MAY/JUNE 2021 | 32 | FRONTDOORS MEDIA KIESHA McFADDEN CHECKING IN WITH... A HOT HOUSING MARKET /// I recently sat down with one of Valley’s top real estate agents, Joe Tropple of Realty One Group in Tempe, to discuss the exploding real estate market. :: ARE WE ON THE VERGE OF ANOTHER HOUSING BUBBLE LIKE WE SAW IN 2007? The leading statisticians agree that we are not on the verge of any sort of housing bubble collapse and instead have entered into a “Golden Age.” Home prices are on the rise at a staggering pace of 3% a month on average and they expect us to reach beyond 30% by year’s end. This rapid growth has some home buyers and sellers worried that it is happening too fast and make them think back to 2007 when the bottom fell out. :: IS THE RAPID INCREASE IN HOUSING PRICES CAUSING BUYERS TO DROP OUT OF THE MARKET? While it is true that some buyers are dropping out because prices are increasing so rapidly that they now can’t afford what they want, it is not nearly to the point where we are seeing it slow down the rate of appreciation. Buyers being outpaced is one way rising prices rebalance the market. However, experts agree that we still have some substantial price increases ahead of us. :: SHOULD BUYERS WAIT UNTIL THE MARKET COOLS BEFORE BUYING THEIR NEXT HOME? It depends if you are upgrading to a bigger home or downsizing to a smaller home. If you are downsizing, you might want to wait to sell until the inventory increases closer to 20,000 homes. Remember, right now, we only have around 4,600 and would require closer to 30,000 homes before the market starts to soften. Until then, sellers looking to downsize should ride out the appreciation train as long as they can. If you are moving to a bigger or more expensive house, you should probably act as soon as possible. As prices increase on your smaller home at a rate of 30% a year, so is the house you want to upgrade to. SUMMER IS HERE, AND SO ARE THE EVENTS! It’s so exciting to see in-person events happening again. :: Valley of the Sun 20/30 VIVA event will take place May 7, 2021 @ Warehouse 215 :: Amanda Hope Rainbow Angels Night of Hope Gala is coming on Sept. 18, 2021. :: The Leukemia Lymphoma Society’s Man & Woman of the Year is in full swing. This year, I’m supporting Sara Mayer and her team Bee Positive. 16930 E. Palisades Blvd., Fountain Hills, AZ 85268 NMLS #1467650 KIESHA MCFADDEN 480.252.9365 Kiesha@TolisMortgageUSA.com NMLS #198458

FRONTDOORS MEDIA | 33 | MAY/JUNE 2021 Since 2018, Frontdoors Magazine has proudly presented the Society of Chairs event to celebrate philanthropy in our community. This special evening serves as a toast to the women, men and institutions that have worked and volunteered to positively impact our community, especially during these unprecedented times. Event proceeds benefit TGen via the official foundation of Frontdoors Media, The Sauce Foundation, in honor of our former editor and dear friend Mike Saucier, who passed away from pancreatic cancer in 2017. Not only has TGen continued to make significant progress in both the treatment and early detection of pancreatic cancer, their work on COVID-19 — from testing to tracking to advanced genomic studies — has also made them internationally recognized pandemic experts who regularly serve and advise international, national and local agencies. Please join us in recognizing our award sponsors for 2021: (as of our print deadline) Community Champion Sponsors Char & Alan Augenstein Check for a Lump Volunteers EC70 / Executive Council Charities Eide Bailly Free Arts Board of Directors Linda Herold The O’Connor Institute for American Democracy Diana & David Smith