Tempe, AZ Real Estate News

By Troy Erickson AZ Realtor (602) 295-6807, Your Chandler, Ahwatukee, and East Valley Realtor
(HomeSmart)
Here is the most recent Tempe AZ Real Estate Housing Market Report for February 2023:  After slightly decreasing last month the average sales price of Tempe homes increased in February, going from $521,542 in January to $527,767 this month. This is the third February out of the last four that Tempe average home prices have increased.The average sold price per square foot of Tempe homes has increased for the second straight month, after decreasing the last two months, going from $270/sf in December to $292/sf in February. After Tempe days on market reached an all-time low of 20 in May and June, it has increased 8 months in a row. Tempe DOM increased to 79 in February. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales may pick up as we head into spr...
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By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
Affordable homes in Tempe have diminished greatly as inventory has dropped, putting upward pressure on demand and prices. Inventory has dropped 34% year over year.  In 2 years inventory has dropped 41% for homes priced under $250,000.  Rents are also rising in most areas, including this chart for Tempe,as shown in the above.  Days on market is currently 37 days on market.  The fastest sales in Tempe for homes up to $250,000 was 28 days in August, 2018.  Homes sold in 35 days July, 2018.  Clearly a seller's market up to $250,000. Sales have dropped 15% since last July for homes up to $250,000. Lack of inventory is likely the culprit as prices continue to rise with low interest rates.  Notice the lack of foreclosures, short sales or HUD properties selling.  Even in this price range, notic...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
This single family home in 2156 S. Hu Esta Dr. Tempe AZ 85282 was a great find for my Buyer clients - it is in a cul-de-sac like location off Mill Avenue, close to down town Tempe, to Arizona State University, to almost everything needed.3 bedroom, 2 bathrooms - 1510 sq.ft.Sold for $280,000The previous owners had planted in the front and back yards several fig trees, other fruit and decorative trees. They started an orchard and a vegetable garden, to which the new owners will add more and will turn it into a place of their own. The home was built in 1952 and updated and improved several times through the years.The City of Tempe has plans to complete a landscaped, multi-use Path behind the home. The project is a 7-mile, non-motorized path from Knox Rd. to University Avenue. The path will...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
This lovely condo in Mistwood Condominiums, Tempe AZ 85282 is now sold.2-master bedrooms, 1,092 sq.ft. Tempe AZ 85282Sold Price $190,000The Sellers received multiple offers within a day on the market. The fact that the first day on the market was a Monday, did not stop the showing activity. Just another proof that the real estate market is still quite hot in Tempe AZ. The Sellers wanted to repair and perfect everything in the home, to clean it thoroughly, including the windows, interior and exterior, before it was put on the market. It took a few days longer than expected, but in the end it paid off well. There were no surprises or delays after the Buyers' home inspection was done.The transaction was financed and it closed within the normal time frame - about 30 days after the offer was...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
Juniper Village in Tempe AZ 85283 is a small community of 48 detached patio homes. Twenty seven of them are single story and twenty one homes have two stories. The size of homes is approximately between 1,050  and 1,500 sq.ft. The subdivision was built in 1983-84. The regular assessment for the Home-Owners Association is approximately $150 per month and covers pool and common areas maintenance.Reviewing home sales for the last five years, from January 2015 till June 2019, we see that there are one to three home sales per year.  A three-bedroom, two-bath home of 1,479 sq.ft. sold for $174,000 in April 2015, and a three-bedroom, two-bath home of 1,502 sq.ft. sold for $242,000 in September, 2015.  In 2018, there were three sales and they ranged between $225,000 and $260,000. In 2019 - just...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
A question from a potential Buyer about the home for sale in 512 E Balboa Dr. prompted me to take this walk along College Ave to Arizona State University, Tempe Campus. The lovely weather and the breeze today made my stroll quite enjoyable and I learned more details about the history of the neighborhood, too.Walking or biking along College Avenue feels like you are in a park.Along the street, there are trees for us to enjoy and for the birds to perch on and sing, there is public art to entertain us, there are poems to tell us about the history of the place. Traffic on the street is calmed by islands with trees and art installations, and the pedestrian pavement is protected from high speed scooters, too. The pedestrian route has traffic calmers, too.What did I see on my way? I passed by ...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
Twice a month Real Estate Brokers who are active in the Tempe AZ market get together and tour homes that are for sale in this city. It is a good way to see within less than 2 hours homes in different subdivision, connect with other realtors, mortgage lenders, home inspectors, title and escrow companies and hear some of the latest updates for the industry. The group of realtors provides feedback to the listing agents of the homes we visit with regards to marketing of the home and increasing the visibility of it.The group also selects the Best Home on Tour for presentation and value. The award stay on the selected home for a month. Here are glimpses of some of the homes that were on tour on March 27, 2019.  512 E BALBOA Dr. Tempe AZ 85282                                         1421 N SUN...
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By Shanna Day Team Leader AZ & UT - Call 480-415-7616, Top 0.33 of 1% of 79,000 AZ Realtors
(Keller Williams Realty EV (AZ) & Keller Williams SLC (UT))
Tempe Public Library Selected As 2019 National Medal for Museum and Library Service FinalistArizona’s Tempe Public Library was announced as one of the 30 finalists for the 2019 National Medal for Museum and Library Service, the nation’s highest honor given to museums and libraries for their outstanding and remarkable contributions to the communities they serve. On its 25th year, the National Medal for Museum and Library Service celebrates institutions demonstrating remarkable and unique approaches to better not only the service they provide but also the impact and difference they make to their communities and its members' lives. With programs such as the Tempe Book Bike, Dementia Friendly Tempe – Memory Café, FanCon and its efforts to promote family engagement and expand literacy, Tempe...
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By Chris Dunham, The Real Estate Guy™
(Brokers Hub Realty)
Home for sale in Tempe - Tempe Gardens home for SaleLocated just off McClintock and Baseline Roads, this Tempe home for sale was built in 1969 (Back in the Summer of 69-insert Bryan Adams melody here). I grew u pin this area, in fact, both the Jr High and High School in the boundaries of this Fine Tempe Home for Sale, I attended (Connolly and McClintock). Now,  I know what you're thinking, it was built 50 years ago, yes, yes it was, BUT, its solid block construction and has been renovated and upgraded over the years, so much that now, all you have to do is move in, place your furniture and get on with your life. Double doors lead your way into the home, new flooring, sunken living room, new kitchen appliances as well as granite counter tops.Plus a nice kitchen island/breakfast bar!The l...
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By Chris Dunham, The Real Estate Guy™
(Brokers Hub Realty)
Custom home for sale in Tempe - $1.2M Home in TempeLocated just off Warner and Rural in Tempe, this Custom home was built in 1989 and is located in Estates del Sol community. This Tempe home for sale offers a gourmet kitchen with breakfast bar. Room for 3 to sit and enjoy morning coffee and bagel.  The formal living and dining areas allow ample room for your designer furnishings. The second level offers additional living space along with an outdoor balcony with view of the park like paradise you'll call your back yard oasis. This home in Tempe also features 7 bedrooms, with 5 1/2 bathrooms. The home sits on a 17,000 plus square foot lot. The home comes equipped with a guest wing, including a kitchen, full bath and private entrance (perfect for in laws or teenagers). Have an RV? Great! T...
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By Barb England, Real Estate Professional
(Arizona Seller Financing)
10% Down will get you into this beatifully Updated Home for Sale in Tempe Arizona on a seller carry back contract.$229,500 4 bedrooms 2 baths Granite counter Tops Stainless Appliances  NO HOA Corner Lot Hugh backyard HAVE MONEY IN YOUR 401K LOSING MONEY IN THE STOCK MARKET?  LEARN HOW TO INVEST IN REAL ESTATE FOR A SAFE - HIGH RETURN WITH ANY AMOUNT OF MONEY!       LEARN HOW -Click Here  We Specialize in Helping Buyers Find Seller Financed Homes! We focus on people, not places. We help you make good choices. ​Barb EnglandArizona Seller Financing barb.england@gmail.com602-321-7109www.TheValleyTeamHomes.comAmerica's All in One Real Estate Services IncClick on the links below for quick search or contact me and I will set up your custom search no calls or obligations!!HOMES IN PHOENIX AZ WI...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
 On the Broker tour today, we saw the incredible variety of homes the older neighborhoods in Tempe zip codes 85281, 85282 and 85283 offer.The picture above is from a custom-built home in 1981, in Tempe AZ 85282. It is a 4 bedroom, 4.5 bathroom home on almost 20,000 sq.ft. lot. Lovely, tranquil back yard with lots of shade and covered patio space - the picture below shows the yard and the view from outside of the living room.  We saw a home that was remodeled completely, not just a cosmetic remodel, all major systems are new, the exterior painting, the roof, the electrical system. This is like a brand new home in a sixties neighborhood with an approximately 12,500 sq.ft. lot. Here are a few photos of this Tempe home:   The tour chauffeur took also a 360 degree photos of each home we saw....
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
When it rains two days in a row in the Phoenix area, we love to take photos of the rain, zoom the photos as if we want to make sure what we see. We enjoy the weather with open doors and windows, with walks in the rain.I love to show homes in rainy weather, too.   
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By Shanna Day Team Leader AZ & UT - Call 480-415-7616, Top 0.33 of 1% of 79,000 AZ Realtors
(Keller Williams Realty EV (AZ) & Keller Williams SLC (UT))
A Few Snapshots From The Start Of This Year's Healing Fields At Tempe Town LakeJust as memorable and patriotic as ever, the 15th Annual Healing Field for the greater Phoenix community kicked off this weekend with the setting up of flags on Saturday morning. Nearly 3,000 eight foot tall American Flags were erected by volunteers to honor the memories of those we've lost on that fateful day seventeen years ago.With a very powerful message to feel and heart, the nation's longest running Sept. 11, 2001 tribute continues to serve as a testament to the strength and unity of Americans.Here's Dave Cline who's on our team with some of the members of his baseball team that he coaches.Doug Royse (right) has been organizing this huge patriotic event every year since 2002! Here's the rest of the Temp...
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By Shanna Day Team Leader AZ & UT - Call 480-415-7616, Top 0.33 of 1% of 79,000 AZ Realtors
(Keller Williams Realty EV (AZ) & Keller Williams SLC (UT))
Have You Experienced The 9/11 Healing Fields At Tempe Town Lake?Continuing the tradition of honoring the victims of the September 2001 terrorist attacks, the 15th Annual Healing Field for the greater Phoenix community will take place once again at Tempe Beach Park. Hosted by the Tempe Exchange Club, the nation’s longest running Sept. 11, 2001 tribute event runs September 8th, Saturday to September 11th, Tuesday between 6AM and 8PM.On September 8th, Saturday, nearly 3,000 eight foot tall American Flags will be erected by volunteers honoring each person who died on September 11, 2001 in a beautiful display and a patriotic tribute to the strength and unity of Americans. Come walk through the solemn formation of the Stars and Stripes in this unforgettable tribute event with a very powerful ...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
  I hope this video tour of the lovely, quaint home in 1719 S El Camino Drive in Tempe AZ will invite you for a tour in person.The home was built in 1951 and is a true mid-century jewel in a desirable location, close to down town Tempe and to Arizona State University.Home size: 1,058 sq. ft.2 large bedrooms, 1 bathroom, spacious living room and separate dining areaLot size: 8,390 sq. ft.On the photo above, we captured a day when the flood irrigation was on - flood irrigation is provided from Sunday evening 10 p.m. through Friday night, no water is delivered on week-ends (per City of Tempe website).The City of Tempe provides flood irrigation to 16 City Parks and about 900 residential customers. (source: www.tempe.gov) For a private tour of this home, please contact Steffy Hristova, HomeS...
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By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
 Tempe Santa Fe Townhomes is a gated community of 22 homes, located near the intersection of McClintock Dr. and Guadelupe Rd. in Tempe AZ 85283, and very close to Loop 101 and Hwy 60.The homes were built in 2005. The size of all 22 homes is pretty similar - ranging from 1847 sq.ft to 1898 sq.ft., and there is one home which is 2,088 sq.ft.The units are two stories, with spacious kitchens and living rooms with high ceilings, and with patios and balconies.The complex has a swimmimg pool and many units have a quick pool access from their patios.      Another very nice feature are the two-car garages with ample, well-landscaped space between buildings.   Residents of Tempe Santa Fe Townhomes love to walk to the three nearby shopping plazas with so many choices - Trader Joe's, Changing Hands...
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By Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
Distressed properties - those that are "under water" where more is owed on the property than will be available from the proceeds of a sale of the property - are thankfully far fewer than during the crash during the latter years of the previous decade. Still - some do exist - and Short Sales are still a viable option when faced with a "must sell" scenario of an "under water" property. Currently running at less than 3% of the closed transactions every month in our MLS, homeowners in that 3%, whether in Tempe or another part of the valley, can still use our help. The first step is to contact us so we can schedule a complimentary confidential consultation to discuss how the short sale process works, and the considerations for your particular circumstances.   Careful up front planning is cri...
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By Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
While there are far fewer people these days considering a Short Sale of their home in Tempe, there are still some who may have purchased just before the "bust" last decade who may owe significantly more on the home than the proceeds of the sale will bring. What to do? A Short Sale is one such solution. A Short Sale is a "regular resale" with one distinct and significant difference. The agreement of your lender(s) to accept less than the balance(s) owed on the loan(s). Whether or not a homeowner meets the other "requirements" of their lender(s) such as a "valid" hardship can only be determined by consultation with a skilled and experienced professional with a solid Short Sale track record - we recommend a minimum of 100 closed Short Sales with a 90%+ Short Sale List to Close ratio. The p...
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By Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
While the numbers of Short Sales and REOs in Tempe are way down from the staggering levels following the market crash about 10 years ago, there are still some properties "under water" and some that have received a Notice of Default, the first step in the process that will result in the Trustee's Sale on the courthouse steps. It's always sad to see people give up and walk away from a home, particularly when alternatives exist which may well be better for them and their lien holders. We've learned that often those who "opt" to let the home go to foreclosure "by default" often believe that their personal circumstances prevent them from doing a Short Sale.   Circumstances such as: Multiple Home Loans IRS Income Tax Liens Past Due Child Support Past Due HOA Fees ...and the list goes on. In r...
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By Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty
(Serving the Greater Phoenix and Scottsdale Metropolitan Area)
Although we no longer see the levels of Short Sales that we did a few years ago in Tempe, Notices of Default continue to be issued, meaning that yet another Tempe property is on the path towards foreclosure at auction on the courthouse steps. Suzanne and I wonder why the owners would allow the property to go to foreclosure, rather than investigate alternatives that may be mutually beneficial to themselves and their lenders. Not all properties heading for foreclosure are necessarily "under water" - which theoretically means they could be sold via a "traditional" sale rather than a "short sale" - but circumstances may mean there are other liens attached or other factors that inhibit or prevent the owners from selling the property - whether or not it's a short sale. Short Sales are "regula...
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