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E M A I L U S AT N E W S T I P S @ A R I Z O N A R E P U B L I C . C O M O R C A L L U S AT 6 0 2 - 4 4 4 - N E W S ( 6 3 9 7 )
CATHERINE REAGOR
MONTHLY EXPENSE
Phoenix-area rents are rising along with home prices It’s no wonder that so many renters are buying homes in metro Phoenix. ¶ The cost of renting a Valley house or condo is up $150 a month from early 2016. ¶ And despite the thousands of units under construction in the Phoenix area, the average rent for apartments is up almost $50 a month from last year. ¶ And those increases come after even bigger ones in 2015-16. ¶ Real-estate agents often tell me one of the top reasons Millennials are buying now is rising rents. ¶ Also, boomerang buyers — people who lost houses to foreclosure during the crash — are purchasing again to try to hedge the Valley’s rising rents.
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Construction on a Christopher Todd Communities rental property in Surprise is expected to be finished this winter.
The number of metro Phoenix home sales reached 8,113 through August of this year. That’s up 3.4 percent from last year, according to the Arizona Regional Multiple Listing Service.
The median price to rent a Valley home or condo climbed to almost $1,400 in August. That compares with about $1,250 in January 2016, reports ARMLS.
REFINANCE NOW! Mortgage Rates Have Dropped Expert Guidance - Hassle Free Approvals Lightning Fast Closings!
The average rent for all Phoenix-area apartments is now $1,012, according to Phoenix-based ABI Multifamily. That compares with $970 a year ago.
You don’t have to pay a lot in fees to get a great rate!
480.607.7906 or visit us at scoutmortgage.com 9304 E Raintree Dr., #110 Scottsdale, AZ 85260 Visit us on Facebook
This advertisement is a solicitation by Scout Mortgage, Inc. for a mortgage loan. The No Loan Cost program is only available for loan amounts $150,000 and higher. Loan Costs paid by Scout Mortgage do not include prepaid interest, initial escrow reserve deposit or interest and fees associated with paying off existing mortgage(s). No Loan Cost program not available for non-owner occupied properties. Not all applicants will be approved. Good Credit and Verifiable Income Required. Other loan programs are available. Rates are subject to change. Call for Details. AZ MB 0903218 / NMLS #56553.
SCOTTSDALE | 10390 East Lakeview Drive, #205 | Open Today 1–4PM
WATERFRONT LUXURY. Nestled in an intimate cul-de-sac, MLS# - 5663799 this beautiful home enjoys an undeniably alluring lakeside locale Bedrooms - 3 with panoramic lake and McDowell Mountain views. Warm and welcoming, the great room is dressed in handsome flooring Bathrooms - 4 Pool - Community with a fireplace and wet bar. An expansive culinary space, the eat-in kitchen boasts stainless appliances and gleaming Marble Sq. Ft. - 3,249 counters. Savor sunsets from the covered and open-air wrapParking - 2-Car Garage around balcony, overlooking your private boat dock. Relax ZIP Code - 85258 away the day in the sitting room master. New textured carpet, Hunter Douglas shades, intercom system, owned water softener Online Pics - ThoseCallaways.com and fire sprinklers. Two-car epoxy floor garage. Scottsdale Price - $820,000 Ranch community amenities. – Joseph Callaway
Brought to you by Those Callaways Luxury Circle International, (480) 596-5751
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AR-0008663740-01
PARADISE VALLEY | 7516 North Clearwater Parkway | Open Today 12–4PM
RECENTLY REDUCED, AWESOME INVESTMENT MLS# - 5590590 OPPORTUNITY. Big, bold and beyond-beautiful, this Bedrooms - 4 hillside hideaway boasts a bevy of mountain and city lights views from its posh perch in the exclusive Clearwater Hills Bathrooms - 5.5 Pool - Yes neighborhood. Amazing location, distinctive design. Elegant ascending driveway. Grand foyer w/wide-stepped staircase, Sq. Ft. - 4,817 wall of windows that frame magnificent Camelback Mountain ZIP Code - 85253 views. Family room w/vaulted-beamed ceiling, huge windows. Crisp modern kitchen. Master bath w/romantic slipper-tub Online Pics - BaldwinTeam.com Price - $1,330,000 in intimate mountainside alcove. Plush media room. Poolside casita. Generous terraces and view-patios. Shimmering infinityedge pool overlooking Valley-wide views of rugged mountains and glittering city lights. Visit tourfactory.com/1761267.
Brought to you by Sandra Baldwin and Kyle Caldwell, Launch Real Estate
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