2022 Green Valley News INSIDERS

  You might  be surprised to know that December is the perfect time to buy a home in  Green Valley. First of all, the good news is the inventory of homes in  Green Valley has improved over the past few months!

And, there are great reasons to buy during this holiday season:

•  Less Competition from other home buyers. Even though some of the  snowbirds are here, the seasonal renters are not here yet. Most buyers  are looking to buy presents, not houses.

• Motivated Home Sellers.  Most sellers are selling over the holiday season for a reason. They  want to make a move – and move on -- before the new year.

• Faster Closings. The title companies are not as busy this month and are looking to close homes before the year’s end.

• Motivated Agents. Agents aren’t as busy this time of year and will have plenty of time to give you lots of personal service.

•  Holiday Spirit. Home sellers have that holiday spirit and, filled with  good cheer, might be willing to make a better deal this time of year.

Wishing you all a Merry Christmas and a Happy New Year.

And may 2023 bring us all health and happiness !!!

I have over 23 years of selling homes in Green Valley, so if you need a Green Valley REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

When selling your home, there are  low-cost steps you can take to make sure it looks inviting and gives off  a great vibe once prospective buyers enter. This is called “staging.”

Staging your home can sometimes be the difference between a great offer and no offer at all.

Make it look big

Sometimes  less is more. To make your home look as big as possible, rearrange your  furniture and remove extra pieces. Add color with new throw pillows in  the living room, flowers in the entry and fresh fruit in the kitchen.

Use the “Rule of 3” in the kitchen and bathroom: only three things on each countertop and  no more. Put the blender and toaster away. Unless you’re baking cookies  for the open house, put the mixer away.

Set the mood

• Make your home light and bright. Open all window coverings and turn on the lights. Nobody likes a dark home.

• Turn on the air/heat. If it’s 104 outside, make the buyers want to stay and not rush off.

• Take down family photos. Buyers want to picture themselves in the home and not your family. Remember that you are selling, not buying.

It’s always important to “Shop Local” – Use a Green Valley Realtor

I have over 23 years’ experience selling homes in Green Valley, so if you need a Green Valley REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com, www.MrGreenValley.com.

 The Green Valley housing market is  always complicated. Now we have higher interest rates, the stock market  going down and inflation is up. So what is happening?

Current housing numbers

Green Valley homes for sale:

72 single family, 38 townhomes, 4 condos.

Homes under contract: 38 single family, 37 townhomes, 12 condos.

Quail Creek: 16 homes for sale; 9 under contract

Inventory is up

The inventory of homes is up about 25%. About 50% fewer homes were under contact over the past 3 months than earlier this year.

If  you are looking for a single-family home or townhome under $250,000,  there are only 13 to choose from and under $300,000 just 36 homes (10  more from three months ago). A few months ago, it was hard finding a  home with a pool and now there are 5.

Market slower but prices hold

So  the answer to the question is: Yes, the Green Valley Real Estate market  is slowing down, but prices have been holding firm. I just saw a new  listing in a neighborhood I specialize in. I believed it was underpriced  by over $35,000 and it went under contract in just a few days.

There are good opportunities for both buyers and sellers.

I have over 23 years’ experience selling homes in Green Valley, so if you need a Green Valley REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

At some point, your home may become  too much to handle. Whether you are moving closer to family or to a  smaller place, you are probably wondering: “What will I do with all my  stuff?”

Hiring a  professional estate sales company can make this tough chore a lot  easier. Estate sales are not just for rich folks; your stuff is part of  your estate.

Here are a few tips for the sale:

• Pick a good Realtor who will help coordinate the estate sale with the sale of your home.

• Remove the items you want to keep because they will sell everything and once it’s gone, it’s gone.

• If you’re selling for a deceased family member, check books, clothes and furniture for hidden money and valuables.

• Invite your family to take items they want so treasured keepsakes remain in the family to be cherished by loved ones.

•  Interview several estate sale companies. Their fees are often around  30% of the sales, but worth it as they know current prices and how to  run a sale.

• Donate  the rest to a local thrift shop that will pick it all up. Be sure to get  a receipt so you can claim a tax deduction for the donations.

If you are looking to buy or sell your current home, call a great local Green Valley real estate expert, Scott Chancellor, Realty Executives Arizona Territory at (520) 360-6973. Scott@MrGreenValley.com www.MrGreenValley.com

Have you ever wondered why some homes  sell quickly while others sit on the market for weeks? Here are some  common mistakes to avoid:

• Over or Under Pricing Your Home – An overpriced home keeps buyers away, while an underpriced home could cost you thousands of dollars.

• Using Bad Photos – Today’s buyers start their home search online, making decisions on what  homes they want to see without having to leave their computers.

• Leaving Dirt and Clutter – One of the least expensive things you can do is clear away clutter and  clean; buyers won’t spend time viewing a dirty home. Dirty and cluttered  homes kill their value, leaving you with low-ball offers.

• Overlooking Outdoor Spaces – The patio, decks and yard around your home are as important as the  indoor areas. As the first things people see, they can make a good or  bad first impression.

In Arizona, we live outside. It’s an extra living room, so make sure it looks inviting!

• Hiding Problems – Buyers will find what you’re hiding, and wonder what other problems you are hiding.

• Neglecting Repairs – Buyers don’t want to do repairs and don’t want to buy your problems.

Always remember to use a local Green Valley Realtor. They are the experts on selling Green Valley homes.

If you are looking to buy or sell your home, call a great local Green Valley real estate expert, Scott Chancellor, Realty Executives Arizona Territory at (520) 360-6973. Scott@MrGreenValley.com www.MrGreenValley.com

We are halfway through 2022. The summer is hot and so is our housing market.

With higher interest rates, rising gas prices, inflation, and the unsteady stock market, I hear the same questions every day:

“What is happening in the real estate market now? What will happen in the future?”

These are great questions.

Here are the current Green Valley area Housing Numbers:

For sale:

• Green Valley - 57 single family, 29 townhomes, 3 condos

• Quail Creek - 8

Under contract:

• Green Valley - 42 single family, 29 townhomes, 9 condos

• Quail Creek - 10

Only 6 single family and 21 townhomes are under $300,000; 11 have 3-car garages with the average price of $555,000.

In the past 6 months, 794 homes were sold in Green Valley and Quail Creek.

So,  the answer to the first question is the Green Valley real estate market  is still hot. What’s going to happen in the future? That is anybody’s  guess.

Have a Happy 4th of July

I have over 22 years of selling homes in Green Valley, so if you need a Green Valley REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

Green Valley home buyers and sellers  are concerned about many things, but most give very little thought to  the Purchase Contract. Yet, the Purchase Contract is the most important  part of any home sale.

In  Arizona, all home purchase contracts, and any changes made to them, must  be in writing and agreed to by all parties. All Arizona Realtors® use  the same standard contract that has been approved by the Arizona  Association of Realtors® (AAR). It is designed to protect both parties  in the transaction. If you are buying or selling, make sure you are  using the AAR Purchase Contract.

I  received a call from a gentleman who said he lost his earnest money to  the real estate agent when he canceled a purchase agreement. I explained  that agents never keep the earnest money; it is either returned to the  buyer or given to the seller. It would be very rare that the agent would  claim a commission on a canceled agreement.

If there is ever a question about the transaction, remember,

“It’s in the contract.”

Before  signing any agreement, make sure you go over it with your agent. They  know all about this contract and can answer all of your questions.

I have over 41 years of experience selling homes in Southern Arizona, so if you need a REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Associate Broker, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

Interest rates are up over 5% now, an increase of 2% from just a year ago.

How will higher interest rates affect home sales in Green Valley? Will home prices come down? There are many things to consider.

The  Federal Reserve System, “the Fed,” controls interest rates, and each  lending company will have slightly different interest rates depending on  their company cost. Normally, in a strong market, interest rates will  go up; this can help control pricing on housing. Interest rates can be  lowered to help spur the housing market. The problem we have now is that  the interest rate is being used to fight inflation.

So  the simple answer is that buyers financing today have less buying power  than they had just a few months ago. This could end up pricing some  buyers out of the market.

Supply and demand keep market strong

I believe in the next year our real estate market is set to stay strong for several reasons:

• Lack of inventory

• Surplus of buyers

• Cash – Cash buyers are unaffected by higher rates

I  remember my 1st home purchase. The interest rate was over 10% and I  felt lucky to get it. Today’s 5% rate still looks like a bargain..

I have over 20 years of experience selling homes in Green Valley, so if you need a REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Associate Broker, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

Most people have never heard of  Buyer’s Fatigue. But, if you’ve been looking for a home in Green Valley,  there’s a good chance you have experienced it.

Buyer’s  Fatigue is when you get overwhelmed in trying to buy a home without  success. There are more buyers than homes for sale, and few homes for  sale at some price points.

For  an example: Green Valley currently has 1 single-family home for sale  under $250,000 and only 5 under $300,000. Your offers keep getting beat  by other offers and, in some cases, homes are sold before you can even  get out to look. Some frustrated buyers even give up hope of finding  that perfect home, and they stop looking.

What should a buyer do? Don’t get discouraged. Instead:

• Be patient,

• Make your 1st offer your best offer.

• Have all ducks in a row. Be ready to make an offer. No waiting.

• Get Home Alerts sent to you as soon as they hit the market. (A good Realtor can set this up).

• It’s OK to take some time off and regroup.

Remember,  the home you see today and plan to think about tonight is the same home  that someone else saw yesterday and will buy today.

I have over 20 years of experience selling homes in Green Valley, so if you need a REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Associate Broker, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

Every day someone asks me, “What’s happening in the real estate market right now? And what’s going to happen in the future?”

These are great questions. Here’s what I know.

Still a record low inventory of homes for sale

Green Valley homes for sale: 55 single family, 25 townhomes, 9 condos; 97 single family, 58 townhomes, 15 condos under contract

Quail Creek: 8 homes for sale; 28 under contract

In the past 6 months 546 homes sold in Green Valley and another 89 homes sold in Quail Creek.

It’s a great time to sell!

If  you are looking for a single family home or townhome under $200,000,  there are only 3 to choose from. Under $300,000 just 26 homes are  available.

As  you can see, our inventory of homes is still at record lows, so it’s a  great time to sell. And if you’re looking to buy, look quickly and  submit your best offer.

So  the answer to the question is the Green Valley Real Estate market is  still hot. What’s going to happen in the future? That is anybody’s  guess.

Remember,  the home you see today and plan to think about tonight is the same home  that someone else saw yesterday and will buy today.

I have over 20 years experience selling homes in Green Valley, so if you need a Green Valley REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.

If you own a rental home there are  many things to consider. With our Green Valley real estate market at  all-time highs, you may be wondering if it’s a good time to sell your  rental.

Here are a few BIG reasons to sell now

• High Sales Prices - Real Estate Market is at an all-time high. This could be the time to maximize your profit.

• Maintenance Issues – enjoy life more without the worries of a major repair.

• Tenant Issues – everything from damages to collecting rents to the difficulty of raising rents.

• Taxes – Possible higher capital gains taxes in the future.

Here are some reasons not to sell:

• Monthly Income. Getting a rent check every month can be financially beneficial.

• Seasonal Rentals – Get top money with less wear and tear on your home.

• Fewer Rentals – With so many rentals being sold, you could get higher rents in the future.

• Appreciation – your home could be worth more if you wait.

It’s  impossible to time the market just right. You can gamble on the future,  or this could be the time to take advantage of today’s hot real estate  market.

I have over 20 years of experience selling homes in Green Valley, so if you need a REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Associate Broker, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com..

So what’s going to happen with the  Green Valley housing market in 2022? I get this question all the time.  Nobody knows for sure what the future holds, but it’s always fun to make  some educated guesses.

Here are a few predictions for the coming year:

Housing Market will stay strong. The inventory of homes will remain low and probably stay this way  through the coming year. I don’t believe it will be as crazy though;  bidding wars should be a thing of the past. Buyers are not going to be  panic buying, in the fear of missing out. Lower priced homes will still  be in very short supply.

Interest rates will go up. Interest rates have been at all-time lows for years. I expect to see  the rise in interest rates to help control inflation. If you are  considering refinancing, now is the time. Don’t miss your opportunity.

Canoa Ranch to start up again. This one is a long shot, but I expect to see some movement in the land  around the golf course at Canoa Ranch. These home sites will feature  some of the best views of the Santa Rita Mountains in Green Valley.

Have a Very Happy and Healthy New Year !!!

I have over 20 years of experience selling homes in Green Valley, so if you need a REALTOR®, call me, your Local Green Valley Real Estate Expert, Scott Chancellor, Associate Broker, Realty Executives Arizona Territory at 520-360-6973, Scott@MrGreenValley.com www.MrGreenValley.com.