Latest news with #SherryRampy
Yahoo
24-05-2025
- Business
- Yahoo
Arizona real estate market cools as prices fall and inventory rises
The Brief A noticeable cooldown has home values in Arizona down 2.6% from last year. Realtors are saying high interest rates are keeping buyers on the sidelines. Despite the slowdown, Realtors say there is an opportunity for buyers and Phoenix rarely sees a buyers' market with a growing population. PHOENIX - After a red-hot real estate market heated up in the pandemic, many are noticing a cooldown. According to Zillow, the average home value in April is down 2.6% from last year. Local perspective It's no surprise to anyone that there has been a noticeable shift in the Arizona housing market as prices are starting to drop and inventory is starting to go up. But the main question: Is this something temporary or something more long-term? "This is an amazing home, built in 1925," said Realtor Sherry Rampy, showing off a colorful, 100-year-old home now on the market in the Ashland Place Historic District. "She also put in this amazing pool and spa!" But even historic gems aren't selling the same way they used to. "About a month ago, it really slowed down," said Sherry Rampy, associate broker with Broker's Hub Realty. Seller Erin O'Shea describes the past few weeks. What they're saying "Um… It's been interesting, that's for sure," O'Shea said. "We have seen the market shift," said Meredith Lane, a Realtor with The Gillette Group for 21 years. Lane says this time of year is typically the busiest, but not this year. "It's not as busy. The open houses are emptier. The showings are quieter, and sellers are sort of wondering what is going on," Lane said. With homes sitting longer on the market, prices are starting to cool. Still, buyers remain on the sidelines. Big picture view "I think they are sitting on the sidelines because interest rates are still high," Lane said. "I think they had wished and hoped that they would come down, and we don't have a crystal ball — so we don't know when that will happen. And then the economy news is all over the place." What's next remains anyone's guess, but both Realtors stress there's plenty of opportunity. "I think this is a blip," Rampy said. "We are very rarely in a buyer's market in Phoenix, in particular, being we have about 20,000 people net population growth every year, and we aren't building 20,000 new homes." "The ability to get a great house at a great time is now," Lane said.
Yahoo
17-05-2025
- Business
- Yahoo
20 Phoenix homes in historic neighborhoods open for touring. What to know
Twenty central Phoenix homes for sale in almost a dozen historic neighborhoods were to be open for touring May 18. The houses ranged in asking price from just under $400,000 to almost $2.5 million. The neighborhoods where the houses are located include Villa Verde, Coronado, North Encanto, Brentwood, Del Norte, Willo, La Hacienda, Ashland Place, Encanto Vista, Alvarado and Encanto-Palmcroft. 'Between concessions sellers are willing to pay and (interest) rates, it really is a great time to buy,' said Sherry Rampy of Brokers Hub Realty, who helped organize the tour and has homes on it. The following houses will be open from 10 a.m. to 1 p.m. on May 18: 1926 W. Holly St. 2545 N. 14th St. 1624 W. Thomas Road 1650 N. 10th St. 1905 E. Brill St. 1610 W. Wilshire Drive 536 W. Windsor Ave. 1547 W. Vernon Ave. 1330 E. Monte Vista Road 502 W. Windsor Ave. 345 W. Wilshire Drive 541 W. Palm Lane 521 W. Granada Road 514 W. Monte Vista Road 331 E. Verde Lane 39 E. Hoover Ave. 712 W. Vernon Ave. 1614 Palmcroft Drive SW 118 E. Palm Lane 2233 N. Ninth Ave. This article originally appeared on Arizona Republic: Homes in historic Phoenix neighborhoods open for touring May 18
Yahoo
17-05-2025
- Business
- Yahoo
20 Phoenix homes in historic neighborhoods open for touring. What to know
Twenty central Phoenix homes for sale in almost a dozen historic neighborhoods were to be open for touring May 18. The houses ranged in asking price from just under $400,000 to almost $2.5 million. The neighborhoods where the houses are located include Villa Verde, Coronado, North Encanto, Brentwood, Del Norte, Willo, La Hacienda, Ashland Place, Encanto Vista, Alvarado and Encanto-Palmcroft. 'Between concessions sellers are willing to pay and (interest) rates, it really is a great time to buy,' said Sherry Rampy of Brokers Hub Realty, who helped organize the tour and has homes on it. The following houses will be open from 10 a.m. to 1 p.m. on May 18: 1926 W. Holly St. 2545 N. 14th St. 1624 W. Thomas Road 1650 N. 10th St. 1905 E. Brill St. 1610 W. Wilshire Drive 536 W. Windsor Ave. 1547 W. Vernon Ave. 1330 E. Monte Vista Road 502 W. Windsor Ave. 345 W. Wilshire Drive 541 W. Palm Lane 521 W. Granada Road 514 W. Monte Vista Road 331 E. Verde Lane 39 E. Hoover Ave. 712 W. Vernon Ave. 1614 Palmcroft Drive SW 118 E. Palm Lane 2233 N. Ninth Ave. This article originally appeared on Arizona Republic: Homes in historic Phoenix neighborhoods open for touring May 18
