Real Estate Information

Phoenix Arizona Real Estate Blog

The Russo Team

Blog

Displaying blog entries 1-10 of 374

May 2017 RE/MAX National Housing Report

by The Russo Team

May 2017 RE/MAX National Housing Report

The brisk start to the 2017 home-selling season slowed down in April with home sales dropping 4.1 percent below March and 4.5 percent below the previous April, according to this month’s RE/MAX National Housing Report. More than three quarters of the report’s fifty-three metro areas saw April home sales decline year-over-year. By contrast, March posted a 6.6 percent year-over-year spike in sales. Even so, April saw homes sell for more than they did in March in 81 percent of the markets, while 92 percent of the markets saw higher year-over-year sale prices.

Yet the narrative of the ever-tightening inventory coupled with increased prices persisted, as the fifty-three metro area report saw the trends of a seller’s market continuing:

  • The average number of Days on Market declined for the third consecutive month and April’s fifty-seven days set a new low for April in the report’s nine-year history.
  • The Median Sales Price of $226,000 was the highest price for any April and marked the 13th consecutive month of year-over-year price increases.
  • Months Supply of Inventory, which dropped below three months in March for the first time in the report’s history, was 2.8. A months supply of less than 6.0 is considered a seller’s market.
  • Inventory was down 17.6 percent from April 2016.

“We may be seeing some frustration from buyers,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Inventory is tighter than ever, while strong demand keeps driving up home prices. At the same time, many potential sellers may also be reluctant to list their homes because the tight inventory might impact them as buyers. Home buyers and sellers will need to work with experienced real estate agents to navigate this tough market.”

Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

The American History of Mother’s Day

by The Russo Team

The American History of Mother’s Day

Celebrations of mothers and motherhood can be traced back to the ancient Greeks and Romans, who held festivals in honor of the mother goddesses Rhea and Cybele, but the clearest modern precedent for Mother’s Day is the early Christian festival known as “Mothering Sunday.”

The origins of Mother’s Day as celebrated in the United States date back to the 19th century. In the years before the Civil War, Ann Reeves Jarvis of West Virginia helped start “Mothers’ Day Work Clubs” to teach local women how to properly care for their children. These clubs later became a unifying force in a region of the country still divided over the Civil War. In 1868 Jarvis organized “Mothers’ Friendship Day,” at which mothers gathered with former Union and Confederate soldiers to promote reconciliation. Following her mother’s 1905 death, Anna Jarvis conceived of Mother’s Day as a way of honoring the sacrifices mothers made for their children.

After gaining financial backing from a Philadelphia department store owner named John Wanamaker, in May 1908 she organized the first official Mother’s Day celebration at a Methodist church in Grafton, West Virginia. That same day also saw thousands of people attend a Mother’s Day event at one of Wanamaker’s retail stores in Philadelphia.

Following the success of her first Mother’s Day, Jarvis—who remained unmarried and childless her whole life—resolved to see her holiday added to the national calendar. Arguing that American holidays were biased toward male achievements, she started a massive letter writing campaign to newspapers and prominent politicians urging the adoption of a special day honoring motherhood.

By 1912 many states, towns and churches had adopted Mother’s Day as an annual holiday, and Jarvis had established the Mother’s Day International Association to help promote her cause. Her persistence paid off in 1914 when President Woodrow Wilson signed a measure officially establishing the second Sunday in May as Mother’s Day.

And now you know the American history of Mother’s Day. Happy Mother’s Day from the Russo Team!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

The Russo Team May 2017 Newsletter

by The Russo Team

Please enjoy The Russo Team Newsletter for May 2017!


See more:  http://www.russoteam.com/agent_files/170427_RussoNewsletter_May17_4UP_FINAL.pdf

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

Proudly Celebrating 25 Years of Miracles

by The Russo Team

Proudly Celebrating 25 Years of Miracles

Every minute, 62 children enter a Children’s Miracle Network Hospital for treatment; every 30 seconds, a RE/MAX agent helps someone find their perfect place. Since 1992, RE/MAX agents and brokers have invested in the well-being of their local communities by raising more than $150 million for 170 Children’s Miracle Network Hospitals.

In 2016, RE/MAX Affiliates in the U.S. and Canada donated over $10 million to 170 Children’s Miracle Network Hospitals through the Miracle Home and Miracle Property programs. Here at RE/MAX Professionals, our agents donated over $40,000 to our local Phoenix Children’s Hospital last year.

For every home that is sold, a part of our commission is donated to PCH in your honor. We have you to thank for this prestigious recognition, because without your continued trust in us as your preferred real estate company, we would not be able to make this kind of impact for the children in our community.

Here is to celebrating another 25 years of miracles. The Russo Team thanks you for making that possible.

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

April 2017 RE/MAX National Housing Report

by The Russo Team

April 2017 RE/MAX National Housing Report

March launched the home-buying season with post-recession records for increasing home sales and prices and decreasing inventory, according to this month’s RE/MAX National Housing Report that surveys fifty-three metro areas. Last month, home sales were 6.6 percent higher than the nine-year-old report’s previous March record, set in 2016. Thirty-eight of the fifty-three metro areas in the report showed year-over-year increases.

Meanwhile, Months Supply of Inventory dropped below three months for the first time in the history of the report, indicating a market that greatly favors sellers, as six months is considered a balanced market. Active inventory continued to decline, dropping 17 percent year-over-year. As a result, the Median Sales Price of $225,000—also a March record—was up eleven percent year-over-year. This was the twelth consecutive month of year-over-year price increases.

“We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.”

Looking to sell your Phoenix home or buy a home in Phoenix? Contact the RussoTeam today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

6 Strange Superstitions about Easter You Never Knew

by The Russo Team

6 Strange Superstitions about Easter You Never Knew

All the fun things about Easter traditions have been around for years. Everything from bunnies to hunting for eggs has been celebrated by many cultures. However some of those cultures also have superstitions attached to the holiday. Here are 6 strange superstitions about Easter you never knew!  

1.) Love: If you get engaged on Easter, you won’t get married.

2.) New clothes: If you don’t wear at least one item of new clothing on Easter, your tired old outfit will get pooped on by birds or spat on by dogs.

3.) Money: Always slip a small coin into the right-hand pocket of a new suit or dress, to avoid being broke and out of money when you wear that item of clothing.

4.) Hats: Wearing a new bonnet on Easter is lucky — even more so if a bird poops on it.

5.) Activities: It’s good luck to throw water on yourself and someone else for two days after Easter

6.) Eggs: Painting eggs red at Easter is seen as good luck, as it is the cooler of blood and life.

Whichever of these 6 strange superstitions about Easter you decide to try…or try to avoid, The Russo Team hopes you have a Happy Easter!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com
602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

The Russo Team Newsletter April 2017

by The Russo Team

Please click below for The Russo Team Newsletter for April 2017.

 http://www.russoteam.com/agent_files/170329_RussoNewsletter_APR17_4UP.pdf

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

March 2017 RE/MAX National Housing Report

by The Russo Team

March 2017 RE/MAX National Housing Report

February home prices reached a new high as steady demand combined with record low inventory drove prices up, according to the March 2017 RE/MAX National Housing Report that surveys fifty-three metro areas every month.

Last month saw a negligible decline in home sales from February 2016, which posted the most sales in the nine-year history of the report. Less than half of the markets experienced an increase in sales year-over-year. Meanwhile, active inventory reached a record low for February, dropping 17.9 percent year-over-year. This marks the 100th consecutive month of year-over-year declines dating back to October 2008. As a result, the Median Sales Price of $212,000 – another February record – was up six percent year-over-year. This is the eleventh consecutive month of year-over-year price increases.

“Inventory, not the rise in interest rates, remains the principal constraint on home sales,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “The resale market is driven dramatically by the availability of new homes. Most U.S. markets have a high demand for new home construction, and although it’s good to see housing starts trending upward, we still need more.”

The average Days on Market for homes sold in February 2017 was sixty-eight, up two days from the average in January 2017, but down seven days from the February 2016 average. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Click here to download your copy of the March 2017 RE/MAX National Housing Report. Looking to sell your Phoenix home or buy a home in Phoenix? Contact the RussoTeam today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

 

Possible Glendale Midtown District Revitalization Underway

by The Russo Team

Possible Glendale Midtown District Revitalization Underway

For years, the City of Glendale has invested time and money to jump-start its decaying downtown due to the closing auto businesses in the early 2000s but to no avail. Vacancy rates, population drop and unemployment rates continued to surpass the rest of Glendale. Last week, a report with recommendations to revitalize the area was unveiled to the City Council in workshop.

Urban Land Institute’s study, funded by a grant, focuses primary on what is known as the Midtown District, which runs along the Glendale Avenue corridor bounded by 43rd and 51st avenues and Myrtle Avenue and Ocotillo Road. Although Midtown is ripe for revitalization it has its challenges such as low-performing schools and a lack of a consistent vision by policymakers. Another drawback is the uncertainty if light rail will come, which is keeping landowners and developers from moving forward with developing vacant lots and filling empty buildings. 

Midtown District revitalization recommendations include:

  • Create a one-stop, business advocacy liaison in City Hall
  • Invest in downtown with branding and beautification
  • Activate underused properties with temporary uses and pop-ups
  • Focus on smaller, signature schools
  • Encourage neighborhood-oriented schools and joint-use policies
  • Leverage state and federal housing programs
  • Support business incubators and co-working spaces
  • Facility land assembly now
  • Stabilize underlying neighborhood conditions such as perceived safety issues and blight

Glendale’s Midtown District offers a competitive rent structure and housing stock and offers lower rents for start-up opportunities. Glendale’s downtown has a number of strengths, including its historic assets and availability of city-owned land, which gives it a remarkable leg-up. For more local valley news or if you are looking to buy a home in Phoenix, please contact The Russo Team today.

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

Be Cautious of Snakes this Spring

by The Russo Team

Be Cautious of Snakes this Spring

March 20th is the first day of spring and easily one of the most anticipated seasons in Arizona. Everything from camping in Arizona to various outdoor festivals and events are available for everyone to enjoy valley wide. But the new season also brings something else; snake bites. In fact the spike in snake bites has become a rite of late spring, according to hospital officials at Banner University Medical Center Phoenix, the hospital in Maricopa County that specializes in treating snake bites.

Banner Hospital sees about fifty snake-bite patients a year, the most in the Southwest, according to Dr. Frank Lovecchio, co-medical director of Banner Poison and Drug Information Center. "When snakes sense a little bit of heat and humidity, they come out," Lovecchio said. "The snakes are hibernating most of the year and now they are starting to come out.”

It’s important for Arizona residents and out of town visitors to be cautious of snakes this spring when outdoors. Suggested tips include:

  • Rattlesnakes are most active in the evening and a night when they do most of their hunting. They are usually very active in the early spring after remaining inactive during the winter months.
  • It's best not to hike in wilderness areas after dark. Carry a walking stick and keep it forward to let snakes know you are approaching their area.
  • If you come across a rattlesnake, observe its beauty from a distance and let the snake go on its way.
  • If you hear the "rattle", freeze. Look carefully to locate the rattlesnake and move slowly in the opposite direction.

If you happen to see a rattlesnake on your property, call a local agency that can help remove the reptile. If you are bitten by a rattlesnake get to an emergency room right away or call the national network of poison-control centers immediately at 800-222-1222 if you are quite a distance away. Stay safe and enjoy Arizona’s beautiful spring weather!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

Search the MLS Now!

Join us on Facebook and Twitter

Displaying blog entries 1-10 of 374

Syndication

Categories

Archives

RE/MAX Professionals. Each office independently owned and operated.