Scottsdale Real Estate & Community News

Scottsdale real estate is always at the top of mind for The Kay-Grant Group as we assist a lot of individuals every month interested in finding or selling their next piece of Arizona real estate; whether that's looking for Old Town Scottsdale condos for sale, a downtown Phoenix loft for sale, or selling their house in northern Phoenix. The Kay-Grant Group are your premier Scottsdale Realtors.

This blog focuses on topics relevant to the Scottsdale and Phoenix metro real estate community as well as to those residing in The Valley that are interested in things to do around The Valley or the general going-ons in Phoenix and Scottsdale.

Need a Good Real Estate Agent?

If you're interested in purchasing a home and would like to work with premier Scottsdale Realtors, please Contact Us and we can get you setup on a custom search. If you have any interest in selling your home, or just want to know what it's worth, Contact Us and we'll perform a market valuation to let you know what we believe your house, condo, or townhouse could sell for.

Jan. 19, 2022

UNDER CONTRACT: Luxury Scottsdale Home in Shea North Estates

Shea North Estates Scottsdale Under Contract

Spacious 5-Bedroom Luxury Home in Scottsdale Under Contract!

Our listing, a beautiful 5-Bedroom home in Scottsdale's Shea North Estates, is now Under Contract! Key features include a spacious 3,300 square foot floorplan, a lovely modern kitchen with stainless steel appliances and granite countertops, huge bedrooms, and an entertainer's dream backyard complete with putting green, fire pit, and a sparkling pool with waterfall feature.

Plus, once the closing process has been finalized, the new owners will be in a great Scottsdale location, with convenient access to Kierland Commons, numerous local restaurants, and the Loop 101. We are your luxury real estate experts in Scottsdale, and if you are thinking about listing your Scottsdale home, we would love to hear from you!

Sell Your Scottsdale Luxury Home with The Kay-Grant Group

We utilize a comprehensive marketing approach, which ensures that our listings receive maximum exposure to interested buyers. For more information about our services, or to schedule a Free Home Valuation, give us a call at 480-387-3990 or fill out our Contact Form

Jan. 15, 2022

JUST LISTED: 3-Bedroom Crystal Vista Home in Buckeye

Crystal Vista Buckeye Home Just Listed

Beautiful 3-Bedroom Home in Crystal Vista Just Listed!

If you are in the market for a recently-built 3-bedroom home for under $350,000 in the West Valley, then our newest listing is a must-see! Nestled in the popular Buckeye subdivision Crystal Vista, this beautiful home boasts new wood-like vinyl flooring, an updated kitchen with custom cabinets and granite countertops, ample-sized bedrooms, and a covered rear patio!

Plus, the subdivision offers a community park and playground, and is conveniently located near Interstate 10, shops, and restaurants. Listing price is $340,000, and interest for this home will be high!

You can see additional photos and a Virtual Tour by clicking here:

See this Beautiful Buckeye Home at our Open House

We are hosting an Open House on Saturday, January 15th from 11 AM to 2 PM. This is a great opportunity to ask any questions you may have, and get an in-depth tour of this amazing home. For more information about the home or the community, or to schedule a showing for outside of the Open House, give us a call at 480-387-3990 or fill out our Contact Form.

Jan. 13, 2022

COMING SOON: 3-Bedroom Home in Buckeye's Crystal Vista

Crystal Vista Buckeye Home Coming Soon

Three-Bedroom Buckeye Home in Popular Crystal Vista Subdivision Coming Soon!

Have you been searching for a newer build in a great West Valley community? If so, our newest listing in Buckeye's Crystal Vista is hitting the market soon! Key features of this home include a 1,385-square-foot floorplan, wood-like vinyl flooring everywhere except the bedrooms, a beautiful kitchen with stainless steel appliances and granite countertops, and a great backyard with above-ground pool available on a separate bill of sale.

Best of all, the home is a short walk away from Crystal Vista's community park and playground, with convenient access to I-10, schools, shopping and dining. Listing price will be $340,000, and with the number of buyers looking in Buckeye, this home will not last!

Interested in Buying this Home in Buckeye?

We can provide you with everything you need to know about the current market for Buckeye homes for sale, including statistics, projections, and recent sales data. For more information about this home, or to schedule a showing, give us a call at 480-387-3990 or fill out our Contact Form.

Jan. 13, 2022

UNDER CONTRACT: New Build in Tonopah, AZ

Valley View New Build Tonopah Under Contract

Three-Bedroom New Build in Small West Valley Town Under Contract!

Tonopah, AZ is a small town located approximately 20 miles west of Buckeye, and our clients are officially Under Contract on this new build in Valley View Ranchettes! Once the closing process is complete, our clients will be the first residents to enjoy everything this 1,605 square foot home has to offer, including a spacious interior, granite countertops, and a large patio.

Plus, the home is conveniently located near Interstate 10, which makes commuting to major shopping centers in Buckeye simple. There are a variety of new builds sprouting in the West Valley, and if you are in the market for a new build in a small town, you owe it to yourself to work with an expert!

Looking to Buy a New Build Home in AZ?

We can provide you with everything you need to know about newly built homes in the West Valley and throughout the Greater Phoenix area. For more information about our services, or to schedule a consultation, give us a call at 480-387-3990.

Jan. 12, 2022

JUST SOLD: Beautiful Optima Biltmore Condo

Optima Biltmore Condo Just Sold

Incredible Two-Bedroom Condo in Phoenix's Optima Biltmore Community Just Sold!

Optima Biltmore is an amazing luxury condo community in the heart of Phoenix's vibrant Biltmore neighborhood, and our listing has officially Sold! Located on the 6th floor, this unit boasts floor-to-ceiling windows, a spacious master suite, a modern kitchen with stainless steel appliances and granite countertops, and a covered patio with amazing views.

The new owners will also be able to enjoy all of the incredible amenities offered at Optima Biltmore: rooftop pool, fitness center, and convenient access to incredible dining and shopping. We love helping our clients sell their Biltmore - Phoenix real estate, and if you are thinking about selling your condo or home, we want to hear from you!

Sell Your Biltmore Condo with The Kay-Grant Group

With its incredible location and bustling atmosphere, condos in the Biltmore community are in high demand! For more information about our services, or to schedule a Free Home Valuation, give us a call at 480-387-3990.

Jan. 10, 2022

UNDER CONTRACT: Renovated 2-Bedroom North Shore Condo

North Shore Renovated Condo Under Contract

Remodeled Two-Bedroom Condo in Tempe's North Shore Community Under Contract!

Our listing, a beautifully-remodeled unit in the popular Tempe condo community of North Shore, is officially Under Contract! Once the closing process is finalized, the new owners can enjoy everything this 2-Bedroom condo has to offer: the updated kitchen with new paint, accent lighting, and new granite countertops; custom tile and new glass-enclosed showers in both bathrooms, and a cozy covered balcony.

Best of all, both the buyer and the seller are represented by The Kay-Grant Group agents, which means a more streamlined process for both parties. We love helping our clients find the ideal buyer for their condo, and if you are thinking about selling your Tempe condo, we want to hear from you!

Sell Your North Shore Condo with The Kay-Grant Group!

We are dedicated to making the home-selling process as simple and stress-free as possible, and we are ready to put our expertise to work for you! For more information about our real estate selling service, or to schedule a Free Home Valuation, give us a call at 480-387-3990.

Jan. 7, 2022

JUST SOLD: Luxury Scottsdale Home in Grayhawk

Luxury Grayhawk Scottsdale Home Just Sold

Luxury 3-Bedroom Home in Scottsdale's Grayhawk Community Just Sold!

Grayhawk is one of the most popular golf course communities in North Scottsdale, and our 3-Bedroom luxury listing in Grayhawk has officially Sold! Key features of this home include a gorgeous front courtyard with sparkling pool, a spacious open concept living area, a lovely master suite, and a beautiful backyard with gas grill and covered patio.

Not only did this home go Under Contract within days of being listed, it went from Active to Closed in just 28 Days and closed for $100,000 above asking price! Demand is still exceeding supply in the Scottsdale real estate market, and if you are thinking about selling your Scottsdale home, you owe it to yourself to work with an expert!

Sell Your Grayhawk Scottsdale Home with The Kay-Grant Group

We are your Scottsdale real estate experts, and when combined with our comprehensive approach to marketing, we provide the ultimate experience for our listing clients. For more information about our services, or to schedule a Free Home Valuation, give us a call at 480-387-3990.

Jan. 5, 2022

JUST SOLD: Owner-Agent Home in Laveen

Metes and Bounds Laveen Just Sold

Four-Bedroom Home in Peaceful Area of Laveen Just Sold!

Nestled near the intersection of Carver Road and 39th Avenue in Laveen, this Owner-Agent listing has officially Sold! Now that the closing process is complete, the new owners can enjoy everything this beautiful 4-Bedroom home has to offer, including the 12-foot ceilings, wood-like tile flooring throughout most of the home, and a lovely backyard with sparkling pool.

Plus, the home is in a No-HOA subdivision, and conveniently located near the Loop 202, South Mountain Preserve and its numerous hiking trails, and so much more! We have helped clients list and sell their Laveen, AZ real estate, and if you are thinking about listing your home, we would love to hear from you!

Sell Your Laveen home with The Kay-Grant Group!

We utilize a wide range of marketing techniques to ensure your home receives maximum exposure to buyers. For more information about our services, or to schedule a Free Home Valuation, give us a call at 480-387-3990.

Jan. 4, 2022

Is Arizona Running Out of Affordable Housing?

As 2022 dawns, many in Arizona worry that the state is running out of affordable housing. Skyrocketing real estate prices coupled with low inventory have created housing problems for low to middle-income residents. 

A recent National Low Income Housing Coalitions (NLIHC) Gap report shows that Arizona ranks as the fourth worst state for affordable housing. The statistics revealed that there are approximately 26 affordable/available rentals for every 100 low-income households. Only Nevada, California, and Oregon ranked worse for affordable housing in the study. 

Wage Disparity and the Affordable Housing Shortage 

Despite the shortage, the state is not necessarily running out of affordable homes. Instead, there is a blatant difference between affordable housing in the state and inflation. Extremely low income (ELI) households make up 36% of those impacted by the so-called housing inventory shortage. Within those households, the residents often work as little as 20 hours a week. The low-wage jobs coupled with the lack of hours have made it impossible for ELI individuals to afford a home. 

Additionally, we must examine the 30% of seniors who are also classified as ELI households and simply cannot afford a home in the state due to their low social security. An additional 18% of ELI houses have at least one member on disability. 

Clearly, the problem that exists is with low-wage jobs and those struggling to subsist on social security or disability. Such individuals cannot even afford homes that are deemed ‘affordable’ by other standards. 

A Combination of Arizona Housing Shortage Problems 

The Arizona Department of Housing has come forward listing a multitude of issues that are compounding the affordable housing shortage in Arizona such as increasing home prices and the prohibitive cost of rentals. Also, the land prices are rising and many simply cannot obtain approval for apartment zoning, especially in the greater Phoenix area. Once approval is obtained for apartment units, the increased labor costs and supply chain issues are also driving the costs and timelines. 

Problems Impacting the Arizona Housing Market 

The many problems are impacting rent for Arizonans in the state. Rent Café lists the average cost of rent for an apartment that is 805 square feet at $1,400 per month. That is an increase of $200 from the 2020 price of $1,200 and another increase from the 2019 price of $1,100. Wages simply are not increasing to meet the prohibitive cost of the rent. 

Homelessness in Arizona 

The Homeless Management Information System reports show that homelessness is increasing throughout Maricopa County. In September of 2021, there were 5,100 homeless in the county which is an increase of 4,000 in just one year.

Factors Fueling the Arizona Housing Crisis 

Many things have exacerbated the problem of the housing crisis in Arizona such as the state’s rapid growth. 

 

The following statistics released by the Cronkite News report shows the factors that are fueling the so-called housing crisis in the state.

 

  • 200 new residents per day are moving into Maricopa County. 

  • Half of the jobs in Arizona pay less than $15 per hour.

  • Suburban sprawl is increasing the demand for housing.

  • An apartment boom is taking place in Maricopa, but the apartments charge over $1,000 per month for rent which is out of the budget of many. 

Housing Crisis vs. Low Wages

The housing crisis is a reality for those who earn low wages. In Arizona, reports have shown that a minimum wage earner must work 71 hours to afford a simple two-bedroom apartment. If an Arizonan makes the state minimum wage, then they must work two full-time jobs to pay for an apartment. This is not a phenomenon that is associated with only Arizona.

In a National Low Income Housing Coalition it was found that 90 percent of counties in the country are experiencing the same housing shortage. In fact, full-time U.S. workers must make $22.96 per hour to live in a two-bedroom house in virtually every state, not just Arizona. 

Rural Arizona Housing Problems

Many might think that moving out of metropolitan areas like Phoenix might solve the problem, but even rural areas are having a hard time coping. In most cases, rural residents are retired and struggling to live on fixed incomes. They often have a place to live but simply cannot keep up with essential repairs and maintenance which leads to properties that are often rundown.

Younger residents in rural locations have problems finding a job that even comes close to covering rent. 

Wealthy, urban second homeowners have also discovered the benefits of rural housing and its affordability so often snag up the low-income homes before local residents have a chance to make an offer. 

In rural areas, unemployment hovers at around 9.2% and shows no improvement. 

A Harvard Joint Center for Housing Studies shows that 41% of rural households often pay more than 30% of their monthly income for housing and at least 21% pay half of their income. The situation continues to worsen as huge disparities between income and rent grow. The lack of good jobs makes it difficult for renters to pay for rent and homeowners cover property taxes. 

Building Affordable Arizona Housing 

Arguments are made to build affordable housing in Arizona to meet the needs of the state’s underprivileged, but the reality is that the cost of building has skyrocketed. Building supplies are priced at an all-time high. It is simply not cost-effective for builders to build so-called affordable housing to meet the needs of low-income individuals.  

The growing population in Arizona is only going to snowball the housing crisis. Are there affordable houses in Arizona? Yes, there are affordable houses, but they might not meet the needs of ELI individuals. The housing issue in Arizona is not that the prices are too high but that the wages remain low and metropolitan sprawl often absorbs affordable rural housing. 

 

At this time, there is no easy solution to the housing dilemma faced by the state’s residents, but many are working to find solutions. 

Dec. 23, 2021

UNDER CONTRACT: Three-Bedroom Casa Mesa Home

Casa Mesa Home Under Contract

Three-Bedroom Home in Mesa's Casa Mesa Under Contract!

Our clients are officially Under Contract on this charming home in a great area in Mesa! Key features of this 3-Bedroom home include tile flooring throughout, updated maple cabinetry in the kitchen, ample-sized bedrooms, and a lovely backyard with amazing landscaping.

Best of all, the home is in a great location, with convenient access to the heart of Downtown Mesa, the Loops 101 and 202, and numerous popular restaurants. There is high demand for homes for sale in Mesa, and if you are in the market for real estate in this popular East Valley suburb, we would love to hear from you!

Looking to Buy a Mesa Home for Sale?

Our team is dedicated to helping clients make an informed decision on their perfect home, and we are ready to put our expertise to work for you! For more information about our services, or to schedule a consultation, give us a call at 480-387-3990.