Well, the first quarter of 2021 is already in the books, and inventory remains extremely low. Nationally, existing home sales declined 6.6% from January to February. No need to panic though, as sales were up 9.1% year-over-year – and the market was strong during February 2020. The 6.6% decrease earlier this year is due to low inventory combined with the 15.8% year-over-year appreciation.
There are signs that the reduced number of listings that has been going on for the past 12 months may be leveling out because the quantity has remained flat for a couple weeks in a row now. Traditionally, as we head into the summer months, inventory starts to rise nationally, so the leveling of the decline that we have seen is a good sign!
In January of 2019, we had over 18,000 active listings in the Phoenix metro area, while in January of this year, we only had a little over 6,000. New home permits in Greater Phoenix increased by 24% year-over-year in February, while nationwide permits decreased by over 10% during the same time period. Even though Maricopa County remains the fastest growing county in the country, as long as pending listings outpace active listings the current market frenzy will continue, and the wider that gap, the crazier that frenzy gets.
In Sun Lakes, inventory remains very low, with active listings hovering in the 20s. It may seem like people are not listing their homes, but that is simply not true. Let’s look at a few statistics from the first quarter of this year and weigh them against previous years:
- We had 218 closings in the 1st quarter of 2021, compared to 190 in 2020 and 164 in 2019!
- Average sale price in the 1st quarter was $376,257, up 11% from the first quarter of 2020 and up 18.8% from 2019!
- Average days on market was 36 in the first quarter of 2021, compared to 59 in 2020 and 52 in 2019!
Homes are selling faster and at much higher prices than last year, and at least in Sun Lakes, there is no sign of slowing down (bearing in mind we usually have fewer listings heading into the hotter months when all the snowbirds and renters are back up north).
It is, of course, hard to predict what the next quarter will bring, but all indications are for more of the same. It is a great time to sell your home, and it is a challenging time to buy a home. The Kolb Team is here to help you navigate through this very unique market whether you are buying or selling.
SPDS - Seller Property Disclosure Statement
When in Doubt… Disclose!
Seller Property Disclosure Statement (SPDS) is designed to assist you, the seller!
The SPDS assists sellers in making legally required disclosures, helping to avoid inadvertent nondisclosure of material facts. Therefore, the seller’s obligation - by law - is to disclose all of the known important facts about the property. The SPDS is a 6-page document with 6 general sections.
The 6 Sections of the Seller Property Disclosure Statement
- Ownership and Property. General information such as location, ownership, and occupancy.
- Building and Safety Information. Chiefly, this is physical aspects of the property. A seller will disclose any past or present problems with the property, any work improvements to the home, and also any current or past presence of termites and any treatment for them.
- Here you will identify whether the property receives specific utilities along with the providers / vendors. Also, you will disclose water source and any drinking water issues.
- Environmental Information for the Property. In this section, a variety of information needs disclosure, Including issues relating to soil settlement and expansion; and likewise, with regard to soil, any issues with drainage, grade, or erosion. In this section, any problems with airport or traffic noise, odors, and other nuisances are disclosed as well. Notably, mold growth is an important aspect of the environmental information section. For instance, mold can be present where there has been water damage, excessive moisture, or flooding, So, consequently, all water leaks, water damage, and moisture must be disclosed.
- Sewer and Wastewater Treatment. Arizona’s Sun Lakes has a connection to a private wastewater plant (Pima Utilities). Many homes around the Phoenix area do not have a connection to sewer and are represented otherwise. Significantly, it is important to answer all questions regarding this issue.
- Other Conditions and Factors. This additional space is available for the disclosure of any other important information concerning the property.
What is not required to be disclosed?
By law, sellers are under no obligation to disclose that the property is or has been the site of a natural death, nor suicide, homicide, or any other crime classified as a felony that occurred in the home. There is no obligation to disclose that the homeowner is a person with exposure to HIV or has a diagnosis of AIDS, or that the home is in the vicinity of a sex offender. However, the law does not protect a seller who makes an intentional misrepresentation. If any of these are important to you, neighbors are always willing to talk and may be a good resource for your due diligence.
Disclosure is Your Friend
Your real estate agent cannot complete the form for you but can provide valuable assistance in answering your questions. Your real estate agent is required to disclose any item that may have a material impact on the buyer, whether or not you (the homeowner) disclose it. Avoid a potential lawsuit down the road and disclose, disclose, disclose!
Searching for That Perfect Home?
When looking at pictures online, it can be tricky to figure out the layout of a home. We can help you with that! On our website, you can access the most popular floor plans in Sun Lakes, AZ. Just click the button below!
Not All Realtors® Are Created Equal!
When it comes to quality of service, The Kolb Team does more for you!
- Our team knows the local active adult communities better than anyone else because all of us live, work, volunteer, and play in Sun Lakes.
- We have a full-time licensed real estate assistant to help with all steps of the transaction to make sure you don’t miss any costly deadlines, avoid delayed closings, and reduce your stress.
- We forge relationships with our clients, and we go the extra mile to help with signing and we even drive our clients to appointments and more.
- Unlike other agents, we return all phone calls and messages promptly.
- We have a vast network of trusted and time-tested vendors for everything you need to prepare your house for sale, including repairs, and we help coordinate it all even if you are out of the area.
- We offer the most competitive commission rates in Sun Lakes.
- Other agents might offer discounts and little service. We offer the most competitive rates and never discount our service.
To us you are more than a transaction. Experience the difference!
Strawberry Iced Tea Fizz
Ingredients:
- 1 qt strawberries
- ½ c sugar
- 5 c boiling water
- 1 tea bag
- 12 oz can frozen lemonade concentrate
- 1 qt chilled club soda
Directions
- Combine strawberries and sugar; set aside.
- In a large bowl, pour water over tea bag; allow to steep for 5 minutes.
- Discard tea bag and cool brewed tea to room temperature.
- Stir in strawberries and lemonade concentrate. Chill well.
- Just prior to serving, add in club soda and stir gently.
Vendor of the Month
Acme Grill Cleaning is a family-owned and operated business in the Phoenix valley. They provide a complete service for barbecues that safely removes all traces of grease, fat, and carbon deposits. They pride themselves on providing mobile, on-time, professional service with flexible scheduling.
Just call or message us if you would like a copy of our Preferred Vendor list!
Giving Back
Keller Williams Red Day is a day when all KW agents take the day off from real estate business to give back to our communities. To mark this year’s occasion, we are hosting a food drive to benefit one of our favorite organizations, Jacob’s Mission Community Center, which supports foster children and their families.
- Buyer looking for 2BR, 2BA home + den with a pool and spa. 2½ car garage.
- Buyers wanting to be closer to family in Tempe. Looking for 2+ BR, 2½ car garage. Would love a view.
- Buyer from Tennessee looking for a 2-story with a pool and great outdoor space. Prefers north/south facing.
- Buyer looking in Cottonwood for a 2BR, 2BA home with a great back yard for entertaining..
April is All About our Earth
April is a month when our home, Earth, is front and center, and it’s pretty apropos, consider the spring flowers blooming, fields coming to life, and the change to warmer weather. This month is Keep America Beautiful Month, as well as Earth Day, which is celebrated on April 22nd every year. While many communities have events, you can also mark the occasion, too, even in your own backyard.
The very first Earth Day happened in 1970, and now over 190 countries recognize the event and are engaged in Earth-positive action. In 1990, this day to honor and protect our very own third rock from the sun went global, and was a catalyst for both worldwide recycling efforts and the 1992 UN Earth Summit in Rio de Janeiro. From the beginnings until now, there have been events and initiatives that locals can attend or adhere to that honor this same spirit.
Keep America Beautiful Month
The Girl Scouts and Boy Scouts of America (respectively) and Keep America Beautiful, Inc worked together, and in 1971, founded a day dedicated to maintaining our country’s beauty. By 1982, the celebration grew to a week-long event with cities and schools involved, and by 1984, it was clear community improvement was an important enough pursuit to designate an entire month to be mindful of doing so. The US-based non-profit Keep America Beautiful Foundation has three basic tenets or goals: reducing waste, preventing litter, and beautifying communities. The organization believes that our neighborhoods can be kept clean if those living in it band together with the same purpose and desire.
There are three recommended ways to observe Keep America Beautiful Month:
- Repurpose and reuse items to help reduce waste. YouTube is a goldmine of DIY projects using goods you already have, as well as ideas to stretch the things we buy further. If something can’t be given a new life in your home, be sure to look into recycling and donation options.
- Don’t be a litterbug, and teach your family members (especially the young ones) to throw trash away where it belongs and recycle when possible. Both important to the community and a surprisingly fun activity for a group of neighbors or families is to adopt a location to “beautify”! Simply don some protective gloves and bright colored clothes so you can be clearly seen, then grab a trash bag and start removing the litter on your street, the local park, or even certain roadways that have the Adopt-A-Highway option.
- The neighborhood is made up of individual houses and yards, so start the beautification at home. Leaves, fallen branches, weeds, and the occasional disposal of someone’s soda bottle or hamburger wrapper are common to find when we step outside. Let’s keep these pesky lawn invaders in check, and spruce up the yard with some flowers, a garden, or a tree that will grow to provide you much needed shade from the scorching Arizona sun. As always, check the HOA CC&Rs for what options are within their guidelines.
Earth Day
On April 22nd 1970, Senator Gaylord Nelson founded Earth Day, and since 1990, it has been a global event every year. Some people celebrate it by participating in rallies and protests to bring attention to climate change, pollution, and other related subjects, but there are ways you can acknowledge Earth Day in your own household. In addition to the suggestions above for Keep America Beautiful Month, you could also be mindful of Earth Day year-round by:
- Supporting green or sustainable businesses
- Trying to incorporate more reusable products and less disposable ones
- Visiting consignment and thrift stores to see if any of their gently used items would fit your needs
- Checking the energy-efficiency of your appliances
- Walking or riding your bike when safe or reasonable
- Condensing shopping trips into one big trip (perhaps weekly)
- Looking for products available to purchase in bulk by filling your own sustainable containers or items with reduced or recycled packaging
There are many simple ways every day to stay mindful of our Earth, and most only require remembering there are different options out there. We hope you are enjoying Keep America Beautiful Month, and may find some new ways that fit into your lifestyle to recognize Earth Day.
See What Our Clients Are Saying!
"The Kolb Team is the most professional, knowledgeable, and media savvy real estate team we have ever used!"
Kay and John
- Ohio
We Are Committed to Helping End Polio Now!
We will donate $100 in your name to end polio around the world, when you list your home for sale with us!
You may also donate directly here
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Real Estate Update
Wondering about your Neighbor’s Home Sales Price? Find out here to see what sold last month. The report is broken down by HOA, address, and floor plan (if the agent listed the model in MLS).
