Exclusive Guard Gated Biltmore Shores Home For Sale - Phoenix, Arizona

3114 E San Juan Phoenix, AZ 85016

3 BEDS 4 BATHS 3,007 SQ FT.

$800,000

Exclusive guard gated Biltmore Shores. An incredible opportunity to create your own masterpiece. The home has 3 en-suite bedrooms and an office. Master bedroom is on the main level with separate access to the private pool and patio. The home is light and bright with plantain shutters throughout, coffered ceiling, formal dining and two car garage. The kitchen was recently updated with a built in desk. Currently, the original balcony off of the secondary rooms has been enclosed for a workout area.

This home has been well maintained and ready to move in or update to your liking. Master bath has a jacuzzi tub and large walk in closet. Enjoy walks along the canal, golf at the Biltmore and fabulous local dining. The world is your oyster.

Paradise Valley Luxury Real Estate Market Update

Hello and welcome. We’re here with an update for the Paradise Valley luxury real estate market for the month of February. The number of listings was down 5 percent from a year ago at 360 listings. The number of days listings were on the market before being sold was down 53 percent - from 181 days in February 2018 to 85 days this year. The median listing price for the month was $2.53 million dollars. The median sale price was $1.34 million.

Scottsdale Real Estate News - Real Estate Firms Optimistic In 2019

Real estate firms are optimistic about the industry’s future despite competition from non-traditional market participants and virtual firms, finds a report from the National Association of Realtors. The report found 60 percent of NAR member firms expect profitability from all real estate activities to increase in the next year. 44 percent of them expect competition from virtual firms to increase in the next year and 43 percent expect the same form non-traditional market participants. Some of the other big challenges firms will be facing in the next two years include keeping up with technology and housing affordability.

Home Prices Rising at the Lowest Rate Since 2012

Home prices rose 4.7 percent in December, which is the lowest rate since 2012, according to a CoreLogic report. The chief economist for CoreLogic said higher mortgage rates slowed home sales and price growth during the first half of the year.

For 2019, he predicts an average annual price growth of 3.4 percent.

When looking at the top 50 markets based on housing stock, 40 percent were overvalued, 18 percent were undervalued and 42 percent were at value.

In terms of renter interest in home ownership, the biggest reason was to fulfill a dream and raise a family. People in this group tended to be younger and were more likely to have kids. Those who were least interested in home ownership tended to be older and said they don’t want the burden of a long-term financial commitment and are less likely to have kids.

CoreLogic’s CEO says the slowdown in the rate of home price appreciation reflects the impact of inventory shortages and growing affordability issues in many markets. But, 2019 could see an increase in home buyers if home-price growth continues to moderate, interest rates remain stable and household incomes rise.

Produced by Sequence Media Group

Mortgage Rates Fall to Their Lowest Levels in 8 Months

Mortgage rates have fallen to their lowest levels in eights months, with the average rate for a 30-year fixed mortgage falling to 4.51%. The rate is still higher than it was a year ago at 3.95%.

Financial experts say this may give a much-needed boost to the U.S. housing market.

This report was produced by Sequence Media Group