Category: Latest Posts

It's been an interesting few weeks in the housing market—new listings across the US nudged up 0.4% in the four weeks ending August 23, while total homes for sale climbed 0.5%, hitting their highest point since early spring. Even with more homes popping up, pending sales dipped 1.1% to a 6-month low, with higher housing costs keeping many folks on the sidelines. The median home price still rose 1.9% year-over-year to just over $400,000, and average mortgage rates hovered near 7%, the highest they've been in over a year.

What does this mean for buyers and sellers? For those actively searching, there’s a bit more breathing room—more inventory and less competition open the door for negotiating price cuts or concessions in many markets. Experts are pointing out that homes lingering on the market for a few weeks often give buyers the most leverage, while sellers are seeing the best results by setting realistic prices rather than aiming for last year’s peaks.

Having spent decades running my own business before real estate, I know the value of timing and honest pricing in any market. In a shifting landscape, being both informed and realistic goes a long way toward a great experience—something I always strive for with my clients and friends alike.

As someone who’s called Arizona home for decades—both in the Valley and up north—I know firsthand how unique the journey is for first-time buyers here. If you’re starting out, it’s smart to lay a strong financial foundation early: check your credit, pay down those revolving balances, and steer clear of new loans before you even start looking at homes. Don’t let the myth of a huge down payment hold you back; in Arizona, conventional loans can start around 3%, FHA loans near 3.5%, and there’s state and county help available too. Pre-qualification will give you a ballpark, but formal pre-approval—where your documents and credit are verified—really strengthens your offer in the eyes of sellers. When touring homes, be sure to take a close look at HVAC systems, insulation, roof condition, and how the property handles our Arizona sun—all of these can impact your future utility and maintenance costs. After your offer is accepted, you’ll enter escrow, hire a qualified inspector, and have a chance to request repairs or, if it comes to it, walk away with your earnest money protected. My commitment is always to make the process as smooth as possible for you, so you can focus on finding not just a house, but a place to call home.

It’s always fascinating to see how luxury home sales can differ so dramatically across the country. A recent review of public luxury sales in major US metros revealed an incredible range—from $3.7M listings all the way up to an impressive $130M. Some markets are especially deep, with even the fifth-highest sales still topping $10M, while others are a bit more tightly grouped, like one metro where the top five ranged between $24M and $40M. These numbers come from publicly listed properties, so it’s possible that even bigger deals are happening quietly behind the scenes. After 30 years running my own business and now helping clients navigate the Arizona real estate market, I’ve learned every community has its own unique flavor—whether it’s a cozy family home or a headline-making estate. If you ever want to chat about what’s happening in our market, I’m always here—once we connect, you’ll have a friend for life.

Here’s a quick look at Payson’s latest real estate activity. Homes are taking a bit longer to sell, and fewer properties are changing hands. The number of available homes remains similar to previous months.