Frequently Asked Questions
Faq
Is the market going to crash?
01
Not in Arizona. We are seeing 60% of listings with price reductions and 25% canceling or expiring, but a crash is unlikely given the influx of corporations and jobs coming to the West Valley.
Are home values going up or down?
02
Homes under $750K are seeing slight year-over-year dips, but overall prices have leveled off. The luxury market has been increasing in value, and we expect it to continue holding strong.
What are current mortgage rates, and when will they fall?
03
Rates are currently in the mid-6% to 7% range and are expected to stay there through the first half of 2027.
Is now a good time to buy?
04
Yes — the market is leaning in the buyer's favor, with many sellers discouraged and average days on market around 80.
Is now a good time to sell?
05
It depends on list price, location, and condition. Some homes still sell in their first week on market. A home must show well and be priced with today's market in mind — an overpriced listing won't sell, so pricing correctly from day one is critical. Length of ownership and reason for the move also factor in.
Whose market is it?
06
Today's market leans toward buyers overall. The luxury market is more balanced.
How do I get a mortgage rate at 5% or less in today's market?
07
Some new-construction builder incentives and assumable loans can offer lower rates — these "golden nuggets" can save buyers $300–$800 a month.
Do I need 20% down to buy my first home?
08
No — 3.5% is the minimum down payment for a primary residence in Arizona (FHA). USDA loans allow zero down for eligible rural properties. eligible-area only
I want to buy a lot and build a custom home. How realistic is that?
09
This is best suited for buyers with deep pockets, since costs add up quickly — land, surveyor, architect, contractor, septic, well, utilities, and permitting. Buying an existing home already built on land is often far more feasible.
How much do I need to make annually to buy a starter home in the West Valley?
10
It depends on your credit, current monthly debt, and down payment, but a safe estimate is $75K–$120K in annual income for a home under $550K.
When I sell my home, do I have to pay the buyer's closing costs?
11
You're not required to pay the buyer's agent compensation or closing costs, but for many buyers this is a make-or-break factor since they need those funds to close. To keep your home competitive, it's often recommended to stay open to covering some of these costs in today's market.
Do I have to sign a buyer broker agreement to look at homes?
12
Yes — as of August 2024, ADRE (Arizona Department of Real Estate) requires a signed buyer broker agreement before an agent can show homes. Choose an agent who is competent, market-savvy, and responsive.
What costs come with buying a home besides the down payment?
13
Beyond the 3.5% minimum down payment, expect a home inspection (typically $600–$1,000) and an appraisal (typically $700–$900).
How do you position a home to sell in today's market?
14
Price it in line with today's market and present it like a model home. Honest, professional guidance on pricing and presentation makes the biggest difference.
As a seller, do I need to pay the buyer's agent commission?
15
It's not required, but many buyers don't have the funds to compensate their own representation, which can limit the pool of buyers able to purchase your home.
Is a Realtor really needed to buy or sell in today's market?
16
More than ever. Data is everywhere, but is it accurate? We work in this market every day, so we know how to price a listing, evaluate an offer, and negotiate the best outcome for our clients. A full-time agent understands the market and the contracts and guides you from start to close. With shifting rates, inventory swings, and new disclosure rules, an agent's local pricing knowledge and negotiation skill protect you from costly mistakes — DIY tools can show you listings, but not the judgment needed to navigate contracts, contingencies, and multiple offers.