New Build in Peoria's Vistancia Community Under Contract!

Vistancia is one of Peoria's fastest-growing master-planned communities, and our clients are officially Under Contract on a beautiful new build! Once the closing process is complete, our clients will have plenty to love about their home, the community, and the surrounding area. In addition to being a part of a growing community, residents of Vistancia also enjoy access to numerous golf courses, community parks, shopping centers, restaurants, and hiking trails.

Additionally, close proximity to the Loop 303 makes commuting simpler, and Lake Pleasant is just a few miles away! New builds are selling quickly throughout the Valley, and if you are in the market for a beautiful newly built home in the West Valley, an experienced real estate agent can go a long way!

Looking to Buy a New Build in Peoria?

Whether it's in a master-planned community, or a subdivision, we can help you with everything you need to know about new builds in Peoria and throughout the West Valley. For more information about our services, or to schedule a consultation, give us a call at 480-387-3990 or fill out our Contact Form. 

Beautiful Luxury Home with Guest House in Buckeye's Verrado Under Contract!

Located in Buckeye's popular Verrado subdivision in the West Valley, our client's offer on this spacious luxury home has officially been accepted! Once the closing process is complete, our client will have plenty to love about this 5-Bedroom, 6-Bathroom home, including soaring ceilings with exposed wood beams, a gourmet kitchen with stainless steel appliances and quartz countertops, a palatial master suite, a 650-square-foot guest house, and a sparkling pool in the backyard!

Plus, the home is near a popular golf course, numerous hiking trails, Interstate 10, and great local schools. We love helping out clients find their dream luxury home in Buckeye and the entire West Valley, and if you are in the market for a similar home, we want to hear from you!

Looking to Buy a Home in Buckeye, AZ?

Our goal is to make the home-buying process simple, and if you are thinking about buying a home in the quiet community of Buckeye, we would love to help you! For more information about our services, or to schedule a consultation, give us a call at 480-387-3990 or fill out our Contact Form.

Spacious 4-Bedroom Home in Glendale's Pinnacle Hill Just Sold!

Closing day is always a great day for our listing clients, and this beautiful 4-Bedroom home in Pinnacle Hill has officially Sold! Key features include soaring ceilings, stainless steel appliances and granite countertops in the kitchen, spacious master suite, and a lovely backyard with sparkling private pool.

As for our clients, their home took just 34 days to close, and received Full Asking Price! The West Valley is one of the fastest-growing areas in the Greater Phoenix area, and buyers are lining up. If you are thinking about selling your Glendale, AZ real estate, we would love to hear from you!

Sell Your Glendale Home with The Kay-Grant Group!

We utilize a comprehensive marketing approach to listing and selling a home, which helps maximize exposure to eager 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.

Ron Pacioni Earns Luxury Home Marketing Specialist Certification!

One of the hallmarks of a top-producing real estate team is when agents further their skillset, which is why we are proud to announce that The Kay-Grant Group's Ron Pacioni has officially earned the designation of Certified Luxury Home Marketing Specialist! In order to be considered for this designation, a real estate agent must demonstrate an ability to close transactions for luxury real estate, and Ron has done so for many of his clients

By receiving this certification, Ron is able to provide a higher level of service and expertise to his clients, and further establishes the dedication to excellence we strive for at The Kay-Grant Group! Congrats again to Ron and this amazing accomplishment, and if you would like to learn more about his experience in real estate by visiting Ron Pacioni's bio page.

Beautiful 3-Bedroom Townhome in Phoenix's Fireside at Desert Ridge Just Sold!

Our listing, a 3-Bedroom townhome in the popular gated community of Fireside at Desert Ridge, has Just Sold! Now that the closing process is complete, the new owners can enjoy everything this townhome has to offer, including the cozy front courtyard, granite countertops and stainless steel appliances in the kitchen, and convenient access to all of the fun and excitement of Desert Ridge!

For our listing clients, their townhome went from Active to Sold in just 32 Days, and received Full Asking Price! Inventories are still super low throughout the Valley, and if you are interested in learning more about what your Phoenix townhome could receive, we want to hear from you!

Sell Your Phoenix Real Estate with The Kay-Grant Group

Listing and selling a home or townhome can be a stressful process, but when you work with the right real estate team, it doesn't have to be! 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.

Retirees, outdoor enthusiasts, families seeking a strong community, and a bevy of urban professionals and businesses converge on the Phoenix area. 

Arizona has beckoned homebuyers for decades. Sadly, for current buyers, the state is now in the throes of being an extreme seller’s market, which has sent buyers scrambling to score a house. Record home prices continue to climb, and the inventory remains at an all-time low. With supply down, buyers are struggling to find a home that is not only within their budget but also fits their specific requirements. In this guide, we will explore a few tips for buying a home in Arizona’s seller’s market. 

Why is Arizona a Seller’s Market?

Since the onset of the COVID-19 pandemic, a nationwide real estate seller’s market has occurred. However, Arizona is leading with spiking home prices. Buyers are fueled by record-low mortgage rates and a need for a change with many home shoppers carrying out home searches online in an effort to relocate. 

A seller’s market is lucrative for real estate agents and sellers, but it costs homebuyers time and money as they face long waits to find the perfect house and increased prices. Many buyers find themselves having to modify their ‘must-have’ criteria in an effort to at least score a home because most homes that come up for sale have an offer, or many, within 24 hours of hitting the MLS. At the time of this writing, even as we go into the winter months, the trend is not slowing down. 

Tips on Buying a Home in Arizona During a Seller’s Market 

Prepare to Pay Over Asking Price

A seller’s market is almost like a bidding war. A home buyer has to prepare to pay over the asking price of a home. In fact, the asking price is really just the starting point. Houses are often going for $10,000 to $50,000 above the asking price as a multitude of offers flood in over a coveted property. If you are a home buyer, then you need to think about your budget and shop well below your cut-off number so you can offer more. You’ll need to determine exactly how high you are willing to go to win a home in a seller’s market. 

Obtain Pre-Approval

You should always be pre-approved for a mortgage before shopping for a home - in fact, most agents won’t even show you a house without a letter of pre-approval. Also, you should obtain pre-approval for at least $50,000 more than you want to spend because you’ll face a real estate bidding war in Arizona, and you’ll need to have the cushion to make any sort of serious offer and stand strong against the competition. 

Example:

If you expect to spend $500,000 then obtain a letter for pre-approval for $550,000 above what you expect to spend. 

Having a letter of pre-approval for over and above the amount shows the seller that you will be able to close on the home easily because you can afford more than you are buying, and you have not topped out your finances. It basically gives the seller peace of mind. They can pick your offer over someone who is toeing the line by having a letter of preapproval for the exact offer amount which might indicate they have no additional funds if necessary to close the deal in a timely manner. 

Cash is King 

Yes, when buying in a seller’s market cash is king. It’s hard for a buyer who needs financing to stand up to an investor with a pocketful of cash. Also, if you have ample cash, then a lender sees you as less of a risk if you need to finance some of the purchase price. A seller likes to see a buyer with cash because they seem stable, and a seller knows that if a small thing should be revealed during an inspection, then a cash buyer won’t get as upset. Cash buyers tend to make fewer demands and accept small imperfections. 

If you have adequate money to put down on a home during a purchase then you are in a much better position to make a strong offer, reduce the appraisal risk and score a far better interest rate. 

Cash buyers who plan to purchase entirely with cash are in a highly competitive position. However, a cash buyer will not score a lower price or a better deal in a seller’s market. Instead, a cash buyer’s offer is just stronger than an offer where the buyers must seek financing. With cash, the seller’s risk is reduced because the appraisal contingency and the financing contingency are removed and no longer a part of the contract. 

Get Ready to Act - Speed is Crucial

In a seller’s market, a buyer cannot sit around on their laurels as they try to make a decision. While you are riding the fence trying to decide if you want to buy the home then someone else will swoop in and cinch the deal. Most contracts in Arizona are accepted within six days of the home being listed so you don’t have a lot of time to make a decision. 

Speed matters when you are gearing up to make an offer during a seller’s market in Arizona. You should be working with an experienced agent who is always aware of other offers, knows when all offers are due, and has a good idea of the competition. 

Reduce Seller’s Risk 

When it is NOT a seller’s market a buyer has the luxury of negotiating closing costs and repairs. However, with a seller’s market, the dynamics have changed and now the power is entirely in the hands of the seller. A buyer has to actually sweeten the deal such as being willing to waive appraisal continues, purchase a home as-is condition, or use escalation clauses to better push their position. If you are willing to forego a few things then even if you are a non-cash buyer, you might still be able to come out ahead. 

Submitting Offers

Nowadays, in Arizona, a buyer has to be ready to submit about two-five times the number of offers that they did pre-2020. The landscape of the consistent demand and limited inventory is not forecast to change any time soon. You’ll want to ensure you work with an aggressive agent who can effectively and quickly negotiate a deal. It is imperative that you do not partner with an agent who takes their time submitting offers or you are going to miss out on the home you want to buy. 

Use an Escalation Clause

Escalation clauses are used only in a strong seller’s market. Prior to 2020, many new agents weren’t even familiar with escalation clauses. Basically, an escalation clause is a buyer’s way of letting the seller know that they are willing to increase their offer by $500 or more if a competing offer comes in. They will increase the offer to a specified amount. This is a way to gain a much-needed edge in the highly competitive seller’s market and is being used frequently by experienced agents in Arizona. 

Seller Occupancy 

Many sellers require extra days after closing to move out of the home. Offering them extra days in the home is great to come out ahead of the competitive offers. The sellers will appreciate the extra time and will probably look more favorably on your offer compared to another offer that is demanding immediate vacancy or is not being as generous on a time allotment. 

Close Fast

If the home is vacant, then many sellers want to close fast. If you can offer a fast close, then the seller is probably going to be happier. Closing early can save the seller a substantial amount of money overall so an early close can definitely put your offer in the lead position. 

Seek the Help of an Experienced Agent 

Buying a home during a seller’s market in Arizona is not for the faint of heart. It’s going to take work and perseverance. You’ll want to work with an experienced real estate agent who is familiar with the area and the current state of the market. Your agent should also know about housing loan lenders so you can receive the guidance needed throughout the entire home buying process.  

Change Your Expectations 

Home shopping is an exciting experience, and you shouldn’t allow yourself to become discouraged. One of the keys to success is to be open to change. It is going to take time and you might have to modify your requirements. Maybe you will have to lower your square footage needs, the number of bathrooms, neighborhoods, or other aspects because of the limited supply of homes available. 

If the offer you make on a home is turned down, don’t let that stop you. Move on to the next offer and continue forging ahead. Eventually, you’ll find a home to fit your needs even in a strong seller’s market in Arizona.

If you are in the market for a new home or would like to list your home for sale give us a call at 480-387-3990 or fill out our contact form above.

Spacious Two-Bedroom Condo in Scottsdale's Optima Camelview Under Contract!

We love Optima Camelview, and our client's offer on this beautiful 2-Bedroom unit has been accepted! Once the closing process is complete, they will be able to enjoy everything this condo has to offer, including the floor-to-ceiling windows, the gourmet kitchen with stainless steel appliances and granite countertops, and a cozy covered patio.

Plus, all of the great amenities offered by Optima Camelview are easily accessible: the on-site restaurant, fitness center, putting green, indoor and outdoor pools, and so much more. This luxury condo community is among the most popular in all of Scottsdale, and if you are looking to buy an Optima Camelview condo, we would love to hear from you!

In The Market for an Optima Camelview Condo?

Our team has helped numerous clients find the perfect condo in Optima Camelview, 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 or fill out our Contact Form.

Steve La Terra, a former real estate analyst, has officially launched TerraLane Communities with plans to build more than 1,100 upscale luxury single-family rental homes in metro Phoenix within the next two years.

With $250 million in assets already under development for five communities in metro Phoenix, plans call for expanding into Colorado, Utah, Texas and perhaps even to Florida, Georgia and the Carolinas, said La Terra, who serves as CEO of TerraLane Communities. "I have been studying this space for years before I launched into it," he said.

Originally, when he was putting the company together over the past couple of years, he set up dual headquarters in Phoenix and Newport Beach, California, initially calling the company RSI/NP Communities LLC. But now, he's officially launching the company, named TerraLane

Communities, with its main headquarters in Scottsdale.

His goal is to use technology to set his business apart from all the other builders getting into this rapidly growing build-to-rent sector, where single-family detached homes are built into a  community with resort-like amenities. Fiber Optic cabling is installed in every TerraLane home, allowing for seamless integration of future technologies as they advance, La Terra said.

Every home is equipped with Honeywell's Smart Home system, which consists of voice-activated technology, self-monitored alarm systems, keyless entry and other security features, such as facial recognition guest entry. Wi-Fi routers are pre-installed in each

home to provide ultra-high-speed internet, or 1 gigabit per second.

The gated access communities will include heated swimming pool and jacuzzi, outdoor poolside sunning deck, ramada and flatscreen TV, barbecue grilling stations and outdoor fire pit with

Seating. Rental rates range between $1,400 for a one-bedroom unit to somewhere between $1,800 and $1,900 for a two-bedroom home, La Terra said. All homes are pet-friendly, with pet doors leading to the backyards.

Tim Sullivan, senior managing principal at Zonda market research firm, had worked with La Terra several years ago back when Zonda was called Meyers Research. "Steve La Terra has launched a very thoughtful new series of communities focused on the deep build to rent opportunities in Maricopa County," Sullivan said. "His background in land, finance, and research have set him up to lead TerraLane into great success in the space. They have great product and consumer insights and I expect they will continue to build great places to live."

TerraLane's five existing communities include:

• TerraLane at Canyon Trails

Address: 195 N. 173rd Ave., Goodyear

Units: 263

Leased: 120

Status: Phase 4 recently opened with Phase 5 nearing completion.

• TerraLane on Cotton

Address: 17180 W. Sweetwater Ave., Surprise

Units: 245

Opening: Q1 2022

• TerraLane at South Mountain

Address: 8449 S. 59th Ave., Phoenix

Units: 148

Leased: 51

Status: Phases 3 and 4 are underway with stucco and framing.

• TerraLane at Canyon Trails South

Location: Immediately south of TerraLane at Canyon Trails, along

173rd Avenue in Goodyear

Units: 299

Status: Development of the project site is underway with clearing

and grading complete.

Opening: Q1 2023

• TerraLane at Park McDowell

Address: 2250 N. 95th Ave., Phoenix

Units: 163

Status: In development with slab pouring scheduled to start in Q1

2022.

Opening: Q4 2022.

This article was originally published in The Phoenix Business Journal on November 1, 2021. You can view that article by clicking here.

Three-Bedroom, One-Bathroom Off-Market Property in Scottsdale Just Sold!

This 3-Bedroom Off-Market home in a prime Scottsdale location has officially Sold! Nestled near the intersection of Thomas and Scottsdale Roads, this home is in a No-HOA subdivision, and is in the perfect area to be a profitable short-term or long-term rental property.

Nearby attractions include Scottsdale Stadium, Old Town's Entertainment District, the parks and golf courses along the Indian Bend Wash Greenbelt, and numerous great local restaurants! We are your Scottsdale real estate experts, and if you are considering selling your Scottsdale home, you owe it to yourself to work with an expert!

Sell Your Scottsdale Home with The Kay-Grant Group

Our team is dedicated to providing an unparalleled client experience, and we would love the opportunity to work with you! 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.

Four-Bedroom Home in Awesome Glendale Subdivision Under Contract!

Our listing, a beautiful, renovated home in the popular Glendale subdivision Tierra Norte, has officially went Under Contract! Once the closing process is complete, the new owners will have plenty to love about this 4-Bedroom, 2-Bathroom home, including the modern kitchen with stainless steel appliances and granite countertops, a huge master bedroom with dual vanity and separate shower and tub in the master bathroom, and a great backyard with a pool, spa, and artificial turf.

Best of all, this home is in a No-HOA subdivision, and is conveniently located near Peoria Sports Complex, Arrowhead Towne Center, and the Loop 101. Homes are selling at record paces throughout the Valley, and if you are interested in learning what your Glendale home could sell for, we want to hear from you!

Sell Your Glendale Real Estate with The Kay-Grant Group

We strive to provide the ultimate client experience for our seller clients, and we are ready to put our expertise to work for you! 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.