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Juan Grimaldo | THE GRIMALDO GROUP BLOG

Thursday, July 22, 2021   /   by Juan Grimaldo

Homebuilders gobbling up even more West Valley land

Homebuilders are hungry for land in the West Valley as they work to build more homes when demand is at an all-time high.
Scottsdale-based Meritage Homes Corp. (NYSE: MTH) just paid $14.75 million for 218 acres near the southeast corner of Citrus and Camelback roads in Goodyear, according to Tempe-based Vizzda LLC real estate database.
The parcel is across the street from its Sedella master-planned community, which is expected to be sold out this fall, said Fred Hermann, Phoenix division president of Meritage.
To be called Abel Ranch, this new Meritage master-planned community includes 333 lots with single-story homes ranging from 1,500 to 3,400 square feet, with prices ranging from $300,000 to $500,000, he said.
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By Angela Gonzales, Senior Reporter - Phoenix Business Journals  ...

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Thursday, July 22, 2021   /   by Juan Grimaldo

Today’s Real Estate Market Explained Through 4 Key Trends

Today’s Real Estate Market Explained Through 4 Key Trends


As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.

A Shortage of Homes for Sale

Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, inventory levels are starting to trend up. The latest Monthly Housing Market Trends Report from realtor.com says:


“In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housi ...

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Wednesday, July 21, 2021   /   by Juan Grimaldo

Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too?

Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too?


Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs.

Working from Home Isn’t a Passing Fad

Before the pandemic, only 21% of individuals worked from home. However, if you’ve recently discovered remote work is your new normal, you’re not alone.

A survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next 5 years (see chart below):

Working from Home Gives You More Flexibility and More Options

If you fall in that category, working from home may provide you with opportunities you didn’t realize you had. The ongoing ris ...

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Wednesday, July 21, 2021   /   by Juan Grimaldo

California industrial developer signs major leases, expanding Arizona footprint

After landing some major leases in the second quarter of 2021, Southern California-based industrial real estate owner and developer Majestic Realty Co. is continuing to grow its presence in the Phoenix market.
In the past two months, Majestic signed leases with tenants to three of its metro Phoenix properties, bringing each of the three to full capacity. In Tolleson, Majestic signed a 224,874-square-foot lease with Ashley Furniture, one of the largest leases of the second quarter, at the Majestic Tolleson Center. Aaron Hodgdon of Hodgdon Group Realty and Rick Robertson of Lee & Associates represented Ashley Furniture. Allen Lowe and Jeff Conrad of Lee & Associates represented Majestic Realty Co. in the lease deal.
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By Corina Vanek, Reporter - Phoenix Business Journal ...

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Tuesday, July 20, 2021   /   by Juan Grimaldo

3 Charts That Show This Isn’t a Housing Bubble

3 Charts That Show This Isn’t a Housing Bubble


With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.
1. The housing market isn’t driven by risky mortgage loans.
Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a buyer had less than a 620 credit score.Dr. Frank Nothaft, Chief Economist for CoreLogic, reiterates this point:

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Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
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Goodyear, AZ 85395
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© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. July 30, 2021
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