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Recently, a jury in Missouri found the real estate industry guilty of artificially inflating housing prices by charging “traditional” commissions (5-6%), almost always paid by the sellers from the proceeds of the sale of their home.

It is a strange housing market out there right now. Inventory has plummeted back to levels that we saw during the pandemic buying frenzy. However, for a number of reasons, buyer demand is lagging as well; hence, a slow market with very little inventory to choose from and slow buyer/showing activity.

Let’s lighten it up a little here in September as this year flies by right before our eyes. As Realtors, we are inundated with market information, predictions, career tips, and more. Occasionally, we run across something a little more entertaining, like the following fun facts about real estate.

I am sure many of you have driven around Sun Lakes and noticed that some of the Saguaros have lost some limbs. Saguaro cacti are iconic symbols of the desert landscapes in the southwestern United States. This is particularly true in Arizona where it is considered by most to be the unofficial state “tree” due to its prevalence and longevity.

One year ago, we were in the early stages of a nationwide real estate market cooling, and the Phoenix market was no exception. Buyers seemed to have had enough of the rapidly rising prices, frustrated in losing on multiple offer properties, and of course apprehensive about rising interest rates.

Every year around this time, Micah Miranda, the Economic Development Director for the City of Chandler, does an economic update presentation for the Chandler Rotary Club. It is always an eye-opening presentation filled with very interesting statistics and graphics about the present state of the Chandler economy. This first slide shows some of the national recognition Chandler has recently received.

How wet was this winter & how did it affect the water supply in the Phoenix valley? The answer is… historically wet! The Salt River Project (SRP) supplies electricity for the East Valley through a series of dams on the Salt River system. I am sharing some slides from their spring Board of Directors presentation.

If you have been driving around Sun Lakes recently, you have probably noticed that there are a lot of roof replacements happening. Some of that is a result of roofing companies “working a block”, which is offering better pricing if multiple homeowners get their roofs done at the same time. But some is due to a genuine need as roofs age.

It is no surprise that we have been getting a lot of questions about mortgage rates over the last 12 months. At a basic level, the interest rate increases over the past year are a result of inflation, which the Federal Reserve has been trying to reign in.

You probably have noticed that The Kolb Team has updated its branding over the past few months. We have the more relaxed team photo taken on a couch in our backyard and fresh new listing and open house signs. Most importantly though, we have started to incorporate our two Bernese Mountain dogs in our branding!