Buying a Home Near SR-24? The March 2026 Noise-Wall Rule You Need to Know

Will ADOT build a sound wall behind my new home on SR-24? It depends on when your subdivision was permitted. That detail almost never comes up at the sales office. Here's what buyers near the SR-24 corridor in Queen Creek and San Tan Valley should know before signing.

The Rule

As part of the $350 million SR-24 widening (Loop 202 to Ironwood Drive), ADOT ran a noise study projecting traffic through 2050 and identified where sound walls would be effective and eligible for federal funding.

The catch: ADOT set March 2026 as the project's official "date of public knowledge."

• Residential developments permitted before March 2026 can qualify for federally funded noise mitigation.
• Developments permitted after that date generally don't. Mitigation then falls to the developer or builder, if it happens at all.

What's Planned

• Sound walls up to 16 feet high along the north side of SR-24, from east of Ellsworth Road to 222nd Street, pending residential eligibility and developer coordination.
• Construction is expected to start in early 2027 and last about 2.5 years.

Questions to Ask Before You Buy Near SR-24

1. When was this subdivision permitted? Before or after March 2026?
2. Is a sound wall planned behind this lot? Who is building it, ADOT or the builder?
3. What's the construction schedule near this home? Expect lane shifts and overnight work at times.
4. How far is the lot from the freeway? Backing to the corridor and sitting a few blocks away are very different.
5. Can I visit at rush hour? Hear the traffic noise for yourself.

The Upside

Living near SR-24 means faster access to Loop 202, Mesa, Gilbert and Chandler. The Ironwood Drive interchange is being converted to a partial diverging diamond to move traffic more efficiently. Once construction wraps (around 2029), proximity to SR-24 is likely to be a selling point.

FAQ

Who pays for sound walls on SR-24? ADOT can use federal funding for eligible developments permitted before March 2026. For newer developments, it's typically up to the developer.

When does the SR-24 widening start? Construction is anticipated in early 2027.

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The full guide covers the SR-24 extension, the North-South Corridor and what it all means for buyers and sellers: SR-24 Expansion & Your Commute.

The Kallhoff Team | RE/MAX Premier · 📞 480-275-9566

Based on ADOT information as of September 2026. Verify eligibility for a specific property with ADOT and the builder.

Florence Unified vs. J.O. Combs: Choosing a School District in San Tan Valley

 

Which school district is better in San Tan Valley, Florence Unified or J.O. Combs? Neither one is simply "better." They're different sizes with different feels, and the right choice depends on your kids, your neighborhood and which campuses you're zoned for. Here's a practical comparison.

At a Glance

	Florence Unified (FUSD)	J.O. Combs Unified
Size	The largest public district serving San Tan Valley	About 3,900 students
Local high schools	Poston Butte HS, San Tan Foothills HS	Combs High School
Typical areas	Skyline Village, Wildera, Bella Vista Farms, Johnson Ranch, San Tan Heights, Copper Basin	Neighborhoods along Combs Rd, Ironwood Dr, Schnepf Rd
Feel	More campuses and program choices	Smaller-district, "everyone knows you"

Florence Unified: More Campuses, More Options

High schools:

• Poston Butte High School (Broncos), 32375 N. Gantzel Rd. Opened in 2009 and known for its one-to-one laptop program in place of textbooks.
• San Tan Foothills High School (Sabercats), 1255 W. Silverdale Rd. Opened in 2009, with smaller class sizes.

Elementary and K–8 campuses in San Tan Valley: Anthem, Circle Cross Ranch, Copper Basin, Magma Ranch, San Tan Heights and Skyline Ranch, plus Walker Butte and San Tan Mountain for the middle grades.

J.O. Combs: The Small-District Choice

• Combs High School (Coyotes), 2505 E. Germann Rd. Strong arts, theater, orchestra and band programs.
• J.O. Combs Middle School
• Elementary: Jack W. Harmon, Ellsworth, Simonton, Ranch and Combs Traditional Academy

How to Decide

1. Look up the specific schools your address feeds into on azreportcards.azed.gov. Grades vary by campus within both districts.
2. Tour the high school, even if your kids are young. Future buyers will ask about it when you sell.
3. Compare charter options too. Many San Tan Valley families use charters such as American Leadership Academy and Legacy Traditional.
4. Verify by exact address. Don't rely on the listing or the builder brochure.

FAQ

What school district is San Tan Valley in? Mostly Florence Unified or J.O. Combs Unified, depending on the address.

What high schools serve San Tan Valley? Poston Butte and San Tan Foothills (Florence Unified) and Combs High School (J.O. Combs Unified).

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Comparing San Tan Valley with Queen Creek's A-rated districts? Read our complete schools guide for San Tan Valley and Queen Creek.

The Kallhoff Team | RE/MAX Premier · 📞 480-275-9566

Boundaries change. Verify with each district before purchase.

Retiring to San Tan Valley or Queen Creek? A Healthcare Checklist for 55+ Buyers

 

Is San Tan Valley a good place to retire if healthcare access matters to you? It's getting better every year, but where you buy matters. The hospital, the new specialist campuses and the future cardiac lab are all concentrated along one corridor. Here's what 55+ buyers should know before choosing a neighborhood.

The Key Facts

• One full-service hospital: Banner Ironwood Medical Center, 37000 N. Gantzel Rd. (Gantzel & Combs)
• Cardiac cath lab coming: part of a 32,000-sq-ft expansion targeted for December 2027
• New cardiology offices: Tri-City Cardiology (27 board-certified physicians) is the first tenant at Terraza Medical Village, about 2 miles north of Banner Ironwood
• Orthopedics nearby: OrthoArizona opens at Ironwood & Ranch in Q1 2027
• Cancer care: the closest major center for most residents is Banner MD Anderson at Banner Gateway in Gilbert

The Healthcare Corridor: Gantzel Rd and Ironwood Dr

Most of the new medical investment sits along the north–south Gantzel/Ironwood corridor between Ocotillo Rd and Combs Rd. If being close to care is a priority, start your search there:

• Encanterra (Queen Creek), a resort community with select 55+ Trilogy neighborhoods near the San Tan Mountains
• North San Tan Valley neighborhoods near Ocotillo & Ironwood
• East Queen Creek communities near Combs Rd

South San Tan Valley (the Hunt Highway corridor) is still reasonably close to Banner Ironwood, but it's farther from the Gilbert hospitals.

Your 55+ Healthcare Checklist

1. Drive to the ER at rush hour from any home you're serious about.
2. Check your Medicare Advantage or supplement network for Banner and Dignity affiliations.
3. Find your specialists first. Cardiology, orthopedics and oncology can decide which side of town makes sense.
4. Ask about single-level plans in communities near the corridor. Many new builders offer them.
5. Know your backup hospital. Dignity Health Mercy Gilbert and Banner Gateway are the next closest full-service options for most residents.

FAQ

Is there a hospital near Encanterra? Banner Ironwood Medical Center at Gantzel & Combs is the nearest full-service hospital to most Queen Creek and San Tan Valley 55+ communities.

When will Banner Ironwood have a cardiac cath lab? Completion of the expansion that includes it is targeted for December 2027.

---

The full guide covers larger hospitals, what's being built and drive-time tips: Hospitals & Healthcare in San Tan Valley and Queen Creek.

The Kallhoff Team | RE/MAX Premier · 📞 480-275-9566

General information only, not medical advice. In an emergency, call 911.

Successful Cities Invest in Technology, Energy

DAILY REAL ESTATE NEWS | THURSDAY, FEBRUARY 12, 2015

Smart investments in energy and innovation earn San Francisco, CA and Austin, TX the distiction of being named the Best-Performing Cities in America by the Milken Institute.

Dynamic Cities

6 Cities Where Incomes Are Rising Most

10 Best Bets for Housing in 2015

The Milken Insitute ranked 379 metro areas to help businesses, investors, government officials, and public-policy groups track and evaluate the performance of metros where they do business relative to the rest of the country. In the 2014 index, the they weighed nine factors, including  job, wage, and technology trends, with a heavy emphasis on growth in jobs creation and retention and the overall quality of new jobs.

What made these cities better equipped to weather the recent economic downturn was their ability to "offset high costs, an unfavorable tax structure, and a burdensome regulatory environment thanks to the clustering of talent and technology in an entrepreneurial ecosystem. The two main factors driving the success of these metros is technology and shale energy production.

"Technological advances in horizontal drilling and hydraulic fracturing are altering the energy landscape of the United States," according to the study. "Few experts had anticipated the magnitude of the boom in shale oil and gas exploration and production occurring since 2007. Energy investment has claimed the largest share of GDP since the early 1980s."

Study Highlights

• San Franciso, CA, earned the top spot among large metros, accounting for 45 percent of all jobs created over the five years ending in 2013.
• Five Texas metro areas were ranked in the top 10 list of best-performing cites, due to a combination of tech, energy strength, and a favorable business climate.
• California and Colorado each had four metro areas in the Top 25.
• Technology centers, made up of creative and scientific-based industries represented 13 of the Top 25.
• Seven metros made the Top 25 due to large gains in shale oil and gas exploration, associated infrastructure investment, and related activities.
• Fargo, ND, was No. 1 among small metros, benefitting from the shale oil boom and a diverse makeup of industries.
• West Palm Beach, FL, increased 93 spots and was the city with the overall biggest increase.

Sources: "America's Best Performing Cities Are Invested In Technology And Energy,"  Fast Company (Jan 15, 2015), and "Best Performing Cities," Milken Institute, (Janaury, 2015)

http://realtormag.realtor.org/daily-news/2015/02/12/successful-cities-invest-in-technology-energy

www.rebeccasellsaz.com

4 Things You Don’t Know About Outdoor Kitchens

DAILY REAL ESTATE NEWS | WEDNESDAY, JANUARY 21, 2015

Now that the 2015 International Builders’ Show has partnered with the Kitchen & Bath Industry Show, there are plenty of examples of beautiful cooking spaces, indoors and out. But what about the numbers? The results of a new survey released at the show attempt to define what consumers want when it comes to outdoor kitchens.

The Great Outdoors

Transform a Yard Into an Outdoor Sanctuary

Stylish Outdoor Living

Staging Outdoor Spaces

5 Tips for the Ultimate Backyard

Dave Brown, a partner with Chicago-based ad firm HY Connect, surveyed consumers who have or would like to have outdoor kitchens in their homes. The study, which surveyed households making $150,000 or more in household income across the United States, was conducted in December 2014. He discussed the results of the survey at the first day of IBS/KBIS in Las Vegas on Tuesday.

A Growing Market
While only 4 percent of affluent households have outdoor kitchens today, 13.6 percent say they are planning on adding one in 2014. Brown says that the largest age group who don’t have these amenities but are hoping to incorporate them in their living space is between the ages of 45 and 54. He also adds that those who are interested in this particular amenity are more likely to have children in the home, noting, “These are active households. They’re doing stuff.”

The Difference Between Indoor and Outdoor
The needs and wants associated with an indoor kitchen don’t necessarily translate to that of an outdoor cooking space. “Outdoors is all about socializing… it is all about having fun and a great experience,” Brown says, noting that adequate seating space is one place where home owners tend to underestimate. Also, he adds that “storage in the indoor kitchen is huge [but] in terms of the outdoors, food prep becomes more important.”

Unexpected Features Top Favorites Lists
It may not seem that surprising that survey respondents consistently rated the outdoor kitchen their favorite room in the whole house. However, their favorite features weren’t the traditional items seen in most outdoor entertainment areas. The No. 1 item that current owners of outdoor kitchen regretted leaving out was a pizza oven. “What’s loved the most is what’s unique. Fountains, fireplaces, pools,” Brown says. He adds that his backyard pizza oven serves as a gathering place for guests to participate in the food prep process. “It’s what I call ‘kitchen karaoke.’”

Integration Is Key
Brown says that many home owners start small with the intention of adding on features later. But he notes that the most successful, best-loved outdoor kitchens tend to occur when the design process is holistic: “It feels like an entire outdoor room where I can have an event and not just a bunch of stuff stuck outside.”

—Meg White, REALTOR® Magazine

www.rebeccasellsAZ.com

http://realtormag.realtor.org/daily-news/2015/01/21/4-things-you-don-t-know-about-outdoor-kitchens

Pending Home Sales Up, But Credit an Issue

DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 28, 2014

Pending home sales inched up slightly in September, and for the first time in 11 months, they were above year-ago levels, according to the National Association of REALTORS®' Pending Home Sales Index. However, tight credit conditions continue to be a barrier for many borrowers, NAR notes.

The Pending Home Sales Index rose 0.3 percent in September to 105. That's 1 percent above the September 2013 reading and the second-highest level since that time.

Opening the Credit Box

• QRM Rule Opens More Doors for Consumers
• Fannie, Freddie to Loosen Up on Lending
• Learn More About the Qualified Mortgage Rule

But sales are being held back because of potential buyers who are still unable to qualify for a mortgage. About 15 percent of REALTORS® in September indicated that the main reason for not closing on a deal was because their clients could not obtain financing.

Lawrence Yun, NAR's chief economist, says the final qualified residential mortgage rule will likely improve access to credit next year.

"The rule provides clarity for lenders and is a win for creditworthy consumers by ensuring they continue to have access to safe and affordable loan products without overly burdensome down payment requirements," Yun says.

Also, low mortgage rates, moderating price growth, and sustained inventory levels should help more buyers enter the market, Yun says.

"Housing supply for existing homes was up in September by 6 percent from a year ago, which is preventing prices from rising at the accelerated clip seen earlier this year," Yun notes.

In September, the Pending Home Sales Index rose in the South and Northeast but decreased in the Midwest and West.

Pending home sales were up by the highest percentage in the South — 1.4 percent month-over-month to a reading of 118.5. That was 1.7 percent above September 2013. Pending home sales also rose in the Northeast by 1.2 percent to 87.5 and are 2.9 percent above year-ago levels.

Meanwhile, pending home sales fell 1.2 percent in the Midwest to 101.2 in September and are now 4 percent below year-over-year levels for that region. Pending sales also fell in the West, dropping 0.8 percent last month to 101.3 but are still 3.6 percent above a year ago.

Source: National Association of REALTORS®

http://realtormag.realtor.org/daily-news/2014/10/28/pending-home-sales-up-credit-issue

www.RebeccaSellsAZ.com

New-Home Sales Inch to 6-Year High

DAILY REAL ESTATE NEWS | MONDAY, OCTOBER 27, 2014

For the third consecutive month, sales of newly built single-family homes edged up, “demonstrating steady growth in the housing market,” says Kevin Kelly, chairman of the National Association of Home Builders. However, housing analysts caution that the sector remains fragile.

More on the fall market:September Marked 2014 High in Home Sales

New-home sales inched up slightly by 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units—the highest level since June 2008, according to new data from the U.S. Department of Housing and Urban Development and U.S. Census Bureau. The median price of new homes in September was $259,000, a 4 percent drop year-over-year.

"We expect the housing market recovery to remain relatively gradual over the coming months," Gennadiy Goldberg, an economist at TD Securities in New York, told Reuters.

In September, the inventory of new homes rose to 207,000—a 5.3-month supply at the current sales pace. Most economists consider 6 months a healthy balance between supply and demand. The slow-growing inventory of new homes points to builders gaining confidence in the market, says NAHB Chief Economist David Crowe.

Regionally, new-home sales rose the most in the Midwest, posting a 12.3 percent gain month-over-month, followed by a 2 percent rise in the South. Sales stayed flat in the Northeast and fell 8.9 percent in the West.

The government revised August’s reported new-home sales figures, reflecting the fact that sales actually posted a sharp decline last month, as opposed to what had been originally reported. August’s sales numbers were revised down to 466,000 units from the originally reported 504,000 units.

Source: National Association of Home Builders and “U.S. Home Sales at Six-Year High; Recovery Still Fragile,” Reuters (Oct. 24, 2014)

http://realtormag.realtor.org/daily-news/2014/10/27/new-home-sales-inch-6-year-high

www.RebeccaSellsAZ.com

Major Incentives for Home Buyers This Fall

DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 14, 2014

Homebuilders are throwing in some extras to lure home buyers back this fall. For example, 10 homebuilders in a new suburban Phoenix community called Bridges at Gilbert are offering swimming pools, built-in barbecues, and subsidized mortgages.

Unique Incentives

• Fair Swap: A Home for an iPhone 6?
• Seller Throws in Unusual Incentive to Buyers
• Home Owner Offers Bentley to Buyer Agent

Joseph Beben, a home buyer in the Phoenix area, says he chose to have a house built by Woodside Homes, which agreed to cover up to $10,000 of his closing costs as well as the price of a swimming pool. Beben will pay $332,000 for a 3,000-square-foot house. 

"Builders in volatile housing markets, such as Phoenix, Sacramento, Las Vegas, and Orlando, are sweetening offers as sales slow," Bloomberg Business reports.

The large increases in home prices last year have discouraged some buyers. The number of new-home communities in Phoenix rose by a third in the past year to 457, but sales per community dropped 45 percent last month from a year prior, according to Jim Belfiore, president of Belfiore Real Estate Consulting.

Builders in Nevada also saw a big drop in sales this year. In Las Vegas, new-home sales surged 32 percent in 2013 — but in the first eight months of this year, they have fallen 26 percent from the previous year, says Dennis Smith, president of Home Builders Research, a Las Vegas-based consulting company. A similar trend is taking hold in Sacramento, Calif., where new-home sales plunged 16 percent last month year-over-year.

Builders are beginning to discount homes and look for ways to boost sales. Orlando builders, for example, reportedly are advertising discounts and appliance packages, as well as offering to cover closing costs, after new-home sales dropped 19 percent year-over-year in June.

Buyers are enjoying being the drivers at the moment in some of these markets. Bob Berg, a retiree from Chicago, was looking for homes in the Phoenix area. "A couple of builders said to me, 'What will it take for you to buy this home?'" Berg says. "That's kind of drastic when they say something like that. It tells me they want to move that home."

Source: "Homebuilders Offer Goodies as Sales Slow," Bloomberg BusinessWeek  (Oct. 9, 2014)

http://realtormag.realtor.org/daily-news/2014/10/14/major-incentives-for-home-buyers-fall

www.RebeccaSellsAZ.com

10 Best College Towns for House Flippers

DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 14, 2014

College towns have long been known as havens for investors looking to cash in on rentals or turn a profit on a home flip. RealtyTrac recently ranked the best college towns for flippers in 2014.

Want to Flip? Know This

• Be Cautious With Flips
• If You Want to Flip, Do It Now
• House Flippers Get More Bang for Their Buck

RealtyTrac analyzed public four-year universities that had enrollment of 20,000 or more as of 2012 and also were located in counties that had unemployment rates below the national average of 6.2 percent. The top 10 college towns for flipping were ranked based on the average gross return on investment (ROI) percentage for single-family home flips there during the first eight months of 2014. (Note: Some college towns did not have sufficient sales or flipping data to be included in the rankings).

Here are the college towns that topped RealtyTrac's 2014 list:

1. University of Minnesota (Minneapolis)
   Average gross flip profit: $105,292
   ROI: 65.59%
2. University of Washington (Seattle)
   Average gross flip profit: $168,247
   ROI: 61.88%
3. University of Nebraska (Lincoln, Neb.)
   Average gross flip profit: $53,763
   ROI: 55.01%
4. San Francisco State (San Francisco)
   Average gross flip profit: $402,790
   ROI: 54.16%
5. Thomas Edison State College (Trenton, N.J.)
   Average gross flip profit: $40,497
   ROI: 48.06%
6. University of Florida (Gainesville, Fla.)
   Average gross flip profit: $41,235
   ROI: 47.95%
7. University of Colorado (Denver)
   Average gross flip profit: $103,658
   ROI: 45.86%
8. University of Cincinnati
   Average gross flip profit: $45,929
   ROI: 44.88%
9. University of Akron (Akron, Ohio)
   Average gross flip profit: $35,909
   ROI: 42.95%
10. North Carolina State (Raleigh, N.C.)
    Average gross flip profit: $61,028
    ROI: 38.52%

Source: RealtyTrac

http://realtormag.realtor.org/daily-news/2014/10/14/10-best-college-towns-for-house-flippers

www.RebeccaSellsAZ.com

More Singles Than Ever: How It Affects Real Estate

DAILY REAL ESTATE NEWS | THURSDAY, SEPTEMBER 11, 2014

In the age of "selfies," the majority of adults are sticking to themselves. Single Americans now make up more than half of the adult population, the first time the number of singles has passed the 50 percent mark since the government began tracking such data in 1976.

A Force to Be Reckoned With

• Bella DePaulo: Singles Really Want...
• Singles: Why We're Buying Now
• 7 Best Cities for Wealthy Singles

About 124.6 million Americans indicated they were single in August; 50.2 percent were age 16 or older, according to new data from the Bureau of Labor Statistics. The percentage has been gradually trending upward since the beginning of 2013.

The rise of single households has "implications for our economy, society, and politics," writes Edward Yardeni, president of Yardeni Research Inc., in a report called "Selfies." He called the proportion of singles today "remarkable."

What are the implications for real estate? Singles, particularly younger professionals, are more likely to rent than own a home. They are less likely to have children, and the growth in single households likely will exaggerate income inequality, Yardeni notes.

"While they have less household earnings than married people, they also have fewer expenses, especially if there are no children in their households," Yardeni writes in his report.

The number of never-married adult Americans has been on the rise, too, increasing to 30.4 percent from 22.1 percent in 1976. The number of divorced, separated, or widowed adults also has risen up to 19.8 percent from 15.3 percent.

Some real estate analysts are expecting an increase in singles heading into home ownership in the coming years. For example, single women make up the second largest segment of home purchases, with one out of every five homes purchased by a single woman, according to National Association of REALTORS® data. More than 25 million single women over the age of 45 — who may be either divorced, widowed, or never married — are also making up a growing number of home owners, real estate professionals report.

Some builders are even catering to this growing segment, reportedly adding two master bedrooms to appeal to the 40 percent of single women who choose to have non-romantic roommates, according to AARP surveys. 

Source: “Is Everybody Single? More Than Half the U.S. Now, Up From 37% in ’76,” Bloomberg News (Sept. 8, 2014) and REALTOR® Magazine Daily News

http://realtormag.realtor.org/daily-news/2014/09/11/more-singles-ever-how-it-affects-real-estate

www.RebeccaSellsAZ.com

Sluggish Housing Market Blamed for Drop in Title Insurance Volume

DAILY REAL ESTATE NEWS | WEDNESDAY, SEPTEMBER 03, 2014

Title insurance premium volume has fallen 16.6 percent during the second quarter of this year compared to last year, according to the American Land Title Association.

“A lackluster spring homebuying season that was weaker than anticipated, coupled with a substantial decline in refinance activity, resulted in the drop in title insurance premium volume,” says Michelle Korsmo, ALTA’s CEO. “Despite the lull in the housing market, the title insurance industry remains in a strong financial position posting more than $90 million in net income this quarter. … For more than a century, title insurance companies have protected the interests of home buyers through a process that has given Americans a sense of security in what is almost always their most significant investment – their homes.”

Capitalizing on Titles

Title Defects Can Haunt Transactions

Survey Tracks Where Closing Costs Are Highest, Lowest

During the second quarter of 2014, the title insurance industry generated $2.7 billion in title insurance premiums, compared with $3.3 billion during the second quarter of 2013, according to ALTA.

The title insurance companies that have the largest market share in the industry are Fidelity Family (34%); First American Family (27%), and Old Republic Family (14%).

Meanwhile, the following states generated the most title insurance premiums in the second quarter of 2014:

• Texas: $430 million, down 1.5% from the second quarter of 2013
• California: $354 million, down 21.5%
• Florida: $264 million, down 10%
• New York: $225 million, down 0.6%
• Illinois: $101 million, up 2.9%

Source: American Land Title Association

http://realtormag.realtor.org/daily-news/2014/09/03/sluggish-housing-market-blamed-for-drop-in-title-insurance-volume

www.RebeccaSellsAZ.com

New-Home Sales Post Biggest Drop in a Year

DAILY REAL ESTATE NEWS | FRIDAY, JULY 25, 2014

Sales of newly built, single-family homes dropped 8.1 percent in June, the largest decline since July 2013, the Commerce Department reported Thursday. New-home sales were at a seasonally adjusted annual rate of 406,000 units in June. May’s sales pace was also revised from a previously reported 504,000 units to 442,000 units.

"The numbers are a little disappointing, but May was unusually high and some pull back isn't completely unexpected," says Kevin Kelly, chairman of the National Association of Home Builders. "Our surveys show that builders are confident about the future and we are still seeing a gradual upward trajectory in housing demand."

Recovery or Not?

• 3 Challenges Still Facing the Housing Market
• Why the Second Half of 2014 Will Be Better Than the First
• New-Home Construction to Be Low for a While

Across the country, new-home sales were down, falling by the largest amount – 20 percent – in the Northeast. New-home sales were also down by 9.5 percent in the South; by 8.2 percent in the Midwest; and by 1.9 percent in the West.

Inventories of new homes for-sale rose 3.1 percent in June to the highest number since October 2010, reaching a 5.8-month supply at the current pace.

Builders are still optimistic that the new-home sector will see improvement later this year.

"With continued job creation and economic growth, we are cautiously optimistic about the home building industry in the second half of 2014," says David Crowe, NAHB chief economist. "The increase in existing home sales also bodes well for builders, as it is a signal that trade-up buyers can move up to new construction."

The National Association of REALTORS® reported this week that existing-home sales gained momentum in June, reaching an annual pace of 5 million sales for the first time since October 2013.

Source: National Association of Home Builders and “U.S. New Home Sales Post Biggest Drop in Almost a Year,” Reuters (July 24, 2014)

http://realtormag.realtor.org/daily-news/2014/07/25/new-home-sales-post-biggest-drop-in-year

www.RebeccaSellsAZ.com

The 7 Most Energy-Efficient States

DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 23, 2014

Massachusetts overtook California this year as the top state for energy efficiency, according to the American Council for an Energy-Efficient Economy’s state scorecard. California had been the leader for the past four years, but Massachusetts’ “Green Communities Act,” which has powered up investments in energy efficiency throughout the state since 2008, helped push the state to the No. 1 spot this year.

Energetic Improvements

• More Builders Say Energy Efficiency Is Priority
• Most Popular Features of Green Remodels
• Energy-Efficient Mortgages Gain Popularity

“The legislation requires electric utilities in Massachusetts to purchase all available energy-efficiency improvements that cost less than it does to generate power,” Thomas Bourgeois, the co-director of the U.S. Department of Energy Northeast Clean Energy Application Center, told Forbes. “It has been a major boon to energy efficiency in Massachusetts over the past three years.”

Here’s how the states stacked up for energy efficiency, according to ACEEE’s scorecard:

1. Massachusetts
2. California
3. New York
4. Oregon
5. (tie) Vermont
5. (tie) Washington
5. (tie) Rhode Island

See the full top 10 rankings at Forbes.com.

Source: “The Most Energy-Efficient States in America,” Forbes (July 2014)

http://realtormag.realtor.org/daily-news/2014/07/23/7-most-energy-efficient-states

www.rebeccasellsaz.com

3 Challenges Still Facing the Housing Market

DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 23, 2014

Existing-home sales gained momentum in June, reaching an annual pace of 5 million sales for the first time since October 2013, according to the National Association of REALTORS®’ latest housing report. Rising inventories also are pushing the overall supply of homes for sale toward a more balanced market, with unsold inventories 6.5 percent higher than a year ago, NAR notes.

“Inventories are at their highest level in over a year and price gains have slowed to much more welcoming levels in many parts of the country,” says Lawrence Yun, NAR’s chief economist. “This bodes well for rising home sales in the upcoming months as consumers are provided with more choices.”

Growing Optimism?

• Why the Second Half of 2014 Will Be Better Than the First
• Spring Confidence to Heat Summer Market
• 10 Markets Where Inventories Are Rising Fast

Still, the market is facing several headwinds that continue to subdue a more robust recovery. NAR noted three in its most recent housing report:

1. Sluggish new-home construction: While overall housing inventories showed improvement in June, inventory problems continue to weigh on the market and could become more problematic if new-home construction doesn’t increase in more markets, NAR notes. “New-home construction needs to rise by at least 50 percent for a complete return to a balanced market because supply shortages — particularly in the West — are still putting upward pressure on prices,” Yun notes.

2. Stagnant wage growth: Yun also noted that stagnant wage growth is holding back what should be a stronger pace of sales. “Hiring has been a bright spot in the economy this year, adding an average of 230,000 jobs each month,” Yun notes. “However, the lack of wage increases is leaving a large pool of potential home buyers on the sidelines who otherwise would be taking advantage of low interest rates. Income growth below price appreciation will hurt affordability.”

3. Dwindling first-time home buyers: The percentage of first-time buyers continues to be low by historical standards. First-time home buyers made up 28 percent of the market in June, down from a typical 40 percent of the market historically.

NAR President Steve Brown says that some prospective buyers who have above average credit scores but low down payments are being deterred from home ownership by the high cost of FHA mortgage insurance.

“Access to affordable credit continues to hamper young, prospective first-time buyers,” says Brown. “NAR recommends that the FHA reduce high annual mortgage insurance premiums for all qualified homebuyers and eliminate the insurance requirement for the life of the loan. The FHA’s HAWK program is a good start, but it should offer further reductions for participating home buyers.”

Housing Snapshot for June

Here are some more housing indicators from NAR’s most recent report.

Home prices: Median existing-home prices for all housing types in June was $223,300, 4.3 percent higher than year-ago levels. This was the 28th consecutive month for year-over-year price gains.

Distressed homes: Foreclosures and short sales accounted for 11 percent of June sales, a 15 percent drop from year-ago levels. On average, foreclosures sold for a discount of 20 percent below market value, while short sales were discounted 11 percent in June.    

Time on market: The median time on market for all homes was 44 days in June, up from 37 days on market in June 2013. Forty-two percent of homes sold in June were on the market for less than a month.

All-cash sales: All-cash sales made up 32 percent of transactions in June, up slightly from 31 percent in June 2013. Individual investors, who account for the majority of cash sales, purchased 16 percent of homes in June, down from 17 percent in June 2013.

Regional Snapshot

Take a closer look at how existing-home sales fared in your area.

• Northeast: Existing-home sales increased 3.2 percent, but remain 3 percent below year-ago levels. Median price: $269,800, an 0.1 percent decrease from June 2013.
• Midwest: Existing-home sales surged 6.2 percent, but remain 2.4 percent below June 2013. Median price: $177,900, up 4.6 percent from a year ago.
• South: Existing-home sales rose slightly by 0.5 percent, up 1 percent from June 2013. Median price: $192,600, up 3.4 percent from a year ago.
• West: Existing-home sales increased 2.7 percent, but remain 7.3 percent below a year ago. Median price: $301,000, up 7.2 percent from a year ago.

Source: National Association of REALTORS®

http://realtormag.realtor.org/daily-news/2014/07/23/3-challenges-still-facing-housing-market

www.rebeccasellsaz.com

What Consumers Want Smart Homes to Do

DAILY REAL ESTATE NEWS | TUESDAY, JULY 22, 2014

When it comes to smart homes, consumers are more interested in their security features than the gadgets that control the homes' appliances. New research by Icontrol Networks, a home technology company, shows that 90 percent of 932 respondents recently surveyed say that security is one of the most important reasons for using a smart-home system. In fact, 67 percent rank it the No.1 reason, and the majority of consumers say security is a must-have in any home automation, according to Icontrol's 2014 State of the Smart Home Report.

Fire and carbon monoxide alarms, as well as gas leak alarms, were listed as top security features, according to the survey.

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"For now, safety and security are driving initial mass market adoption," says Jim Johnson, executive vice president of Icontrol Networks. "But the convenience associated with a connected home will likely play a greater role as consumers realize how much easier automation makes their lives."

Seventy-eight percent of respondents also ranked energy management as one of the top features that matter most to them in a smart home. HVAC heating and cooling management was cited as the most important feature in helping to reduce utility bills. Nearly 43 percent of respondents say they'd be interested in replacing their thermostat with a "smart thermostat," one that automatically adjusts when the home is occupied.

Would home owners be willing to pay for the extra costs in making their homes smarter and more connected? The survey found that 51 percent of respondents would be willing to pay up to $500 for a fully equipped smart home; 32 percent say they'd pay $500 to $3,000.

Source: “What Consumers Want in Home Automation,” Builder (July 17, 2014)

http://realtormag.realtor.org/daily-news/2014/07/22/what-consumers-want-smart-homes-do

www.rebeccasellsaz.com

10 Cities Where Wages Stretch the Farthest

DAILY REAL ESTATE NEWS | THURSDAY, JULY 17, 2014

The cost of living can have a big impact on how your income actually stretches. Therefore, adjusting wages for living costs can provide a better glimpse at how much people actually make, suggests a study by Jose Lobo of Arizona State University. Lobo crunched data from the U.S. Bureau of Economic Analysis to find the "real average wage per job," taking into account cost of living and real per-capita personal incomes.

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"Knowledge hubs and energy centers — those that have both very high wages and generally fair high costs of living, especially along the coasts — dominate the list," The Atlantic CityLab reports. Also, energy metros rose to the top due to a natural gas boom that is rapidly increasing wages in some areas of the country, while cost of living has remained lower than their big-city counterparts, the study notes.

Workers in higher-cost places still tend to do better than most, even when taking into account the higher costs for housing and other expenses, the study suggests. "Their higher wages more than compensate," the article notes. "This takes some of the wind out of the sails of the arguments that people are better off moving from higher-cost to lower-cost places. The underlying factors that improve productivity and increase wages in the first place help workers do better in these high-cost metros."

According to Lobo's study, the following are the metros with the highest real average wages:

1. San Jose-Sunnyvale-Santa Clara, Calif.: $75,288
2. Bridgeport-Stamford-Norwalk, Conn.: $64,321
3. San Francisco-Oakland-Hayward, Calif.: $60,562
4. California-Lexington Park, Md.: $59,130
5. Durham-Chapel Hill, N.C.: $58,166
6. Midland, Texas: $58,153
7. Houston-The Woodlands-Sugar Land, Texas: $57,461
8. Midland, Mich.: $57,328
9. Trenton, N.J.: $55,317
10. Boston-Cambridge-Newton, Mass.-N.H.: $55,306

Source: “Where Americans Really Earn the Most From Their Paychecks,” The Atlantic CityLab (July 14, 2014)

http://realtormag.realtor.org/daily-news/2014/07/17/10-cities-where-wages-stretch-farthest

www.RebeccaSellsAZ.com