay the agent helping them. The commission is paid by the homeowner. There may be fees for the tenant to pay to the property management company, but those fees will need to be paid by the renter either way. A good source for a tenant to start the rental search on their own is www.Realtor.com

Welcome to Maricopa– “the Friendliest City in Arizona.”

Brian Petersheim
Realtor-Homesmart Success
602.206.9644 BrianPetersheim@gmail.com

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Photo by Kyle Norby

The most expensive home sold in Maricopa Nov. 16-Dec. 15 is a 4,000-square-foot house on a 14,000-square-foot lot in The Villages. Its price tag was 12.8 percent higher than its previous sale 17 months earlier. The five-bedroom house is two stories with a master-suite balcony overlooking a private pool.

  1. 43195 W. McClelland Drive

Sold: Nov. 27
Purchase price: $335,000
Square footage: 3,955
Price per square foot: $84.70
Days on market: 51
Builder: Unknown
Year built: 2005
Bedrooms: 5
Bathrooms: 3
Community: The Villages at Rancho El Dorado
Features: Sunken living room, built-in wet bar, private dining room, 3-car garage, covered patio
Listing Agent: Amy Haight, Arizona Best Real Estate
Selling Agent: Wayne Knight, ProSmart Realty

  1. 42612 W. Blue Suede Shoes Lane, Province………………….$325,000
  2. 20197 N. Marquez Drive, The Villages…………………………..$295,000
  3. 42037 W. Baccarat Drive, Province……………………………….$280,000
  4. 41981 W. Solitare Drive, Province…………………………………$278,000

    This item appears in the January issue of InMaricopa.

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Photo by Kyle Norby

The least expensive home sold in Maricopa Nov. 16-Dec. 15 is a one-owner home in Homestead that is 1,400 square feet on a desert-scaped lot. Built nearly a decade ago, it is well-maintained and across the street from a park.

  1. 21180 N. Dries Road, Homestead North

Sold: Dec. 13
Purchase price: $161,000
Square footage: 1,454
Price per square foot: $110.72
Days on market: 10
Builder: DR Horton
Year built: 2009
Bedrooms: 3
Bathrooms: 2
Community: Homestead North
Features: Three-quarter bath with master bedroom, kitchen island, low-maintenance landscaping, 2-car garage
Listing Agent: Melissa Rush, Rush & Associates Realty
Selling Agent: Merdad Meraban, Delex Realty

  1. 37037 W. Bello Lane, Sorrento………………………$161,500
  2. 43826 W. Lindgren Drive, The Villages…………..$172,500
  3. 43230 W. Chisholm Drive, Rancho El Dorado…$173,000
  4. 42006 W. Anne Lane, Rancho El Dorado………..$173,000

    This item appears in the January issue of InMaricopa.

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Photo by Raquel Hendrickson

A one-owner, single-story home in Province was the most expensive home sold in Maricopa Oct. 16-Nov. 15. Sellers took $6,000 off the asking price to sell in less than two months. The lakeside property includes a three-car garage, beautiful courtyard and covered back patio with built-in barbecue and a fire pit.

1. 41696 W. Snow Bird Lane, Province

Sold: Oct. 19
Purchase price: $389,000
Square footage: 2,044
Price per square foot: $190.31
Days on market: 41
Builder: Meritage
Year built: 2015
Bedrooms: 3
Bathrooms: 2
Community: Province
Features: Lakefront, updated landscaping, large kitchen, huge master bedroom with bay windows, 55+ gated community
Listing Agent: Jesse Kibler, HomeSmart
Selling Agent: Terry Sperry, Coldwell Banker

2. 41059 W. Robbins Drive, Homestead …………………………….…$315,000
3. 41635 W. Snow Bird Lane, Province …………………………………$299,000
4. 43597 W. Snow Drive, The Villages at Rancho El Dorado …$291,500
5. 21919 N. Balboa Drive, Rancho El Dorado ……………………….$285,000



This item appears in the December issue of InMaricopa.