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Juan Grimaldo | THE GRIMALDO GROUP BLOG

Wednesday, June 16, 2021   /   by Juan Grimaldo

California investor buys Tempe apartments in second Valley acquisition

A month after making the firm’s first acquisition in the Phoenix market, Los Angeles-based real estate investment firm Decron Properties bought its second property in the Valley, closing on the $64.7 million purchase of the apartment complex 1221 Broadway.
The purchase of the property, a 194-unit apartment complex in Tempe, brings Decron nearly halfway to its goal of buying 1,000 units in Phoenix in the next two years, Daniel Nagel, CFO of Decron, said. The company already has properties throughout Southern California. Its first Northern California purchase was in 2015 and first purchase in the Seattle area was in 2018.
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By Corina Vanek, Reporter - Phoenix Business Journal ...

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Wednesday, June 16, 2021   /   by Juan Grimaldo

Don’t Wait To Sell Your House

Don’t Wait To Sell Your House


We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer.
High Buyer Demand
Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly fre ...

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Tuesday, June 15, 2021   /   by Juan Grimaldo

Hope Is on the Horizon for Today’s Housing Shortage

Hope Is on the Horizon for Today’s Housing Shortage


The major challenge in today’s housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply can’t keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates it’s a buyers’ market, but an inventory level below that threshold means we’re in a sellers’ market. Today’s inventory level sits far below the norm.

According to the Existing Home Sales Report from the National Association of Realtors (NAR):


“Total housing inventory at the end of April amounted to 1.16 million units, up 10.5% from March's inventory and down 20.5% from one year ago (1.46 million). Unsold inventory sits at a 2.4-month supply at the current sales pace, slightly up from March's 2.1-month supply and down from the 4.0-month supply recorded in April 2020. These n ...

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Tuesday, June 15, 2021   /   by Juan Grimaldo

Micro 'estates' under construction to bring home affordability to Tempe

In an effort to provide affordable housing units, Tempe-based Newtown Community Development Corp. teamed up with Phoenix-based 180 Degrees Design + Build to develop a community of micro homes in Tempe.
These 600-square-foot homes were designed to afford first-time homebuyers the dream of home ownership. Those low-wage earners who qualify for subsidies could pay as little as $170,000 to own a home.
The homes are offered at a time when Phoenix home price growth continues to top the nation.
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By Angela Gonzales, Senior Reporter - Phoenix Business Journal ...

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Wednesday, June 9, 2021   /   by Juan Grimaldo

Home Price Appreciation Is as Simple as Supply and Demand

Home Price Appreciation Is as Simple as Supply and Demand


Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

Let’s use three maps to show how this theory continues to affect the residential real estate market.

Map #1 – State-by-state price appreciation reported by the Federal Housing Finance Agency (FHFA) for the first quarter of 2021 compared to the first quarter of 2020:As the map shows, certain states (colored in red) have appreciated well above the national average of 12.6%.

Map #2 – The change in state-by-state inventory levels year-over-year reported by realtor.com:Co ...

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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. June 19, 2021
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