KIESHA McFADDEN CHECKING IN WITH... IS THERE A HOUSING MARKET COOL-DOWN ON THE HORIZON FOR ARIZONA? /// National housing experts say as temperatures cool down this fall, the recent home-buying frenzy could be slowing down as well, but will the same happen here in Arizona? We know prices have skyrocketed here in the last 12 months. According to Zillow, Phoenix and Scottsdale home prices jumped 30%, Mesa 29.5%, and Chandler and Tempe rose 27%. Median home prices range from over $700,000 in Scottsdale to $360,000 in Phoenix. Buyers have taken drastic steps that include waiving inspections, writing letters to current owners, even offering tens of thousands of dollars above the asking price just to move in. The good news for homebuyers is that sales have been decreasing slightly over the last couple of months. With demand down, prices could be following as the supply of homes on the market grows. We’re starting to see a little more inventory, which means sellers are having to get a little more realistic when pricing their homes. I don’t expect home prices to drop, but I do believe more inventory means less competition. With the steady influx of out-of-state residents, home prices will continue to climb, even if at a slower pace. Regarding interest rates, they’re still the lowest they’ve ever been, but economists say that could change going into 2022. So, what does this all mean for you if you are in the market for a new home? We should chat. With homes expected to hold their value, the payment you’re expecting to make could be larger than what you are currently planning for if rates go up. Always remember, the best way to take advantage of a good thing is to act now. GALA GOODNESS Huge congrats to Amanda Hope Rainbow Angels! The 9th Annual Night of Hope Gala surpassed its goal of $500,000. The money raised goes to assisting families with “here and now” needs. An average of $136,000 per year is spent on treatment, and treatment lasts an average of three to four years. Amanda Hope Rainbow Angels provides financial aid to help Arizona families with groceries, meals and utilities because they know that cancer treatment is stressful enough. 16930 E. Palisades Blvd., Fountain Hills, AZ 85268 NMLS #1467650 KIESHA MCFADDEN 480.252.9365 Kiesha@TolisMortgageUSA.com NMLS #198458

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