The past few years have seen an unprecedented surge in devastating climate and weather events in the United States, from wildfires to floods. In 2023 alone, 28 individual weather-related disasters caused at least $1 billion in damages each. These events have led to a significant rise in home insurance claims; experts predict this trend will continue. The unpredictability of future events underscores the need for preparedness.   Consequently, home insurance rates have surged: In 2024, Bankrate reports, premiums are already up an average of 23%, following double-digit increases the previous year.  In disaster-prone regions, the situation is even more challenging.  Some insurers have pulled out of risky areas entirely, and many of those that still offer policies in high-risk areas have doubled or even tripled their premiums.    For most homeowners, comprehensive home insurance coverage is crucial for financial security, but massive rate increases can turn a once-affordable home into a financial burden and pose a serious challenge for sellers. A home insurance policy is typically required to get a mortgage, and in some hard-hit regions, we're seeing sales fall through or homes sit on the market because insurance policies are unattainable or too expensive.    But don't panic! While these broader trends may be out of your control, there's still plenty you can do to save. Here are our top six strategies for slashing insurance premiums while maintaining the protection you need.   1. SHOP AROUND   Getting multiple quotes is a smart move for many major purchases, including home insurance. We recommend reviewing at least three estimates before you commit to a policy. You can get quotes by contacting insurers directly or working with an independent insurance broker like NerdWallet. You'll need to provide detailed information about the property you're insuring and your claims history.    Make sure you read policies carefully before you choose.  Sometimes, a policy can look like a better deal at first glance but turn out to have essential coverage gaps.  Be sure to consider how much the policy will pay out to repair or replace your home and review caps on personal possessions and liability claims.  It is also wise to read policyholder reviews (Trustpilot is an excellent place to start)  and ratings published by organizations like the Better Business Bureau and J.D. Power.   If you need help choosing the right policy, please contact us for a list of trusted insurance professionals.        2. INCREASE YOUR DEDUCTIBLE   The size of your deductible- the amount you pay before your insurance coverage kicks in on a claim- is a significant factor in your insurance cost.   A low deductible, such as $500, comes with higher premiums, while a higher deductible, like $2,500 or even $5,000, costs less monthly.  In some cases, you may be able to customize your coverage further by defining a different deductible for certain kinds of claims, such as those caused by storms or natural disasters.    If you are confident that you have enough savings to cover the initial outlay if needed, choosing a higher deductible can help you save significantly over the long term.  According to NerdWallet, raising your deductible from $1,000 to $2,500, for example, could save you an average of 11% each year.    3. BUNDLE MULTIPLE TYPES OF INSURANCE   Insurers want to get as much of your business as possible, so most offer significant discounts if you bundle your home and auto insurance, meaning that you bundle two policies together. With some insurers, you can get even higher savings by bundling more than home and auto—RV, boat, jewelry, and life insurance are potential options to consider.   According to US News and World Report, insurers typically offer customers who bundle home and auto insurance 10-25% savings on monthly premiums.  This approach also has other advantages: It cuts down on your paperwork, and in some cases, like if a storm damages both your home and car-you may be able to pay just one deductible instead of two when you file a claim.    However, before you sign on the dotted line, remember strategy #1 and be sure to shop around. In some cases, bundled coverage offers everything you need.    4. ASK ABOUT AVAILABLE DISCOUNTS   Did you know that being a nonsmoker might qualify you for a home insurance discount?  Some insurers offer surprising incentives for policyholders with a statistically lower risk of filing a claim.  In the case of nonsmokers, that is because of decreased home fire risk.   Many carriers also offer discounts to military-affiliated families, homeowners in certain professions, such as teachers or engineers, or recent homebuyers. Sometimes, according to MarketWatch, you can save by opting for paperless billing or paying your premiums for an entire year upfront.   Since available discounts vary significantly between insurers, the best strategy is to ask a representative for the complete list of available discounts so you can see what cost savings might be available to you.    5. AVOID MAKING SMALL CLAIMS   Are you worried that your premiums will rise significantly in the future?  Try to avoid claiming unless truly necessary.  Many insurers offer discounted rates to policyholders who go a certain number of years without filing a claim, and filing multiple claims typically results in significant increases.  If you file too many, you may even risk nonrenewal of your policy.    Since the cost of even a tiny premium increase can add up significantly over time, if you have minor damage to your home -- for example, if a few shingles blew off your roof in a windstorm -- it may be a wiser long-term financial decision to pay out of pocket insted of filing a claim according to BankRate.  If the repair cost is less than your deductible, it never makes sense to file, and if it is just slightly above your deductible. It is also unusually best to pay for the repairs yourself.  Additionally, always be sure to review your policy before you make a claim. Even claims that are denied can count against you.  So, it is not worth filing if the damage is clearly excluded from coverage.    If you find yourself in this situation, feel free to reach out for a list of reasonably-priced professionals who can help with the home repairs.      6. BE STRATEGIC ABOUT HOME IMPROVEMENTS   Insurance premiums alone may not be the deciding factor for a home improvement project, but knowing how renovations could impact your rates is essential - for better or worse.    For example, according to BankRate, some upgrades and repairs can reduce your premiums by making your home safer or less prone to certain types of damage. These include: Upgrading your electrical system Updating your plumbing Installing a monitored security system Adding a fire sprinkler system Replacing the roof On the other hand, some upgrades can raise premiums significantly, either because they increase the value of your home (and therefore the cost to replace it) or because they pose a hazard. These include: Installing a swimming pool or other water features Building an extension or expanding your living space Upgrading materials, like flooring or countertops Adding a fireplace or woodstove Whether or not your planned renovations are on either of these lists, it is wise to inform your insurer about the changes you make to your home—otherwise, you may risk gaps in coverage. You are always welcome to check with us before you begin any home improvement project to determine how it could impact your home's value and resale potential.  BOTTOMLINE: Protect Your Investment Without Sacrificing Enjoyment Of Your Home. Getting the coverage you need for financial security without overpaying can be tricky, especially in today's environment. Remember that while finding the best deal you can is essential, home insurance is not an area to skimp on.  For advice on your specific risks and the type of coverage you need, we recommend consulting with a knowledgeable insurance professional. We are happy to connect you with a trusted adviser in our network. If you are considering a home renovation, feel free to reach out for a free consultation on how it might affect your property value (and your premiums). The above is an opinion and is for informational purposes only. It is not intended to be financial, legal, insurance, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.          

According to Arizona handyman laws, a handyperson without a license can work on minor repairs, carpentry, or basic home improvements without a building permit.  This can include replacing light fixtures, putting up drywall, fixing windows, assembling furniture, and installing doors.    In Arizona, a handyman cannot work on projects that cost more than $1,000, require building permits, involve major renovations, or involve structural work on a residential property.    So, if you need help with something under $1,000, you can use a handyperson; if you need help with something over $1,000, you must hire a licensed contractor.  Per Arizona laws, a handyman cannot break up the job into smaller jobs to stay under $1,000.   If you need a handy person or a licensed contractor, please contact me for a referral.   Would you like the value of your home instantly?  Click Here   Thank you for reading this blog, and have a lucky duck day :-)   Michelle   Would you like to view properties for sale?  Click Here  

A recent survey found that over half (52%) of American homeowners plan a renovation project this year.  If you're among them, you know that embarking on home improvements can be exciting and daunting.  According to the survey, the median renovation budget is around $15,000, so you're probably investing a significant amount -- and you'll want to ensure your project's success.  One of the most critical decisions you'll make is choosing the right contractor to bring your vision to life. However, many homeowners need to avoid common pitfalls during this process, which can lead to stress, financial strain, and subpar results. In this guide, we'll explore seven mistakes to avoid when hiring a contractor to ensure your project runs smoothly from start to finish.  1. SKIPPING THE RESEARCH PHASE A common mistake homeowners make is rushing into hiring a contractor without proper research. But to ensure the success of your renovations, it's crucial to meet with multiple candidates and educate yourself on best practices surrounding your project.  If you bypass the interview process, you miss the opportunity to evaluate different approaches, pricing, and expertise.  This can result in overpaying or hiring someone whose skills and vision do not align with your needs.  Neglecting to research the processes and steps involved can also leave you vulnerable. It makes it more challenging to ask the right questions, and you risk hiring unqualified professionals or settling for subpar work.   What To Do Instead Educate Yourself -- Read up on or watch YouTube videos to understand better best practices surrounding your project. Interview Multiple Contractors -- Search for and interview at least three contractors who specialize in your needed work. Ask Specific Questions -- Inquire about the processes and materials each candidate will utilize. Seek Recommendations -- Get referrals from trusted sources like friends, neighbors, and your real estate professional (hint: ME!). I would be happy to share a list of referrals! Check Out The Contractor—with the State of Arizona: Go to the Arizona Registrar of Contractors website (link below) to find out the status of the contractor's license and whether any complaints have been filed. 2. CHOOSING BASED SOLELY ON PRICE Once you've interviewed candidates and reviewed their proposals, it's time to choose your favorite. But don't make the mistake of rushing to the lowest bid. While it's natural to want to save money, selecting a contractor based entirely on price can be costly. Extremely low bids can indicate cut corners, subpar materials, or hidden costs that will surface later. Another favorite is when they have too many jobs and take months to finish.  According to the National Association of the Remodeling Industry, when evaluating bids, make sure you're comparing "apples" to "apples" and consider factors like quality, timeline, and scope. Are they fully licensed and insured? How long have they been in business? Do they warranty their work? What To Do Instead Consider Overall Value -- In addition to price, look at experience, reputation, and quality of work. Ask For Detailed Breakdowns -- Bids significantly lower than others may be too good to be true. Invest In Quality -- Remember that quality work comes at a fair price, and investing in a reputable contractor can save you money in the long run by avoiding costly mistakes or repairs.  3. NEGLECTING TO CONFIRM CREDENTIALS AND INSURANCE When you've established a good rapport with a contractor, it's natural to want to believe the best in them. However, neglecting to check references and verify licensing and insurance could come back to haunt you. Hiring an untrained or unlicensed contractor puts you at risk for safety and code violations, not to mention shoddy workmanship. Without proper insurance, you could be left footing the bill for costly repairs, legal issues, or even medical bills if someone gets hurt on the job. Skipping out on a reference check can be equally problematic. It's your best opportunity to ensure that their promises and your expectations line up with reality.  What To Do Instead Verify Licensing And Insurance -- Confirm that the contractor is licensed according to the State of Arizona and verify insurance, including general liability and workers' compensation coverage. The State of Arizona does not require handymen to be licensed. Check Reviews -- Read online reviews and confirm that the business is in good standing with the Better Business Bureau and other relevant trade groups.   Call References -- When contacting references, ask questions and request to see photos of the contractor's completed projects. Visit Job Sites -- If possible, visit a current job site to observe the contractor's work in progress and interaction with the clients. 4. PROCEEDING WITHOUT A WRITTEN AGREEMENT A handshake deal might seem friendly and straightforward, but it's a recipe for misunderstandings and potential legal issues. Verbal agreements are difficult to enforce and leave room for miscommunication about project scope, timelines, and costs. Instead, you should have a signed contract before any work begins.  Paperwork can be tedious but don't skip the critical step of carefully reading over your contract, asking questions, and pushing back on any terms that make you uncomfortable.  Don't forget to ask for payment receipts and documents for any change orders or issues that arise throughout the project.  What To Do Instead Insist On A Written Contract -- Outline all aspects, including scope, materials, timeline, payment schedule, warranty information, and a process for handling change orders. Understand And Agree -- Don't sign anything until you fully understand and agree to all terms. Keep Documentation -- Once you've made your final payment, request a lien waiver or receipt marked "Paid In Full" to keep on file for legal and tax purposes. 5. PAYING TOO MUCH UPFRONT Another common misstep is paying a large sum upfront or the entire project cost before completion. This can leave you vulnerable if the contractor fails to complete the work or disappears with your money. According to the home services platform Angi, deposits typically range between 10% to 33% of the total project cost. The remaining payments should be tied to progress milestones outlined in your contract. Construction attorneys caution against paying a greater share of the project cost than the percentage of the work that's been completed. If you end up dissatisfied with the outcome, you'll have much less leverage if you've already paid. What To Do Instead Be Cautious -- Avoid contractors who demand large upfront payments or cash-only deals. Establish A Payment Schedule -- Tie payments to project milestones and stick to them. Pay Only Upon Completion -- Never pay in full until the project is completed to your satisfaction and all required inspections have been passed. 6. FAILING TO GET NECESSARY PERMITS Shipping the permit process might seem like a way to save time and money, but it can lead to serious consequences. Without the proper permits, you risk violating local building codes and regulations, which could result in fines, forced removal of work, or even legal action.  Additionally, unpermitted work might compromise your home's safety and structural integrity, potentially leading to hazardous conditions or diminished real potential. Homeowners may also find themselves without recourse if issues arise later, as insurance companies often exclude coverage for unpermitted renovations. If your community has a homeowners association (HOA), remember to also check its requirements. You may need prior approval to make modifications to your home or yard. HOAs have the power to enforce these restrictions with fines and even a lien on your home, so don't skip this important step.  What To Do Instead Discuss Permits -- Talk about permits and HOA requirements with your contractor before work begins. Include Permits In The Contract -- Ensure that obtaining necessary permits and approvals is part of your contract. Verify Inspections -- Ensure all required inspections are completed during the project. Keep Records -- Keep copies of all permits and HOA approvals and inspect reports for your records.  7. IGNORING RED FLAGS AFTER THE PROJECT HAS STARTED Sometimes a contractor can check all the right boxes -- until the work begins. Unfortunately, red flags spotted mid-project can be incredibly challenging to address. If you've already paid a substantial amount or had a portion of your home demolished, you may feel trapped in a bad situation. However, if there are major problems that the contractor is unwilling to address, ignoring them can make things exponentially worse. Don't be afraid to seek legal or professional advice if issues persist. Taking immediate, informed, and decisive action is crucial to safeguarding your investment and ensuring the project's ultimate success.  What To Do Instead Review Your Contract -- Make sure you thoroughly understand your rights and the agreed-upon terms. Document Issues -- Keep detailed records, including dates, descriptions of problems, photographs of subpar work or materials, and any communications with the contractor. Communicate Professionally -- Arrange a meeting to discuss your concerns, ensuring you remain calm and professional while clearly expressing your expectations. Request A Resolution Plan -- Ask for a plan to address the issues, set a timeline for resolution, and put everything in writing to ensure you're both on the same page. Seek Advice -- If the contractor is uncooperative or dismissive, consider seeking advice from a legal professional.  You could also contact your local licensing board or consumer protection agency for guidance. The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice.  Consult the appropriate professionals for advice regarding your individual needs. Sources: Arizona Registrar Of Contractors -https://roc.az.gov USA Today - https://www.usatoday.com/money/homefront/moving/home-renovation-statistics/ National Association Of The Remodeling Industry https://remodelingdoneright.nari.org/Homeowner-Resources/Questions-to-ask/How-to-select-a-remodeler The Washing Post - https://www.washingtonpost.com/home/2024/07/08/how-to-find-good-honest-contractor/ MarketWatch - https://www.marketwatch.com/guides/insurance-services/home-insurance-during-renovations/ LegalZoom - https://www.legalzoom.com/articles/oral-contracts-do-they-carry-any-weight Better Business Bureau - https://www.bbb.org/all/home-improvement/your-home-improvement-contract Angi - ttps://www.angi.com/articles/how-much-should-i-pay-general-contractor-prior-starting-job.htm Bob Vila -  https://www.bobvila.com/articles/remodel-without-permit/ Bankrate - https://www.bankrate.com/real-estate/hoa-homeowners-association-rules/ Angi - https://www.angi.com/articles/how-complain-contractors-effectively.htm Courtesy Of Michelle Quackenbush Lucky Duck Realty 602-999-2627 AZBrokerOnline@gmail.com    

As of August 1, 2024, real estate across the United States has changed as we know it, and here are the new rules for buyers in the state of Arizona.   When buyers are being represented by a Realtor, you must sign a written representation agreement with your Realtor prior to the Realtor showing you a home. This does not apply to open houses.    What is required to be in the agreement?   A specific disclosure of the amount the Realtor is receiving in compensation. The compensation cannot be open-ended, for example. (It cannot say the buyer broker compensation will be the amount the seller is paying.) The agreement prohibits the agent from receiving compensation for services that exceed the amount or rate agreed to in the agreement. Unless the buyer and buyer's Realtor both agree to amend the agreement.  A statement in the agreement that Realtor's compensation is negotiable and is not set by law. Basically, Buyers are now required to employ a Realtor, like sellers do on a listing. If you are thinking of buying a home and employing a Realtor, choose a Realtor with plenty of experience, contract & negotiation skills, and the ability to find the right house for the right terms who guides you through the complicated transaction. Contact Michelle Quackenbush - Lucky Duck Realty 602-999-2627  LuckyDuckTeam@gmail.com

Congratulations!!!! Michelle Quackenbush of Lucky Duck Realty has received an award for being in the top 5% of listing agents out of 63,000 agents in Arizona.  Another essential fact is she has had No expired listings in 2023!  If you are looking for a highly experienced agent to sell your property, contact Michelle Quackenbush of Lucky Duck Realty at 602-999-2627 or LuckyDuckTeam@gmail.com.        

Six valley schools are among the top 100 public high schools in America, according to the 2023 list of highest-ranked public schools from the education data platform Niche. The schools are all Basis charter schools on the list at Best Schools in Phoenix Niche's Phoenix area list.  Leading the pack were Basis Schools in Scottsdale at number 29 in the nation,  Phoenix Basis at number 36, Peoria Basis at number 59, Mesa Basis at number 63, Chandler Basis at 64, and Ahwatukee Basis at number 65. Two other schools on the list are Arizona College Prep Erie Campus in Chandler and Mary C. O'Brien Elementary in Casa Grande. Niche also named Chandler Unified School District as the number 1 district in the valley, followed by Scottsdale Unified School District for number 2, Gilbert Public School District as number 3, Deer Valley Unified School District at 4, and Heritage Academy at number 5 among the public schools.  If you are considering selling or purchasing a home, don't hesitate to contact the Lucky Duck Michelle Quackenbush at Lucky Duck Realty. Thank you, and have a lucky duck day. :-)   Michelle

Good News For Buyers!  Down payment assistance is back! Plus, sellers are offering help with closing costs again!  Perfect time to purchase a home.  Below are some unique financing options for the Phoenix, Arizona, area.  These options are temporary options, once the lenders run out of money the program will be gone.  Please Don't wait! Option 1 Right now, there is a $15,000 grant offer from a local bank, it can be used for down payment or closing cost. You must have a 620+ FICO score, the interest rate is between 5.25%-5.99% 30 year fixed.  It must be your primary residence. You and the property needs to qualify for the grant.  There are other requirements on this program. Option 2 A local lender is offering $2,500 towards closing cost and a $2,500 Home Depot gift card.  The buyer must qualify for this program.  There is only one lender providing this program.  Option 3 A 3-2-1 buydown or a permanent buydown.  What is a 3-2-1 buydown, for example let's say the market interest rate is 6%. on a 3-2-1 buydown the first year would be 4%, the second year would be 5% and 3 year through 30 the interest rate would be 6%.  A permanent buydown for example probably buy the 6% interest rate down to a 5.5% interest rate for the entire 30 year mortgage. Some sellers are paying buyers closing cost and some homes are selling about 2%-3% below asking price. There are more programs available, this is just a few.  Contact Michelle Quackenbush with Lucky Duck Realty for more info. Want more information, Contact Us  

There are 1428 active properties on the market with an average price of $594,700.  The average market days is 85 days, and 273 houses are pending. If you want the value of your home instantly for free, go to https://www.arizonahousesonline.com/evaluation  

There are 1251 active properties on the market with an average list price of $555,000.  The average days on the market is 87.  There are 171 pending sales.   If you are thinking of selling or would just like to know the value of your home instantly and for free go to https://www.arizonahousesonline.com/evaluation

The average price range for Glendale, Arizona, is $446,995, with 1152 listings on the market.  202 single-family homes are pending.  The average time on the market is 85 days. If you would like the value of your home https://www.arizonahousesonline.com/evaluation

When you purchase a home or sell one through Lucky Duck Realty and Michelle Quackenbush, I donate to The Arizona Pet Project.   The Arizona Pet Project is a nonprofit organization that supports families and saves pets.  Their mission is to reduce the number of cats and dogs entering Arizona's shelters by providing the resources needed to keep pets and their families together. Through shelter interventions and prevention programs, The Arizona Pet Project keep people together with their pets, all while preventing cats and dogs from entering shelters where they face an uncertain fate.     

Here is the list of the top 24 private schools in the Phoenix metro area for 2023.  The top three are the same top three for 2022. We have included the number of students enrolled, grades taught, teacher-student ratios, and their ratings.   Phoenix Country Day School - Paradise Valley has 750 students enrolled, grades taught PK-12, teacher-student ratio 7 to 1, rating A+ Brophy College Preparatory - Phoenix has 1407 students enrolled, grades taught  6-12, teacher-student ratio 14 to 1, rating A+ Rancho Solano Preparatory School - Scottsdale has 533 students enrolled, grades taught PK-12, teacher-student ratio 7 to 1, rating A+ Gary K Herberger Young Scholars Academy - Phoenix has 103 students enrolled, grades taught 5-12, teacher-student ratio 7 to 1, rating A+ Xavier College Preparatory Roman Catholic High School - Phoenix has 1156 students enrolled, grades taught 9-12, teacher-student ratio 14 to 1, rating A+ Arizona Cultural Academy & College Prep - Phoenix has 366 students enrolled, grades taught PK-12, teacher-student ratio 7 to 1, rating A+ Bella Vista College Preparatory School - Scottsdale has 89 students enrolled, grades taught 6-12, teacher-student ratio 7 to 1, rating A+ Seton Catholic Preparatory - Chandler has 552 students enrolled, grades taught 9-12, teacher-student ratio 8 to 1, rating A+ Notre Dame Catholic College Preparatory High School - Scottsdale has 898 students enrolled, grades taught 9-12, teacher-student ratio 6 to 1, rating A Paradise Valley Christian Preparatory School - Phoenix has 312 students enrolled, grades taught PK-12, teacher-student ratio 9 to 1, rating A Arizona Lutheran Academy - Phoenix has 239 students enrolled, grades taught 9-12, teacher-student ratio 12 to 1, rating A Valley Christian School - Chandler has 1064 students enrolled, grades taught K-12, teacher-student ratio 16 to 1, rating A Valley Lutheran High School - Phoenix has 147 students enrolled, grades taught 9-12, teacher-student ratio 6 to  1, rating A Tri-City Christian Academy - Chandler has 230 students enrolled, grades taught PK-12, teacher-student ratio 14 to 1, rating A Gilbert Christain School- Gilbert has 1545 students enrolled, grades taught Pk-12, teacher-student ratio 11 to 1, rating A- St Mary Catholic High School - Phoenix has 543 students enrolled, grades taught 9-12, teacher-student ratio 14 to 1, rating A- Arrowhead Christian Academy - Glendale has 131 students enrolled, grades taught K-12, teacher-student ratio 12 to 1, rating A- Ville De Marie Academy - Scottsdale has 109 students enrolled, grades taught K-12, teacher-student ratio 11 to 1, rating B+ Dream City Christian School - Glendale has 500 students enrolled, grades taught PK-12, teacher-student ratio 16 to 1, rating B+ Phoenix Christian Preparatory School - Phoenix has 400 students enrolled, grades taught PK-12, teacher-student ratio 14 to 1, rating B+ Faith Christian School - Mesa has 174 students enrolled, grades taught K-12, teacher-student ratio 9 to 1, rating B+ Bourgade Catholic High School - Phoenix has 350 students enrolled, grades taught 9-12, teacher-student ratio 15 to 1, rating B Thunderbird Adventist Academy - Scottsdale - has 152 students enrolled, grades taught 9-12, teacher-student ratio 12 to 1, rating B- 91st Palm Christian School - Phoenix has 165 students enrolled, grads taught PK-12, teacher-student ratio 9 to 1, rating A If you would like the value of your home for free instantly, go to https://www.arizonahousesonline.com/evaluation If you would like to search for sale properties on the MLS, go to https://www.arizonahousesonline.com/listing I hope this helps you choose private schools in the Phoenix metro area.  I am always here to help you.  Have a lucky duck day. Michelle Source: Phoenix Business Journal

For October 10, 2022 For Sellers: We are coming into our selling season in Oct-May.  The best time to sell is before the holidays because most sellers wait until after the holidays, so there is less competition at this time.  December has always been a good selling month for me. Most sellers don't like to drop their prices. they prefer to give sellers concessions which are on the rise.  A well-priced home is still selling between 95%-97% of the listing price.  Expect at least 90 days on the market.  If you are thinking of selling your home, I would love the opportunity to talk to you about marketing and selling your property. For Buyers: Seller-paid closing cost is expected to continue to rise.  Aside from paying the buyer's closing cost for title fees, pre=paid taxes & insurance, and lender fees.  Seller-paid concessions can also be used to lower the buyer's mortgage interest rate, easing the pressure on the monthly payments.  If you are considering purchasing a home, I would love the opportunity to help you!  

Want to visit a pumpkin patch in the Phoenix Metro area?  Here is a list!  Enjoy.

For Oct 6, 2022 This week the median list price for single-family homes for Gilbert, Arizona, for zip code 85296, is $562,500, with the market action index (MAI)  hovering around 30. This is less than last month's market action index of 43. Inventory has increased to 140 homes. The market has been cooling over time, and prices have recently flattened. Despite the decrease in the MAI, we are in a Seller's Market. If the MAI begins to climb, prices will likely follow suit. If the MAI drops or falls into the Buyer's zone, watch for downward pressure on prices. We are going into our selling season between Oct-May. Most sellers wait until after the holidays to place their property on the market; I suggest putting it on the market in October due to less competition. If you are considering selling, contact the Lucky Duck, Michelle Quackenbush. :-)    

For Oct 6, 2022 The week the median list for a single-family home in Glendale, AZ 85308 is $530,000, with the market action index (MAI) hovering around 40. This is less than last month's action index of 42. Inventory has decreased to 199 homes. The market has been cooling over time, and prices plateaued for a while. Despite the decrease in MAI, we are in a Seller's market. Watch for changes in MAI. Our selling season for Glendale is October-May. Most sellers wait until after the holidays to sell their property. I suggest putting the home on the market now because there is less competition. December is my best-selling month. If you are considering selling your home, contact the Lucky Duck, Michelle Quackenbush.  :-)

For Sellers: The latest spike in interest rates has resulted in a drastic drop in contract activity, down 14% in the last two weeks. Over the last six months, the housing market has shifted from a frenzy to a more balanced market. Until rates drop, sellers need to be realistic about their list price and offer to pay the buyer's closing cost or buy down the interest rates for the buyer. The best time to up your property on the market is in the fourth quarter when the snowbirds start to arrive. In 2023, expect more activity due to the Super Bowl, Spring Training, Barrett Jackson, Arabian Horse Show, and the Phoenix Open starting January through May. For Buyers: In the recent resale market, 11% of the sellers have had seller concessions (seller paying buyer's closing cost or buying down the interest rate). The fourth quarter of the year tends to be the best time for a buyer to purchase a home, and there is usually a supply boost around September and October. Once 2023 gets here, contract activity is expected to increase dramatically from January through May. The upcoming Super Bowl, Phoenix Open, and Spring Training events will generate more open houses and real estate activity. Thinking of buying or selling, please contact: Michelle Quackenbush, Broker/Owner Lucky Duck Realty 602-999-2627 or LuckyDuckTeam@gmail.com

My job is to find you the right home, and your job is to fall in LOVE! Are you ready to fall in love? I am your professional real estate matchmaker. Contact Michelle Quackenbush Lucky Duck Realty  602-999-2627 or LuckyDuckTeam@gmail.com        

Seller Paid Closing Cost Is Back! Sellers are willing to pay for an interest rate buydown or part/all buyer's closing cost.   This is good news for buyers. Buyers have more time to decide and more houses to choose from with the average time on the market of 21-65 days.  Some properties are still closing over list price, with the average over list being $7,000, down from $20,000. The median sales price has declined from $480,000 to $450,000.  This is a 2% decline; however, this is not across all price ranges. As I have said before, home increases start from the bottom up, and decreases start from the top down. The chart below is per price range for the metro Phoenix area.  If you need stats for your zip code or neighborhood with no obligation, please contact Michelle Quackenbush-Lucky Duck Realty at 602-999-2627 or LuckyDuckTeam@gmail.com.  I am your stats girl for the Phoenix area!          Price Range               Price Per Sq Foot  Up to $300K                     $213.89 $300K-$500K                   $261.18 $500K-$800K                   $287.30 $800K-$1M                       $333.11 $1M-$1.5M                        $384.36 Over $1.5M                        $583.57                                                          

Wondering what is going on in the Phoenix Real Estate Market? These stats are using the data from the MLS System and are for the complete valley. If you are wanting stats for a specific area, please let me know and I would be happy to supply them to you for free.