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Welcome to Jackie Lind, Realtor®, where luxury meets excellence in the world of real estate. For affluent home buyers, sellers, and investors seeking properties in the mid to high price range of $800,000 to $1,200,000, our platform is your gateway to unparalleled opportunities. Whether you're on the hunt for your dream home, exploring lucrative investment options, or planning to sell your upscale property at its true value, we're here to cater to your unique needs.
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Our website has been meticulously designed with discerning clients like you in mind. It's the only platform you'll ever need, providing a seamless and informative experience that matches your refined taste. Rest assured, our listings are updated with the utmost precision, drawing data from the official Realtor®’s database, refreshed every 15 minutes.
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In the world of luxury real estate, timing is everything. With Jackie Lind, Realtor®, you'll never miss a golden opportunity. You can effortlessly save your searches and receive daily email alerts for new listings, price fluctuations, sold property data, and comprehensive market reports. Knowledge is power, and we empower you to make well-informed decisions.
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Curious about the pulse of your neighborhood? Our custom market reports offer you exclusive insights. Discover what's currently active, under contract, and recently sold in your area. Stay ahead of the curve with our precise market intelligence.
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We understand that your real estate interests may extend beyond state lines. That's why we offer a premium referral service for out-of-state agents. Our extensive network ensures that you have access to top-tier professionals wherever your real estate journey takes you.
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At Jackie Lind, Realtor®, we're not just here to provide information; we're here to cater to your unique needs. Our team of dedicated professionals is ready to help you navigate the intricacies of the luxury real estate market. Whether you're buying, selling, investing, or seeking guidance, we're just a message or call away.
Are you ready to embark on your journey in the Valley's luxury real estate landscape? Contact us today to explore how we can be of exceptional assistance to you. Your vision of opulent living awaits, and we're here to make it a reality.
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Rising interest rates and stricter lending standards are also contributing to the market volatility.
Is this the end of the housing market in Phoenix? Between all the new construction, rising interest rates, and stricter lending standards, it seems like the Greater Phoenix real estate market has taken a major hit. But is this the end of the housing market in Phoenix? According to our latest data, home prices in the Phoenix metro area have decreased by 1. 5% over the past month, and they're down by more than 5% over the past year! But fear not market lovers, since our data only reflects the current market conditions (so things could feasibly go back up in the future). So what's causing all of this mayhem? Well, for starters, there's the rising interest rates. According to our LendingTree research, interest rates on 30-year mortgages have surged by almost 3% in the past year, and this has had a big impact on home prices. Additionally, stricter lending standards are now being enforced by the banks, which is making it harder for people to get mortgages. And finally, there's the big issue of new construction. In the past year, there's been a ton of development going on in the Phoenix area, which has made the housing market much more expensive. So if you're looking to buy a home in the Greater Phoenix area, you might want to act fast!
Important Distinction: Homes Are Less Affordable, Not Unaffordable
It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been.
Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report reveals:
“The monthly payment required to purchase the average priced home with a 20% down 30-year fixed rate mortgage increased by nearly 20% (+$210) over the first nine months of 2021, . . . It now requires 21.6% of the median household income to make the monthly mortgage payment on the average home purchase, the least affordable housing has been since 30-year rates rose to nearly 5% back in late 2018.”
Basically, the report shows that homes are less affordable today than at any other time in the last three years. However, in a previous report earlier this year, Black Knight calculated that the percentage of the median household income to make the monthly mortgage payment on the average home purchase over the last 25 years was 23.6% (see graph below):
Today’s payment-to-income ratio is more affordable than the average over the last 25 years. Given that context, we can see that American households still have the same ability to be homeowners as their parents did 20 years ago.
This confirms the recent analysis of ATTOM Data resources where Todd Teta, Chief Product and Technology Officer, explains:
“The typical median-priced home around the U.S. remains affordable to workers earning an average wage, despite prices that keep going through the roof. Super-low interests and rising pay continue to be the main reasons why.”
Bottom Line
It’s true that it’s less affordable to buy a home today than it has been the last few years. However, it’s more affordable to buy today than the average over the last 25 years. In other words, homes are less affordable, but they’re not unaffordable. That’s an important distinction.
Your Home Equity Is Growing
![Your Home Equity Is Growing [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/10/18091034/20211022-MEM-1046x2053.png)
Some Highlights
- If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year.
- Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams.
- Ready to sell? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals.
This Hot Market is Starting to Cool - a Little!
As home prices increase, we are finally seeing demand cool A BIT. It is still strong, however, because of low inventory. This is an excellent time to sell because you can still get top dollar. However, a lot of people are wondering when they should buy. The experts agree that this is the time to buy as well. With low interest rates, your purchasing power will get you into a more expensive house than if rates increase. Also, the prices of houses are cooling off a little bit. No expert in the industry is forecasting prices falling. So this is the bottom before normal appreciation begins.
We are seeing 7 cities moving in favor of a Seller's Market (green arrows) and now are JUST STARTING to see 10 cities moving in favor of Buyers (red arrows).
This does NOT mean prices will fall. It means that no more fuel is being added to the rocket that is taking price higher over the coming months. It still has a massive amount of fuel already on board. But as prices rise, demand should fall and gradually bring us back to some semblance of normalcy.
Curious About Local Real Estate?
Receive the Latest Local Market Stats
Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!
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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.
We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.