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.

Why Buyers Need to Buy That New Home Now

DAILY REAL ESTATE NEWS | MONDAY, NOVEMBER 09, 2015

Your client has decided on new-home construction, but they're dragging their feet. Need to give them extra motivation to get that contract signed this fall or winter?

“Fall and winter are a great time to start working with a builder and do much of the upfront planning and legwork that goes into a new-construction home,” says Brian Brunhofer, president of Meritus Homes. “Plus, there are some definite advantages to beginning that process before the end of the year that buyers might not be aware of.”

Read more: Build or Buy?

BUILDER online recently highlighted some of those advantages, including:

1. Low interest rates: The 30-year fixed-rate mortgage is still under a 4 percent average, according to Freddie Mac. But most economists are predicting that interest rates will soon be on the rise, and when rates do rise that will deflate buyers’ purchasing power.

2. Buffering in more time: Many buyers fail to take into account the length of the permitting and approval process, which has to take place before the actual construction. “The reality is that after a buyer signs a contract with us, it takes anywhere from 60 to 90 days to get architectural plans submitted and permits approved before we actually start construction,” Brunhofer says. “Buyers who begin that process in the fall or winter can relax knowing they have plenty of time to get all those details taken care of and be 100 percent ready to roll when the early spring construction season starts. And if we have a mild enough winter, we might be able to get a jump on construction for them even earlier in the year.”

3. Taking advantage of the financial benefits: Before the end of the calendar year, builders will have secured their 2016 contract prices for labor and building materials. As such, they’ll adjust their home prices to reflect any increased costs. Buyers who decide to sign a contract with a builder this fall rather than waiting until next spring may see some cost savings by taking advantage of 2015 pricing. 

4. Timing the market right: Many families prefer to be able to move into their new-home prior to the beginning of a school year. Buyers who work with builders in the fall and winter will likely be ready to move into their new home by next summer. “Buyers should expect anywhere from five to six months of actual construction time,” Brunhofer says. “That means if we get all the upfront approvals and permitting taken care of during the fall and early winter, we’ll start work the minute the ground thaws and we’ll be wrapped up in time for a summer move-in date.” Also, for buyers with an existing home to sell, they will be able to sell their current home then during the spring time, which is traditionally a busier housing market.

Source: “Give Customers Four Reasons to Buy Now,” BUILDER (Sept. 30, 2015)

www.KallhoffTeam.com

http://realtormag.realtor.org/daily-news/2015/11/09/why-buyers-need-buy-new-home-now

Slight Drop in Rates Pushes Loan Demand Up

DAILY REAL ESTATE NEWS | WEDNESDAY, JUNE 24, 2015

A drop in mortgage rates last week helped to push mortgage applications higher, the Mortgage Bankers Association reports. Total applications – for both refinancing and home purchases – increased 1.6 percent week-to-week on a seasonally adjusted basis for the week ending June 19. Overall volume is nearly 11 percent higher than one year ago.

Broken out, refinance applications increased 2 percent last week and are up about 4 percent from a year ago, MBA reports. Meanwhile, applications for home purchases—viewed as a strong indicator of future home buying activity—rose 1 percent from the previous week, and are 18 percent higher than they were a year ago.

"The 18 percent [annual] gain in purchase application volume is yet another sign of growing strength in the housing market following this week's stronger numbers on new and existing home sales," says Michael Fratantoni, MBA’s chief economist.

Mortgage rates offered a slight relief to borrowers last week. MBA reports the average 30-year fixed-rate mortgage last week dropped to 4.19 percent; it was averaging 4.22 percent the week prior. But the drop was likely short-lived and there were signs of lenders moving rates higher Tuesday, CNBC reports.

Source: “Weekly Mortgage Applications Rise 1.6%,” CNBC.com (June 24, 2015)

http://realtormag.realtor.org/daily-news/2015/06/24/slight-drop-in-rates-pushes-loan-demand-up

www.KallhoffTeam.com

The Most Common Delays Toward Closing

DAILY REAL ESTATE NEWS | TUESDAY, JUNE 09, 2015

The majority of contracts – 64 percent -- are settled on time with no delays to closing, but some REALTORS® acknowledge facing delays or even having contracts terminated for numerous reasons, according to the latest REALTORS® Confidence Index Survey, a survey of more than 1,500 REALTORS®. Twenty-six percent of REALTORS® surveyed identified a delay to settlement, while 10 percent said they have even had a contract terminated prior to closing.

Read more: Don't Get Thrown by Doc Overhaul

About 60 percent of REALTORS® reported some type of issue on their contract in April. For example, 12 percent of REALTORS® identified a financing issue; 8 percent had home inspection problems surface; and 7 percent had an appraisal issue. Three percent of REALTORS® also identified issues buying/selling distressed property; titling and deed issues; or with contingencies stated in the contract.

"It is surprising that in a 'tight' and 'difficult' credit environment, only 12 percent of contracts that were reported to have settled or terminated had financing issues," economists at the National Association of REALTORS® report. "One explanation may be that potential home buyers are deciding to sit on the sidelines for now, so these buyers were not captured in the data."

Source:"64 Percent of Contracts Are Settled on Time," National Association of REALTORS® Economists' Outlook Blog (June 8, 2015)

www.KallhoffTeam.com

http://realtormag.realtor.org/daily-news/2015/06/09/most-common-delays-toward-closing

Realtor.com®: 'Furious' Spring Market Plays

DAILY REAL ESTATE NEWS | TUESDAY, MAY 05, 2015

Single-family, condo, co-op, and townhome listing views on realtor.com® in April soared 40 percent compared to last year at this time. Jonathan Smoke, realtor.com®’s chief economist, calls it "furious" activity in the housing market this spring -- so it’s only fitting he was inspired by soundtracks from the movie "Furious 7" to go along with a rundown of his latest action-packed housing report.

Read more: More Buyers Than Usual Enter Spring Market

"The spring whistle blew and what's getting low?" writes Smoke at realtor.com® citing DJ Snake & Dillon Francis' "Get Low" from the soundtrack. "Inventory is moving fast among furious and growing demand." The median age of listings nationwide is now 10 fewer days than in April last year.

Realtor.com® traffic, searches, and listing views are up more than 35 percent over last year.

"With 3 million jobs created and close to 1.5 million new households formed in the past 12 months, many more people want a new home of their own, and they want it bad," Smoke says, channeling Sevyn Streeter's "How Bad Do You Want It (Oh Yeah)" on the Furious 7 soundtrack. "Their patience will be tested with tight supply – indeed, the No. 1 impediment of active shoppers in April was not being able to find a home that meets their needs."

Read Smoke's full commentary, including his music picks to match the market, at realtor.com®.

Source: "The Housing Market Is So Action-Packed, It Needs a Soundtrack Inspired by 'Furious 7,'" realtor.com® (May 1, 2015)

http://realtormag.realtor.org/daily-news/2015/05/05/realtorcom-furious-spring-market-plays

www.KallhoffTeam.com

Drought Drying Up Homebuilding out West?

DAILY REAL ESTATE NEWS | MONDAY, APRIL 20, 2015

The severe drought plaguing the West may stall new-home construction in the region, according to the chief economist of the National Association of Home Builders.

Housing starts in the West dropped for the third consecutive month, falling 19 percent in March and reaching its weakest level since May. The drop came at a time when other regions of the U.S. rebounded from a harsh winter.

Read more: What Calif.'s Drought Could Mean for Housing

The drought in the West may discourage companies from building or taking out permits for new construction, says David Crowe, NAHB’s chief economist. Some builders may be hesitant due to uncertainty surrounding local water policy and the ability to obtain water connections for new homes or apartment buildings, he told Bloomberg.

"Until it's clear what restrictions mean for new building, it's wise for builders to be hesitant," Crowe says. "This is more serious than just a temporary dry period. This is a new regime that says it's going to be harder to obtain additional water usage."

About 21 percent of the U.S. fell in the "moderate" to "extreme" drought categories at the end of March, with cases most severe reported in California and parts of Nevada and Wyoming, according to the National Climatic Data Center.

In California, Gov. Jerry Brown recently ordered the state's first mandatory water restrictions. The state is seeking to drop its use of water by 25 percent. The restrictions include a requirement that new homes feature water-efficient irrigation if the builder plans to use portable water for landscaping.

Source: "The Drought’s Latest Victim Out West Is the Housing Market," Bloomberg (April 16, 2015)

http://realtormag.realtor.org/daily-news/2015/04/20/drought-drying-up-homebuilding-out-west

www.KallhoffTeam.com

The Hottest Winter Home Markets

DAILY REAL ESTATE NEWS | TUESDAY, FEBRUARY 24, 2015

While most of the United States is currently under a deep freeze, real estate markets in many cities across the country are heating up, according to the recent Hotness Index compiled by realtor.com®.

Not surprisingly, warm locations continue to be hot spots for winter buyers. Miami, Las Vegas, Phoenix, Raleigh, and San Diego rank highest on the Hotness Index, and see busy Spring level home-buying activity earlier than other cities across the country.

Read more: Winter Is Best Time to Sell, Study Shows

To compile the Hotness Index rankings, economists fromrealtor.com® looked at 2014 monthly search volume on realtor.com®, adjusted for population, and combined climate data from the National Oceanic and Atmospheric Administration.

“The correlation between warmer metropolitan areas and more January searches makes sense, as it’s easier to get out and go house hunting in these cities,” said Jonathan Smoke, Chief Economist forrealtor.com®. “In these markets, looking for a home in November or January makes as much sense as August.

Winter home-buying activity isn't just booming in cities with balmy climates. Chicago is a surprisingly hot real estate market in the winter months, according to the Hottest Index. Despite Chicago's frigid temperatures, their prime buying season actually begins in January and home showings during snowstorms are the norm.

Some suggest that what's driving this push towards an earlier Spring buying season is the lack of inventory in many metropolitan areas.

“Prices are appreciating and homes are selling more quickly,” Smoke said. “These are the criteria that we use to define a healthy market. When inventory is growing as well, the hot market can keep its momentum, which benefits both sellers and buyers.”

Source: "What Do Winter Home Buyers Seek? Our Hotness Index Knows," realtor.com® (Feb. 19, 2015), "It’s February—and the Spring Home-Buying Market Is Almost Over," realtor.com® (Feb. 9, 2015)

http://realtormag.realtor.org/daily-news/2015/02/24/hottest-winter-home-markets-0

www.RebeccaSellsAZ.com

After Baby Boomers, What’s Next for Housing?

DAILY REAL ESTATE NEWS | THURSDAY, FEBRUARY 19, 2015

As baby boomers age, the decline of this mammoth generation will have a “dampening effect on household growth,” according to a new report by Harvard’s Joint Center for Housing Studies. However, this decline in growth will occur over several decades and may be offset by the millennial generation starting households of their own.

Read more about baby boomers: As Millennials Wait, Housing Bets on Boomers

But the big question is whether the housing left by baby boomers will be desirable to younger generations?

“Many homes vacated by aging seniors will not be in demand by tomorrow’s young adults, being in the wrong part of the country or otherwise unsuitable,” according to JCHS researchers. “Some will be simply too expensive. Some ‘affordable’ vacated homes in desirable locations will be torn down and replaced by larger and more energy efficient/amenity rich houses targeted to older buyers. Many houses will sit on the market for long periods of time before sellers are willing to recognize that they are overpriced. Some homes in declining communities will become abandoned.”

As such between now and 2030, new construction will be needed to meet the housing demand from the large number of those under the age of 30 that are currently in the pipeline – which will be even further escalated due to future immigration trends, researchers note.

Later this decade, the adult population growth is expect to turn sharply, according to recent Census Bureau population projections. Growth in the population age 20 and older is expected to see a 40 percent decline, gradually falling to about 1.5 million per year by 2050.

“Despite their improving life expectancies, the oldest baby boomers will soon turn 70, and begin to die off in ever-greater numbers,” notes JCHS’ report. “Today, there are about 2.6 million deaths every year, but this number will rise to over 4 million a year by 2050.”

Baby boomers have long had a thirst for real estate. As they aged, the share heading an independent household rose from 53.4 percent in 1990; 56.1 percent in 2000; and 58.5 percent in 2010.

On the other hand, younger age groups have been slower to enter the housing market. “Higher minority shares and delayed marriage have had a negative effect on headship rates, as has the Great Recession’s impact on employment and income,” JCHS researchers note.

So what does this mean for the future of housing?

“Projected declining adult population growth because of increasing deaths will have several effects on housing markets,” JCHS researchers predict. “But it will not have an immediate and proportional impact on household growth for a variety of reasons. First, many initial baby boomer deaths will occur to married couples, leaving the surviving spouse to continue to head a household. Many deaths will also occur to people who do not head a household, but rather live in a household headed by children or other relatives, or in institutional settings (assisted living or nursing facilities).”

The decline in household growth due to the aging baby boomers will occur over many decades. By then, aging millennials could cause “the changing age structure effect to be more positive, similar to what baby boomers exerted as they passed into middle age, offsetting the effects of declining adult population growth.”

Source: “What Will Happen to Housing When Baby Boomers Are Gone?” Harvard Joint Center for Housing Studies’ Housing Perspectives Blog (Feb. 17, 2015)

http://realtormag.realtor.org/daily-news/2015/02/19/after-baby-boomers-what-s-next-for-housing

www.RebeccaSellsAZ.com

Both Home Prices and Affordability on the Rise

DAILY REAL ESTATE NEWS | WEDNESDAY, FEBRUARY 18, 2015

The spring market will likely be a hotter one this year, as low interest rates and a healthier economy lure more home buyers to the marketplace. 

NAR's latest housing report:Tight Supplies Put Home Prices on the Move

“Interest rates below 4 percent, rising rents, and healthier local job markets are convincing more consumers to consider home ownership,” Chris Polychron, National Association of REALTORS® president, said in a recent news release showing fourth-quarter 2014 home prices moving up. 

An increase in the national family median income (to $65,782) mixed with low interest rates slightly improved affordability in the fourth quarter compared to the previous quarter, NAR reports. Affordability improved despite the national median single-family home price moving up to $208,700 in the fourth quarter, an increase of 6 percent year-over-year.

“Low interest rates helped preserve affordability last quarter, but it’ll take stronger income gains and more housing supply to help meet the pent-up demand for buying,” says Lawrence Yun, NAR’s chief economist.

To purchase a single-family home at the national median price, a buyer making a 5 percent down payment would need an income of $45,863. A 10 percent down payment would require an income of $43,449, and $38,621 would be needed for a 20 percent down payment.

The following were the five lowest-cost housing markets in the fourth quarter:

1. Youngstown-Warren-Boardman, Ohio: $78,000
2. Rockford, Ill.: $86,800
3. Toledo, Ohio: $87,100
4. Decatur, Ill.: $90,400
5. Cumberland, Md.: $90,500

Source: National Association of REALTORS®

http://realtormag.realtor.org/daily-news/2015/02/18/both-home-prices-and-affordability-rise

www.rebeccasellsaz.com

Improving Economy Helps Buoy Housing

DAILY REAL ESTATE NEWS | WEDNESDAY, JANUARY 21, 2015

Recent drops in oil prices and mortgage rates, along with positive tailwinds in the economy, are helping to jump-start the housing market in the new year, according to Freddie Mac’s newly released2015 U.S. Economic and Housing Market Outlook for January. Consumers are gaining confidence, which is expected to translate to higher home sales in the coming months. Some economists are skeptical on whether this latest jolt will stick around for the entire year, however.

NAR Forecast: Home Sales Only Going Up From Here

Freddie Mac economists note that mortgage rates continue to remain well below expectations, and they predict that mortgage rates will remain low at the beginning of 2015, staying around 4 percent for the first two quarters of the year at least. Last week, mortgage rates dipped to a 20-month low with the 30-year fixed-rate mortgage rate plunging to a 3.66 percent national average and the 15-year fixed-rate mortgage dropping to 2.98 percent. 

“We … expect these low mortgage rates to help the growing purchase market continue to expand and reach the highest levels we’ve seen since 2007,” the economists note in the forecast.

But rates likely will move up by the end of the year. Lawrence Yun, chief economist for the National Association of REALTORS®, says that the 30-year fixed-rate mortgage could average around 5 percent – or higher – by the end of this year.

"I would not be surprised if it is above 5 percent because when mortgage rates move or interest rates move, it is generally not in a slow creep," Yun told Bankrate.com.

That said, many potential home buyers remain sidelined due to high monthly rents that have prevented many from being able to save for a down payment on a home. Freddie Mac believes its new announcement, along with Fannie Mae, of offering mortgages with down payments as little as 3 percent, along with the Federal Housing Administration’s recent announcement that it will cut its premiums for new and refinancing borrowers by a half percentage point to help increase mortgage availability to first-time home buyers.

Economists also note in Freddie Mac’s report that home prices will likely rise by 3.5 percent this year. In addition, in the labor market, wages are expected to rise, helping to give consumers greater confidence. The National Federation’s Independent Business Index for December showed that small businesses expect to raise employee compensation to the highest level since 2006.

Still, economists worry that some of the positives in the housing market may be for a “limited time only,” influeneced by unexpected weaknesses in the global economy as well as what the Federal Reserve ultimately does with mortgage rates. While mortgage rates are expected to largely remain low for the next two quarters, many economists are expecting rates to move higher in the second half of the year.

"On balance there are a lot of positive opportunities in the U.S. economy at the start of the year, and the real question is whether or not households and businesses will be able to seize these opportunities and make the most of them,” says Frank Nothaft, Freddie Mac’s chief economist. “The reprieve in interest rates and drop in gas prices should help to spur economic growth. Until rates start to rise later in the year, housing markets should respond positively, and we anticipate increases in home sales and continued improvement in construction activity.”

Source: “January U.S. Economic & Housing Market Outlook,” Freddie Mac (January 2015) and “Housing Market’s ‘Interesting Times,’” Bankrate.com (Jan. 19, 2015)

http://realtormag.realtor.org/daily-news/2015/01/21/improving-economy-helps-buoy-housing

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

Survey: More Americans Ready to Sell

DAILY REAL ESTATE NEWS | TUESDAY, NOVEMBER 11, 2014

More Americans are growing optimistic about home-price appreciation and selling, according to Fannie Mae's October 2014 National Housing Survey of 1,000 American adults.

Home-price expectations rose significantly in the latest survey, largely reversing a dip over the past four months, says Doug Duncan, Fannie Mae's chief economist. Also, the share of consumers who say now is a good time to sell a home reached another survey high this month.

"The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand," Duncan says. "These results may help drive a healthier housing market in 2015."

Duncan says that the latest survey showed that consumers are growing more optimistic about the housing market "in the face of broader improvement in economic sentiment. The share of consumers who expect their personal finances to get better is near its highest level since the survey's inception, while those expecting their finances to get worse reached a survey low."

The following are some additional highlights from the Fannie Mae survey:

• Home buying and selling: The percentage of Americans who say now is a good time to buy a house dropped to 65 percent in October, but sellers were more optimistic. Those who say it's a good time to sell rose to 44 percent, marking a new all-time survey high.
• Home prices: The average home-price expectation for the next 12 months increased to 2.8 percent. Forty-four percent of respondents now say they expect home prices to rise within the next 12 months.
• Personal finances: Forty-five percent of respondents say they expect their personal financial situation to improve during the next 12 months, seven points higher than a year ago. The share expecting their financial situation to worsen, meanwhile, decreased to 10 percent last month.
• Rent expectations: The percentage of respondents who expect home rental prices to rise fell by six percentage points to 49 percent in October.

Source: Fannie Mae

http://realtormag.realtor.org/daily-news/2014/11/11/survey-more-americans-ready-sell

www.RebeccaSellsAz.com

Latest Rate Drops Lift Loan Demand

DAILY REAL ESTATE NEWS | WEDNESDAY, OCTOBER 08, 2014

Mortgage applications picked up last week, as a drop in interest rates gave a boost to both refinances and home purchases, the Mortgage Bankers Association reports in its weekly mortgage market survey, reflecting the week ending Oct. 3. Total mortgage application volume rose 3.8 percent on a seasonally adjusted basis compared to the previous week.

Broken out, applications for refinancings rose 5 percent compared to the previous week, while purchase applications, viewed as a gauge for future home sales, ticked up 2 percent.

"The purchase index reached its highest level since July," says Michael Fratantoni, the MBA’s chief economist. "The increase was led by a 3.7 percent increase in government purchase volume for the week."

Nevertheless, purchase applications remain down nearly 8 percent on an annual basis.

The MBA reported that the nationwide average on the 30-year fixed-rate mortgage fell from 4.33 percent the prior week to 4.30 percent. What’s more, as the stock market weakened on Tuesday, rates continued to post more drops, even in some cases nearing their lowest level of the year of 4 percent averages, CNBC reports.

Source: “Falling Rates Offer Home Buyers a Push,” CNBC (Oct. 8, 2014)

http://realtormag.realtor.org/daily-news/2014/10/08/latest-rate-drops-lift-loan-demand

www.RebeccaSellsAZ.com

30-Year Mortgage Sinks to 4.19% This Week

DAILY REAL ESTATE NEWS | FRIDAY, OCTOBER 03, 2014

Mortgage rates are falling, despite the cuts to the Federal Reserve's monthly bond purchases that were expected to send long-term rates higher.  The 30-year fixed-rate mortgage, the most popular choice among home buyers, averaged 4.19 percent this week, down from a 4.53 percent average at the start of the year, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 2:

• 30-year fixed-rate mortgages: averaged 4.19 percent, with an average 0.4 point, dropping from last week’s 4.20 percent average. Last year at this time, 30-year rates averaged 4.22 percent.
• 15-year fixed-rate mortgages: averaged 3.36 percent, with an average 0.5 point, holding the same average as last week. A year ago, 15-year rates averaged 3.29 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.06 percent, with an average 0.5 point, dropping from last week’s 3.08 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
• 1-year ARMs: averaged 2.42 percent, with an average 0.4 point, dropping from last week’s 2.43 percent average. A year ago, 1-year ARMs averaged 2.64 percent.

Source: Freddie Mac (Oct. 2, 2014)

http://realtormag.realtor.org/daily-news/2014/10/03/30-year-mortgage-sinks-419-week

www.RebeccaSellsAZ.com

Where Did Americans Move This Summer?

DAILY REAL ESTATE NEWS | THURSDAY, SEPTEMBER 18, 2014

Chicago, Washington, D.C., and Atlanta were the most popular moving destinations of this summer, according to United Van Lines' Summer Long-Distance Moving Trends Study. The moving company giant found that more Americans this summer left cities in the Sun Belt and West Coast to move to Midwestern and Northeastern cities.

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"Bucking recent trends, more people are moving to cities in the Northeast and Midwest," says Michael A. Stoll, economist, professor, and chair of the Department of Public Policy at the University of California, Los Angeles. "Popular metropolitan destinations driving city-to-city migration are those with a highly educated labor force and that have growing or mature business, financial, and insurance services. In addition, strong technology and health care industries are driving migration, sectors where recent job growth has been relatively robust in the broader economy."

The most popular metro areas for U.S. family moves during the peak moving season (based on United Van Lines' summer moving volume data) are:

1. Chicago
2. Washington, D.C.
3. Atlanta
4. Boston
5. Los Angeles
6. Dallas
7. Phoenix
8. New York City
9. Minneapolis
10. San Diego

What had people moving this summer? Seventy-one percent moved for a new job or corporate transfer; 13 percent moved because of retirement; and nearly 10 percent moved for health or other personal reasons, according to the United Van Lines survey. Dallas/Fort Worth, Atlanta, and Los Angeles were the most popular destinations for new jobs and corporate transfers, according to the survey.

Source: United Van Lines

http://realtormag.realtor.org/daily-news/2014/09/18/where-did-americans-move-summer

www.RebeccaSellsAZ.com

Wells Fargo: Fear Is Holding Many Buyers Back

DAILY REAL ESTATE NEWS | MONDAY, SEPTEMBER 15, 2014

Nearly two-thirds of Americans recently surveyed say they believed a stellar credit score was necessary to purchase a home, and more than 40 percent said they needed a down payment equal to or at least 20 percent of the purchase price to buy a home today, according to a new survey released by Wells Fargo.

Back in April, 56% of all potential home buyers said they were waiting to purchasebecause they feared being rejected by lenders.

However, the nation’s largest mortgage lender says many customers believe it’s much more difficult to get a mortgage than it really is.

Franklin Codel, Wells Fargo’s head of mortgage production, notes that the bank has lowered minimum credit scores for loans backed by the government in an effort to expand its eligible borrower pool.

“When we expanded FICO ranges, we saw not only an increase in applications but we also saw an increase in approval rates,” Codel says.

The lender acknowledges that mortgage credit has tightened since the financial crisis. But buyers’ fear of being turned down by a bank are needlessly keeping some of them out of the housing market, analysts note.

For example, in 2013, 19 percent of families said they did not apply for a consumer loan due to fear of rejection – which is above the 16.4 percent rate of families who actually are turned down for credit, according to a recent Federal Reserve survey.

Source: “Wells Fargo Finds Mortgage Myths Hamper Home Purchases,” Reuters (Sept. 15, 2014)

http://realtormag.realtor.org/daily-news/2014/09/15/wells-fargo-fear-holding-many-buyers-back

www.RebeccaSellsAZ.com 

What Makes a City Smart?

DAILY REAL ESTATE NEWS | MONDAY, SEPTEMBER 15, 2014

Everyone wants to live in a smart place. But the magic mix that draws people in is composed of a lot of different dynamics coming together all at once, according to the National Geographic Channel’s Smart Cities program.

“A city needs a heart and soul—typically the center, where people congregate for work and leisure. Smart cities are well-connected locally and internationally, have a sustainable lifestyle, and are places where people come first,” says Ian MacFarlane, consultant for the program.

National Geographic’s Traveler magazine recently compiled a list of the 50 top attributes that make for a smart city, naming cities that exemplify each factor along the way. Of course, the authors were thinking of travel destinations when they put the list together, but many items on their list matched attributes that make for a top place to live, too. Here are a few that resonated with the U.S. real estate industry:

• Support for local artisans. Example: Paducah, Ky. was recently named a UNESCO City of Crafts and Folk Art for its promotion of its fiber arts assets and its attempts to attract creative types to its LowerTown Arts District.
• Dreamers who foster innovation. Example: San Francisco is a city that has more than its fair share of tech start-ups and their eager investors.
• Urban farming. Example: Manhattan was ahead of the curve when Bell Book & Candle started growing greens in aeroponic rooftop gardens many years ago.
• High-tech data streams. Example: Chattanooga, Tenn. got the nickname of “Gig City” for its lightning-fast Internet.

The magazine included 47 other examples from around the world of how cities are demonstrating the types of intelligence that delight travelers and residents alike in the upcoming issue.

Source: “The 2014 Traveler 50: World's Smartest Cities,” National Geographic’s Traveler magazine (October 2014 issue).

http://realtormag.realtor.org/daily-news/2014/09/15/what-makes-city-smart

www.RebeccaSellsAZ.com