Cheryl Was Readily Available For Us

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“We are so thankful to Cheryl and the Sibbach team for helping us purchase a home in this unprecedented real estate market. Cheryl was readily available for us throughout the process. She is always very patient and never high-pressure. Her experience in the field gave us great confidence in her ability to close the sale. We would gladly recommend both Cheryl and the Sibbach team and will continue to use them for future real estate purchases. Thank you all very much!”

-ZILLOW 5 STAR REVIEW

Chris Has Superb Communication Skills – 5 STAR REVIEW

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“Chris helped me with two transactions. I was especially impressed with his knowledge, expertise, and professionalism. His pleasant manner, attention to detail and complete follow through helped move us forward. He also maintained contact at critical junctures and has superb communication skills.”

-ZILLOW 5 STAR REVIEW

 

Cheryl Was Encouraging Every Step – 5 STAR REVIEW

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“Cheryl Park is the best realtor we could ask for. We worked with Cheryl previously and happily chose to do so again. She is experienced, knowledgeable, and very patient! In the process of selling our home, she was helpful and encouraging every step of the way. We needed to make repairs in short order and she helped us to coordinate that all smoothly. Her guidance and expertise made the stress of selling much more manageable. We are so thankful for you Cheryl! And thank you also to the Sibbach team for helping to evaluate the house to sell, coordinate the staging, keep us apprised of open house feedback, and closing the sale promptly. We highly recommend Cheryl and the Sibbach team for selling your next home. They are wonderful!”

-ZILLOW 5 STAR REVIEW

5 star review

10 Reasons to Work with a Local Realtor

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-Local Realtors will know why some homes on the same street are worth more than others.

-They can determine accurate prices on specific homes in the neighborhood.

-They may know who previously owned homes in the neighborhood, and why they sold them.

-They know which streets in a neighborhood are more desirable than others.

-They know the listing agents in the area and can negotiate with them and get the inside information.

-They can advise you on which agents take overpriced listings and which take listings at market value.

-They can refer you to local home inspectors, and they know if there are any inspections that should be performed that are specific to the area.

-They know about homeowners associations that may be in the neighborhood, and what their rules and regulations are.

-They know what attributes a buyer in that neighborhood should be seeking.

-They know what you need to know before you even have to ask! 

When you are ready to sell or buy your next home, give local real estate experts Chris and Cheryl a call! Chris 480-754-9077 & Cheryl 480-754-9477!

Phoenix is Fastest Growing City in U.S. for 5th Year in a Row

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This past year, Phoenix welcomed 25,194 new residents, this is slightly below the 10-year average of 25,912. Phoenix continues to take the largest share of Maricopa County’s population growth, with nearly four of every 10 new county residents choosing to live in the city of Phoenix. Maricopa County added more population than 36 states. Phoenix’s population growth also exceeded Austin, Texas, and Denver, Colorado, combined growth numbers.

The U.S. Census Bureau’s 2020 estimates reports that Phoenix’s population of 1.7 million and has added more new residents than any other city. Phoenix is still the fifth-largest U.S. city behind New York, Los Angeles, Chicago and Houston. Population losses in Chicago and Los Angeles were about the same amount that Phoenix gained, according to the Census. Phoenix leads the country in 10-year pollution growth by adding almost 260,000 people since 2010.

Queen Creek topped Arizona in percentage population growth (10.0 percent) with its population jumping from 55,000 in 2019 to 60,097 in 2020. That placed the town with the seventh-fastest growing percentage in the U.S. Buckeye was second in Arizona with a 7 percent growth rate. Tucson remains Arizona’s second largest city with its population growing 0.8 percent to 553,571, a gain of 4,610 people. Mesa had a 1.9 percent growth, with a current population of 528,129.

The next three most-populous Arizona cities are Chandler (265,398, up 1.6 percent), Scottsdale (262,647, also up 1.6 percent), and Gilbert (257,658, up 1.4 percent). In terms of percentage growth after Queen Creek and Buckeye, Marana and Casa Grande both grew 4.5 percent, and Maricopa and Goodyear both grew 4.4 percent.

Are you ready to move to Phoenix, or know someone who is ready? Have them give us a call to find their new home in the Valley of the Sun! Chris 480-754-9077 & Cheryl 480-754-9477

phoenix map

From Gloom to Bloom – June 2020 to June 2021

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Last year, 2020 – the ultimate “June Gloom”. This year, 2021 is bringing us “June Bloom”! See the red demand line in the chart coming down? How about the blue supply line that has just begun to sideways.

Historically speaking, summer is a busy season for real estate as families prefer to move when the kids are out of school, yet 2020 was an anomaly. Covid-19 test results were peaking last summer, so most of us stayed home to self-quarantine in an effort to keep our families healthy. The real estate market dramatically changed because homeowners took down their for-sale signs because they did not want people (and germs!) entering their homes. This led to even lower supply numbers than we previously had seen.

Demand remained constant because of lower interest rates. As demand remained strong and supply fell we saw prices rise. Supply fell because of a few factors:

  1. Record low building across the country as home builders were still gun shy from the last boom/bust.
  2. Sellers are pulling homes off the market because they didn’t want to invite covid into their home.
  3. Sellers started to see the value of their homes go and it’s hard to sell an appreciating asset.

Multiple offers became the norm. Buyers had to come out of pocket to cover the difference between appraised values and purchase price. Let me say that in a different way. Buyers had to have more cash to buy a house than the norm because when they were under contract for $315,000 or $3,500,000 and the home would only appraise for $300,000 or $3,000,000 it meant they had to negotiate down the seller or come out of pocket to cover the price above appraised value.

Look at these Cromford Market Index numbers – Cromford Market Index is how balanced the market is between buyers and sellers. 100 is balanced. We’ve been at record highs, but all cities except for Surprise has turned back towards balanced.

Why June Bloom?

Today, as we prepare to turn the calendar to June and summer 2021 is upon us, the real estate market is slowly turning back to normal. Mask mandates are being lifted and for sale signs are going back up – even though we’re still severely under average supply levels.

Because the higher priced houses have closed and can now be used for appraisals, it’s easier and requires less cash to buy a house today than in February. Appraisals catching up to values means less cash needed to buy a house at the agreed upon contract price. We actually had a contract for a buyer at $315,000 this week that appraised for $330,000!! Woo-hoo!! Instead of coming to the table with $15k cash, they came to the table with $15,000 of equity.

In the chart below you can see the Cromford Market Index turned 3 months ago! That’s a good thing. Another reason why I love this chart is because the CMI is overlaid on average appreciation levels. You can see the last time the CMI dipped below balanced, it took almost a year for prices to stop appreciating.

Supply has started to creep up.

Demand is starting to creep down.

We’re by no means back to a “buyer’s market” but at least we’re done going to the stratosphere of a “seller’s market”.

If you are a buyer and were worn out by the craziness and cash reserve requirements, the good news is it’s getting a little easier. Yes, prices are higher than a year ago, but at least the difference in purchase price can be financed.

Horseshoe Bend

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Just a short hike from Route 89 near Page, Arizona is one of America’s great natural wonders-Horseshoe Bend! Horseshoe Bend is one of those rare places that is absolutely breathtaking, yet accessible to people of all hiking skill levels. A very short hike off a highway takes you to the top of a cliff overlooking Horseshoe Bend and the Colorado River below.

For years, Horseshoe Bend was only popular with nearby residents who would make the short drive from Page and have a picnic along the rim. Social media has recently played a prominent role in its ascent to tourism fame. Horseshoe Bend has become one of the country’s most Instagrammed destinations.

The overlook at Horseshoe Bend can be dangerous, as only a small portion has railings, so use extreme caution as it is a drop of over 1000 feet to the Colorado River. While enjoying the view, you may be able to see watercraft up and down the river, and some people rafting the river spend the night down at the shores of Horseshoe Bend.

Parking is $10 per car to park in the newly improved and expanded lot. Motorcyclists will pay $5, and fees for buses range from $35-$140, based on the number of passengers.

Have you been to Horseshoe Bend? Did you know about this beautiful natural wonder before it rose to social media fame?

Healthy Holidays

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Holiday dinner

The year 2020 has been quite unusual. The Covid-19 global pandemic disrupted summer vacation, traditional school year starts and now the fall and winter holidays. For the first time in history, the Center for Disease Control and Prevention has issued guidelines for Americans to safely celebrate the holidays.

Everyday Tips

Wash your hands often and with soap and water for at least 20 seconds. The CDC says this should be done after someone has been in a public place, after blowing their nose, coughing or sneezing. If soap and water aren’t available, hand sanitizer that contains at least 60% alcohol will also work.

The CDC encourages everyone to continue wearing cloth masks in public and to continue practicing social distancing. It recommends everyone to maintain a distance of at least 6 feet or more from people you don’t live with.

Food and Drink Safety Tips

As of now, there is no evidence that suggests handling food or eating is associated with spreading the coronavirus. However, it could spread if someone touches a surface or object, including food, food packaging or utensils where respiratory droplets have landed then they touch their face, nose or mouth.

Holiday Gatherings

Officials suggest celebrating virtually or only with family members, which poses only a low risk of spreading the virus. People who shouldn’t attend a Thanksgiving gathering this year include those with or exposed to the coronavirus and people who have an increased risk for severe illness.

If you are hosting a Thanksgiving gathering, the CDC asks that people consider the following steps to keep everyone safe:

Host outdoor activities rather than indoor activities
Try and limit guests to just people in the local area
Limit the number of guests as much as possible
Encourage guests to wear masks and use hand sanitizer
Limit people around the food preparation area
Wear a mask while preparing food or serving others
Use single-use options or identify one person to serve sharable items
Avoid any self-serve food or drink options

The CDC also encourages guests to avoid singing or shouting, especially indoors. It recommends keeping music levels down so people don’t have to shout or speak loudly to be heard.

If someone develops COVID-19 symptoms or tests positive after a gathering, they should immediately contact the host and others that attended the event.

Donate to Those in Need

This Thanksgiving donations are especially crucial as many people have lost loved ones or are experiencing financial hardships. Consider volunteering your time or donating money to an organization or charity that’s meaningful to you in lieu of having a big Thanksgiving dinner. You can also donate your time by checking in on elderly neighbors and offering to run their errands.
However you choose to celebrate, we wish everyone a happy and HEALTHY holiday season!

Dog Days at the Garden

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Treat your four-legged family members to a morning stroll at the Desert Botanical Garden. You and your pup will have a tail-wagging good time exploring all the beauty and sniffs of the Garden.

Saturdays September 19th & 26th from 6am-9am. The Garden Shop welcomes dogs during your visit and the Patio Café will open at 8am. offering a light menu to enjoy.

-For the health and safety of guests and dogs, please remember the following:
-Please BYOB (bring your own bowl) to fill at Hydration Stations located at 5 points throughout the Garden.
-Please bring waste bags and clean up after your dog.
-Dogs must be on leash, licensed, and up-to-date on vaccinations.
-Owners must maintain control of their dogs at all times.
-Any dogs deemed to be aggressive to humans or other dogs will be asked to leave the Garden.
-Watch those noses and paws! Be alert to cactus pieces and other debris on the trails and do not allow dogs to wander off trail.
-Be aware of your dogs’ limits and monitor your pet for signs of heat stress.
-An indoor “cool-off” space is located in Webster Auditorium. You may also locate cooler areas under the shade of mature trees on several Garden trails.

5 Benefits of Homeownership

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Owning a home is often referred to as the “American Dream.”  While there are many obvious benefits of owning a home, there are also some that are not so obvious.

1-Stable Monthly Payments

If you choose a fixed rate mortgage, then your monthly payments will remain mostly the same, which is one of the best benefits of owning a home. When renting a property, there is always the unknown if the monthly payments will increase each year when you renew your lease. Consistent monthly payments that come with owning a home can provide some peace of mind when it comes to creating a monthly budget. Of course, monthly payments can change when owning a home if property taxes or homeowners insurance change, but the amount of change in property taxes is typically a very small amount.

2-Opportunity to Build Equity

The longer that you own a home, the more you pay towards the principle balance of your mortagae.  As the balance of the mortgage lowers, and hopefully the value of the property increases, the larger the equity!

3-Cheaper Than Renting Overtime

Undoubtedly, there are many associated when buying a home, such as the down payment, appraisal fee, and homeowners insurance.  The upfront cost to buy a home is substantially more than just paying monthly rent to a landlord. Yet, over time, owning a home is cheaper than renting which is a great benefit. In Arizona, if you compare a rental property and the monthly mortgage of a comparable home, the cost of ownership is typically much less.

4-Owning a Home Provides Tax Advantages

Paying taxes is a necessary evil, but a great benefit of owning a home are the tax advantages that it provides.  Arguably the biggest tax advantage of owning a home is the option to deduct paid monthly interest from your tax returns. If you’re unsure how owning a home will impact your taxes, it’s recommended that you discuss it with your accountant so you fully understand how owning real estate will impact you come tax season.

5-Build Your Credit

There are many factors that impact a persons credit score, one of the most important being the length of credit history.  Since the length of a mortgage is typically 15 or 30 years, having a mortgage on your credit history is a great way to lengthen the average of your credit accounts.  In addition to improving the average length of credit accounts, each and every month that a mortgage is paid on-time it shows that you’re a responsible borrower which not only can improve a credit score but also improves the chance of approval for future credit accounts.

Owning a home is much more than just having a place to live. Give us a call when you’re ready to become a homeowner! Chris 480-754-9077 & Cheryl 480-754-9477