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Juan Grimaldo | THE GRIMALDO GROUP BLOG

Friday, June 18, 2021   /   by Juan Grimaldo

Owning a Home Has Distinct Financial Benefits Over Renting [INFOGRAPHIC]

Owning a Home Has Distinct Financial Benefits Over Renting [INFOGRAPHIC]


Some Highlights

When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation.
On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation.
If you’re feeling the challenges of a competitive market, remember that homeownership is a long-term game. Persevering today will lead to financial rewards in the future. ...

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Friday, June 18, 2021   /   by Juan Grimaldo

More metro Phoenix apartments selling for over $100M in white-hot real estate market

Apartments in metro Phoenix continue to sell like hot cakes, as out-of-state investors are looking for a piece of the market that is seeing rental rate and occupancy increases amid job and population growth.
For example, San Diego-based Sunroad Enterprises paid $108.5 million to Sentinel Real Estate Corp. for the Paragon at Kierland Apartments at 15608 N. 71st St. in Scottsdale, according to Vizzda LLC real estate database.
That's nearly double the price for the property in its previous sale. Nearly eight years ago, in September 2013, Sentinal paid $57.75 million for the same apartments, built in 2001, according to Vizzda.
To continue reading, click here. 
By Angela Gonzales, Senior Reporter - Phoenix Business Journal ...

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Friday, June 18, 2021   /   by Juan Grimaldo

Lumber Prices Are Dropping Fast

Lumber prices are falling quickly from record highs, and that may be happening at the right time for the new-home market. Home builder sentiment sank to its lowest level since August 2020, with builders blaming increasing material supply challenges for their outlook, according to a newly released report from the National Association of Home Builders. Builders said that declining availability for softwood lumber and other building materials is pushing builder sentiment down in June, at a time when buyer demand is surging.
Lumber prices have been increasing for months, prompting builders to raise their prices and, in some cases, to stop taking new orders due to the difficulty of pricing projects accurately during the course of construction.
But wood prices are coming down—and they’re falling fast. For example, futures for July delivery of lumber were $1,009.90 per thousand board feet, a 41% drop from the record of $1,711.20 reached in early May, The Wall Street Jo) ...

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Thursday, June 17, 2021   /   by Juan Grimaldo

Housing Wealth: The Missing Piece of the Affordability Equation

Housing Wealth: The Missing Piece of the Affordability Equation


The real estate market is soaring today. Residential home values are rising, and that’s a big win for homeowners. In 2020, there was a double-digit increase in home values – a trend that’s expected to head toward similar levels this year.
However, skyrocketing prices are causing some to start questioning affordability in the current housing market. Many are quick to emphasize the fact that homes today are less affordable than they were last year. Black Knight, a leading provider of data and analytics across the homeownership life cycle, just reported on the issue.
The findings show the historical averages of the national payment to income ratio, which they define as “the share of the median income needed to make the monthly payments on the median-priced home.” Their study reveals:

The average over the last 25 years was 23.6%
The average over the last 5 years was ...

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Thursday, June 17, 2021   /   by Juan Grimaldo

Washington, D.C. real estate investor enters Valley by acquiring 2 retail centers

Federal Realty Investment Trust, a nationally recognized real estate developer that focuses on shopping centers, has entered the Phoenix market by acquiring two large retail properties in Phoenix and Scottsdale for a combined price of $200 million.
Maryland-based Federal Realty (NYSE: FRT) closed on The Shops at Hilton Village, a 92,728-square-foot trophy shopping center on Tuesday for $37.5 million. Michael Hackett and Ryan Schubert with Cushman & Wakefield’s Phoenix office brokered the sale of The Shops at Hilton Village.
The company is also under binding contract to acquire the 642,000-square-foot super regional community shopping center Camelback Colonnade for $162.5 million. That deal is expected to close by the end of the month.
To continue reading, click here.
By Brandon Brown, Reporter - Phoenix Business Journal ...

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Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
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. June 19, 2021
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