Scottsdale Real Estate Blog - Judy Orr

Real Estate Market Predictions for the Remainder of 2023

If you are a buyer or seller, or both, of real estate in 2023, you can easily tell that there has been a shift away from the crazy Seller's Market we saw in 2020, 2021, and the beginning of 2022. Prices are easing and homes are remaining on the market longer.

The real estate market in the US saw a rise in mortgage rates last year, which affected both demand and price appreciation. Availability of homes is no longer the main concern, although inventory still remains lower than normal, but affordability is a great factor for many home buyers. The real estate market is expected to finally stabilize due to the increase in mortgage rates. 

What will happen with mortgage rates?

Economists predict that mortgage rates will fluctuate less this year…

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Visiting Lake Pleasant Regional Park in Peoria, Arizona

We recently had friends in from Illinois and I couldn't wait to show them our hidden gem, Lake Pleasant Regional Park. Many people don't realize that Arizona has lakes, and some are an hour or less away from the greater Phoenix area. I've taken my friends to Canyon Lake when we visited Tortilla Flat (one of my favorite double-decker boat rides). I've also taken them on a boat tour of Saguaro Lake in Mesa. But this was our first group trip to Lake Pleasant in Peoria.

My husband and I took our first trip a while back since I was studying hiking trails and where to see wildlife. I read about the wild burros at Lake Pleasant so we took a trip when my son was out visiting and we saw a herd down on a dry waterway. We even got kind of close to a family of…

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What is the Difference Between Mortgage Pre-qualification and Pre-approval?

A guest author just wrote an article on benefits of getting pre-approved before purchasing a home getting pre-approved before buying a home. It really isn't just an idea or suggestion, most sellers will not accept an offer without at least a pre-qualification letter. If a seller doesn't understand the importance of this, the listing agent will educate them.

How it used to be done

When I first started selling real estate in 1983 there were no pre-qualification expectations. We would go through an entire loan process, waiting on pins and needles to see if the buyers would get approved for the mortgage. In many cases, they didn't.

In fact, we did our own pre-qualification process. We would just ask the buyers questions about their job history,…

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Living in Cave Creek - a Small Town with Big Town Amenities

Cave Creek has a small-town charm, as well as access to the larger cities of Phoenix and Scottsdale. With over 170 miles of hiking trails, the preserve, and nature trails, this small community is an ideal place for anyone to live. It is only about 30 minutes from Sky Harbor Airport in Phoenix depending on traffic.

The population of Cave Creek is just shy of 5,000 and has a high concentration of residents who own their homes. Cave Creek real estate offers many different subdivisions and areas with different home styles and lot sizes, including horse properties.

Living in Cave Creek offers numerous advantages. Here are some of the benefits of small-town living:

1 Town, 1 Zip Code

What's the big deal about that? Unlike it's much larger neighbor…

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The Scottsdale Real Estate Market and the State of Inflation: What You Need to Know

It's no secret that the real estate market has had ups and downs since the Great Recession of 2008. Prices fell precipitously during the crisis after reaching an all-time high in 2006 and have risen at a high pace in the past couple of years. The Federal Reserve has maintained interest rates at historically low levels in the meantime in an effort to promote economic expansion.

What will happen to the Scottsdale real estate market is the issue on everyone's mind right now as the economy keeps growing and inflation begins to increase. To help you better understand what to anticipate in the months and years ahead, we'll look more closely at the housing market and inflation in this article.

What is inflation?

Inflation is when prices for…

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New Laws Allow Paradise Valley to Fight Disruptive Short Term Rentals

Imagine owning a multi-million dollar Paradise Valley home (which is the highest-priced town in all of Arizona) and dealing with the noise, litter, and other inconveniences of short-term rental tenants at a nearby house. Paradise Valley, AZ, has attempted to create its own rules governing short-term rentals but has been hit with fines because its rules were going against the state of Arizona's short-term rental (STR) laws.

Why would the state allow such disruptive rental practices? Arizona is truly a destination state, and the state and towns earn revenue from STRs. These owners usually have to pay a permit fee and can be fined, plus they have to pay taxes on the Paradise Valley homes and income. 

I was surprised to hear about a commotion that…

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Out of Africa Wildlife Park - Camp Verde

I’ve already written a post about my son and my first visit to Out of Africa Wildlife Park before it moved to its new location in Camp Verde, Arizona. On our first visit to the new digs, they had just moved and were still building. I loved it when it was a little dumpy-looking attraction (from the exterior, before we went in) in Fountain Hills and it’s even better now in the new Camp Verde location. It is so much bigger and what a difference for the animals!

Every time we have newcomers to Arizona we ask them if they'd like to visit Out of Africa Wildlife Park. This time my family was in for Thanksgiving from California. I was happy to introduce them all to Out of Africa.

Feeding the giraffe

We always try to get on this tour as soon as we get…

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How Decluttering Can Help You Sell Your Scottsdale Home

Get your home organized and decluttered because potential buyers are known to be put off by chaos and mess. Decluttering can help you sell your home, but you'll start over in your new house with a peaceful, clutter-free environment. For many of us, cutting back on possessions is challenging because many things have a sentimental value associated with them in the form of memories and experiences. In contrast, others simply feel comfortable in a home full of their favorite items. But now is the time to start thinking about selling. The hard truth is that you have to make the best first impression on potential purchasers who are not interested in or need your recollections.

Buyers choose a home they can easily picture as their own and value storage…

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9 Ideas to Recreate Your Outdoor Patio Space

Unless you really love sitting outside much of the time, which is a bit more difficult with our hot Scottsdale summers, you spend more thought and time in making the inside of your Scottsdale home designed the way you like it. Maybe comfort is your goal, or you love current design trends. I like mixing the two. 

For many people, their backyards just don't get as much love. Following are some ideas you can follow to make your exterior as comfortable and lovely as the inside of your home.

1. Create a comfortable sitting area

When we moved to our new house with a nice covered patio, my first thought was getting a u-shaped outdoor seating set. This set is all hooked together so it appears to be one large sectional. I sit on it almost every…

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Benefits of Owning Rental Properties

Are you on the verge of deciding to become an investor or make the decision to diversify your existing investments? Perhaps you have also zeroed in on real estate investing – rental properties specifically as the best asset to put your money into.

As someone just starting in real estate investing, what are the things you should know? What are the definite benefits of owning rental properties versus other types of assets? Do the benefits of real estate investing have the potential to exceed the benefits from investing in other assets?

This post makes a case for real estate investing as the preferred method for securing and growing your capital. In this article you will see why investing in rental properties is not just a strategy for increasing…

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