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Phoenix area real estate: Are we headed for another bust?
azfamily.com |
LiAna Enriquez
April 17, 2019
3 ON YOUR SIDE (3TV) - Valley home prices have gone up nearly 8% over the past year and they're expected to keep rising through the next year. For sellers like Celia Peña, it's a good thing. "Seriously, we had no words. We just looked at each other and we're like, this is really happening," said Peña.
Peña says she was shocked when she and her husband put their Chandler home up for sale and it sold in two days. She says that's a far cry from when they first tried selling their home a few years ago and gave up.
"In 30 days, we had no bites and so we pulled it off two years ago. And two years later, our house is pending," said Peña.
But some worry that the real estate market may be a little too hot, pushing us into another housing bubble. It happened more than a decade ago when the demand for houses increased dramatically. When demand fell, the market crashed back in 2008.
"We have been this cyclical economy, and we became known for this boom/bust growth pattern," said Mark Stapp, a professor in real estate at Arizona State University's W.P. Carey School of Business.
Currently, Stapp says the housing market is healthy. And, in his opinion, consumers shouldn't worry. "People fear that we're going to see another housing bubble like we did that began that last recession. I don't see any of that. There are none of those underlying, fundamental characteristics that exist today," he said.
A decade ago, Stapp says the real estate market shot up too much, too fast. But currently, he says there's been slow and steady growth pattern over a long period of time, which is good.
One market driver, he says, has been the development and growth of downtowns like the expansion of Arizona State University and the University of Arizona campuses.
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These Changes Could Mean It's Time to Reevaluate Your Home Insurance Policy
If you haven't updated your home insurance policy, then it's probably time you reevaluated it, especially with summer's increased risks.
10 Reasons to Review and Update Your Homeowner's Insurance
If you haven't reviewed your homeowner's insurance in a while, then now is the time to do it before summer arrives. Summer presents a range of risks you don't have to worry about the rest of the year, so you need to make sure you're protected. Here are ten reasons you should review and update your homeowner's insurance policy before summer rolls in.
Increase in Personal Property Values
Did you receive expensive gifts or did you give some to your family this past Christmas? If so, then your personal property value might be considerably higher now that it was last year at this time, and your policy needs to reflect that change.
Swimming Pools
If you have a swimming pool, you need to make sure you let your insurance company know, even though it will raise your premiums. Swimming pools are notorious for causing injuries every summer, so you will want to ensure you're covered in case someone gets hurt on your property.
Trampolines
Just like swimming pools, trampolines are fun but they can pose a high risk of injury. You need to make sure your trampoline is included in your policy before the neighborhood kids start using it.
New Pets
Did you adopt a new pet over the last year? If so, then you need to let your insurance company know about the addition, so you're protected in the event your pup bites the mailman's leg.
Home Renovations
If you added an addition to your home or made other home renovations, then you will want to include them on your homeowner's insurance policy. Or, if you're making the renovations this summer, then you may also want to increase your liability insurance if you're using contractors to protect yourself in case a contractor is injured on your job. Once the project is complete, make sure your housing replacement cost reflects the updates.
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Mccormick-Stillman Railroad Park
7301 E. Indian Bend Rd.
Scottsdale, Az 85250
June 9-- High Tide Beach Boys Tribute
June 16-- One Of These Nights Eagles Tribute
June 23-- Motown Magic Various Motown
June 30*--Garth Live! Garth Brooks Tribute
7:30 Pm To 9:00 Pm
Recurring Weekly On Sunday
Free
(480) 312-2312
_____________________________________________________________________
Ongoing Calendar of Concerts
Event Calendar
Taliesin West
12621 N Frank Lloyd Wright Blvd. Scottsdale, Az
June 8, 2019
10:00 Am To 4:00 Pm
Free And Open To The Public, But Advance Registration Is Required
Smoca-Scottsdale Museum Of Contemporary Art
7374 E. 2nd St. Scottsdale, Az
June 8, 2019 To October 6, 2019
Recurring Weekly On Sunday, Tuesday, Wednesday, Thursday, Friday, Saturday
Included With Museum Admission
(480) 874-4640
Location: Queen Creek Library
21802 S Ellsworth Rd Queen Creek, Az 85142
January 5, 2018 - December 27, 2019
Recurring Weekly On Friday
5:30 Pm To 9:00 Pm
Free Admission, Food And Beverage Available For Purchase
(480) 729-3214
Downtown Mesa - Between Country Club And Center Street On Main Street
120 West Main Street Mesa, Az
Starting June 14, 2019
Recurring Monthly On The 2nd Friday
6-10 P.M.
Free
(480) 890-2613
Phoenix Convention Center
100 N. 3rd Street Phoenix, Az
June 15, 2019
11:00 Am To 8:00 Pm
$20 Ga, $15 Military, Kids 12 And Under Free
Grand Canyon National Park
S Entrance Rd Grand Canyon Village, Az
June 22, 2019 To June 29, 2019
Early Peek at
4th of July Events
By Judy Hedding | Tripsavvy
Westworld Of Scottsdale
16601 N. Pima Road Scottsdale, Az
Date: July 4, 2019
Phone: 1-866-977-6849
Time: 4:00 Pm To 9:30 Pm
Price: $10 In Advance; $15 At The Door; Vip $25 In Advance; $5 For Scottsdale Residents. Children 6 And Under Are Free.
Pleasant Harbor At Lake Pleasant
8708 W Harbor Blvd. Peoria, Az
Date: July 3, 2019
Phone: (928) 501-5270
Time: 5:00 Pm To 11:00 Pm
Tempe Beach Park
620 North Mill Avenue Tempe, Az
Date: July 4, 2019
Phone: (480) 350-5189
Time: Gates Open At 5 P.M.
Price: See Website For Details.
Mesa Amphitheatre/Mesa Convention Center Complex
263 North Center St Mesa, Az
Date: July 4, 2019
Phone: (480) 644-2432
Time: 6:00 Pm To 10:00 Pm
Price: Free
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