Tempe, AZ is ranked #7 on the list of up-and-coming tech cities where you can also afford a home

4/25/2017

Tempe, AZ is ranked #7 on the list of up-and-coming tech cities where you can also afford a home

Check this out, our very own Tempe, AZ has been ranked #7 on the list of up-and-coming tech cities where it is still affordable to own a home. In case you didn't know, technology/engineering is the United States' fastest-growing industry. This article ranked the 500 largest U.S. cities by these tech-savvy factors, and then eliminated those where housing affordability was out of whack, even for a decently paid engineer or developer.

Tempe AZ tech city with affordable housing | Troy Erickson Realtor

Tempe homes for sale | Troy Erickson Realtor

Percentage of employment in the tech industry
Share of technology/engineering jobs out of all job postings on indeed.com and Dice.com
Operations of major tech companies, including Google, Amazon, Apple, Microsoft, IBM, Facebook, and Cisco
Number of startups per capita
Number of tech companies per capita, including smaller ones that may not be household names
Tech crowdfunding projects and tech meet-ups per capita
Real estate and rental affordability (based on 28% or less of an average engineer's salary)

Click here to see all Tempe Arizona Homes For Sale

Tempe, AZ
Median home price: $320,000
Average salary of engineering jobs: $80,200

To read the entire article, click on this link: Silicon Valley Shake-Up: These Are the Next Top Tech Towns

Contact Troy Erickson, Realtor®, Diverse Solutions Realty

Licensed Residential Realtor® in Arizona for Chandler, Ahwatukee, Tempe, and Gilbert, Arizona Real Estate.

Check out our website for all Arizona Real Estate and Homes For Sale in subdivisions like Sun Lakes, Ocotillo, Lakewood, Mountain Park Ranch, Pepperwood, Circle G Ranches, and many others throughout the East Valley.

"Real Estate is more than just about a job for me. It is about making a difference in the lives of others.
I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

Troy Erickson Realtor has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.

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Priciest Zip Codes in Arizona

4/7/2017

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Priciest Zip Codes in Arizona

Want to know what some of the priciest zip codes in Arizona are for real estate? The site propertyshark.com recently conducted a list of the top 50 priciest zip codes in Arizona. They compiled the information based on the median price of all residential transactions closed in 2016 for single and two-family homes, condos and co-ops. Although the Phoenix housing market was one of the hardest hit during the housing bust, it is recovering nicely, and currently has the 2nd fastest appreciation rate among the 50 largest metro areas. Foreclosures have also bounced back from the housing crisis, and the Phoenix metro area currently has the 2nd lowest foreclosure rate among top metro areas. In addition, bankrate.com has recently ranked Phoenix Arizona as the 2nd best city for homeowners.

In regards to the priciest zip codes, it probably comes as no surprise that Scottsdale has five of the top 10 priciest zip codes in the state. However, the most expensive zip code in Arizona for home values was 85253, located in Paradise Valley. The median price of homes in 85253 was $1,040,000, and the only zip code in Arizona that surpassed seven figures. Paradise Valley is home to many current and former professional athletes (especially baseball players), as well as doctors, and rock legends such as Alice Cooper, and Rob Halford of Judas Priest.

Scottsdale and Paradise Valley are top cities with high priced zip codes, but there are several other cities with high priced zip codes within the East Valley of Arizona. Troy Erickson at Diverse Solution Realty provides real estate services for buyers, sellers, and investors within the East Valley. Here are the main cities we serve, and some additional information that you might consider interesting as it relates to the priciest zip codes in Arizona.

Priciest zip code in Tempe, Arizona:

Priciest zip codes in Tempe | Troy Erickson Realtor

Tempe only has one zip code that made the top 50 list. The 85284 zip code ranks 12th in the state, with a median sales price of $397,500. We have sold 8 homes in Tempe, Arizona over the last year, including one in the 85284 zip code.

Our main Diverse Solutions Realty office is headquartered in Tempe. We also have a personal rental property located in Tempe, and we do a lot of business in and around this city that is home to Arizona State University.

Here is a list of all homes for sale in the Tempe 85284 zip code

Priciest zip codes in Chandler, Arizona:

Priciest zip codes in Chandler AZ | Troy Erickson Realtor

Chandler has three zip codes that made the top 50 priciest in the state. The top ranked Chandler, Arizona zip code is 85249. It was ranked #21 overall, with a median sales price of $338,450. Chandler's 85286 ended up ranked #27 in the state, having a median sales price of $320,000. Chandler's 85248 zip code was ranked #43 overall, with a median sales price of $243,500. Our company has recently sold 7 homes in Chandler, including four within these top Chandler zip codes. We currently have two listings in the 85248 zip code.

My family has actually lived in Chandler for over 20 years, and we have seen the amazing growth that has occurred. Chandler is a great city to work, live, and play in, and I personally have helped many friends buy, sell, and invest in Chandler real estate.

Check out all the Chandler homes for sale by the highest priced zip codes 85249, 85286, and 85248

Priciest zip codes in Gilbert, Arizona:

Priciest zip codes in Gilbert | Troy Erickson Realtor

Gilbert ended up with four zip codes in the top 50 highest priced zip codes in Arizona. Coming in at #22 is Gilbert's priciest zip code, 85298, with a median sales price of $337,500. Gilbert's 85297 came in at #37 overall, with a median sales price of $290,000. The next highest priced zip code in Gilbert is 85295 (ranked #44), with a median sales price of $272,000. The final Gilbert zip code making the list at #46 is 85234, having a median sales price of $270,000. Diverse Solutions Realty has sold 6 homes in Gilbert over the last year, with all of them being in these highest priced zip codes.

Gilbert is literally right next to Chandler, and they have done a great job revitalizing their Downtown Heritage District over the last few years. The have great parks and recreation areas just like Chandler.

Here are all the homes for sale in these four priciest zip codes in Gilbert

Priciest zip codes in Mesa, Arizona:

The city of Mesa ended up with three zip codes making the top 50 priciest zip codes in Arizona. They are 85207 (#45), 85213 (#48), and 85212 (#50). Mesa's highest ranked zip code, 85207, had a median sales price of $270,000. Our office has sold 12 homes in Mesa throughout this last year.

Mesa is one of the oldest, as well as the third largest city in Arizona. It is home to two Spring Training baseball teams, and also has a light rail system that runs from Mesa, through Tempe, and into downtown Phoenix.

See all Mesa homes for sale in these three pricey zip codes

Priciest zip codes in Ahwatukee, Arizona:

Priciest zip codes in Ahwatukee | Troy Erickson Realtor

Ahwatukee, which is an urban village of Phoenix, has two of their zip codes listed in the top 50 priciest in Arizona. Zip code 85045 was listed at #18, with a median sales price of $342,000. Zip code 85048 was listed at #35, with a median sales price of $300,000. We have sold one home in zip code 85048 recently.

Ahwatukee has the well known Kyrene School District (which also serves parts of Chandler) for kids in K-8th grade. It is also known for the recreation opportunities in and around South Mountain Park. Our son actually attended high school in Ahwatukee.

Here are the priciest homes for sale in these two Ahwatukee zip codes

Priciest zip codes in Phoenix, Arizona:

Priciest zip codes in Phoenix | Troy Erickson Realtor

Including the two zip codes in Ahwatukee above, Phoenix ended up with the most zip codes in the top 50 zip codes in Arizona, with a total of 12. The top Phoenix zip code of 85018 was listed at #7, having a median sales price of $432,000. Our office has sold a total of 17 homes in Phoenix over this last year.

Phoenix is the capital of Arizona, as well as the most populous city in Arizona, with an estimated 1.53 million residents. Phoenix is also home to Sky Harbor International Airport, the Phoenix Suns, Arizona Diamondbacks, and many other attractions like the Phoenix Zoo and Desert Botanical Garden, to name a few.

Lots of homes to choose from in these Phoenix zip codes

Most expensive home sold in Arizona in 2016:

Most expensive home sold in Arizona | Troy Erickson Realtor

In addition to the priciest zip codes in Arizona, I would like to share with you the largest residential transaction in the state of Arizona last year. The top selling home of 2016 resided in Scottsdale, AZ within the 85255 zip code. This Mediterranean-style home has almost 26,000 square feet of livable space, featuring 9 bedrooms, 17 bathrooms, a 12-car garage, and sits on over 6.5 acres. Some additional amenities of this estate include an Olympic-sized pool, a tennis and basketball court, a two-story fitness center, and some of the most amazing city and mountain views available in Scottsdale. According to the study by propertyshark.com, the home sold for $13,700,000, and is the second highest selling home to ever be sold in Arizona.

Here are some additional photos of this record breaking home sale

Real estate in metro Phoenix has actually seen a 9 percent increase in luxury sales volume compared to 2015 levels, which is better than most parts of the country. The housing recovery has allowed some neighborhoods within the Phoenix metro area to see prices returning to their 2007 levels. Home values are continuing to increase, while interest rates and the inventory of homes for sale remains low.

You can check out the entire propertyshark.com article, including the entire list of the 50 priciest zip codes in Arizona by clicking on this link.

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People are moving to Arizona again, but who are they?

4/6/2017

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People are moving to Arizona again, but who are they?

Arizona has once again become a destination state where more people are moving into, than moving out of, according to United Van Lines' 40th Annual National Movers Study. This study is based on household moves handled by United, and ranks each state based off the inbound and outbound percentages of total moves in each state. United classifies states as having a "high inbound" rate if 55% or more of the moves are going into a state. They rate a state as having a "low inbound" rate if 45% or less of the moves are going into the state.

Arizona had a high inbound population migration percentage in 27 of the first 30 years this study was conducted (between 1978 and 2007). The other 3 years reported a balance between the number of inbound and outbound people migrating. Arizona never saw an outbound migration where more people were moving out of the state than were moving in during that time period.

Moving to Arizona | Troy Erickson Realtor

Moving to Chandler AZ | Troy Erickson Realtor

Then, the housing market crashed, unemployment reached double digits, and the economy crumbled. In the 7 years between 2008 and 2014, Arizona became a balanced state where just as many people were moving out of Arizona than were moving into Arizona. The year 2015 finally saw an economic recovery beginning to take place, and an increase in people migrating back to Arizona. Home values starting increasing, the unemployment rate dropped below double digits, and the economy in Arizona was picking up. In the most recent United Van Lines Movers Study, 2016 marked the second year in a row that Arizona had a high inbound migration population, meaning more people moved into Arizona than moved out. The study actually showed that 57% migrated into Arizona, while only 43% migrated out, ranking Arizona the 10th top inbound state for 2016.

What is interesting about this survey is that it also shows two trends as to why people are moving to Arizona, and other top migrating states. According to the survey, one of the trends is that more individuals and families are considering relocating to further their careers. The other trend is that more retirees than ever are deciding to relocate.

The number one reason for people moving out of Arizona last year (53.02%) was due to employment. However, at the same time, 40.26% of those people moving into Arizona claimed it was for employment. The unemployment rate has continued to drop from a high of around 11% in 2010, to a current rate of about 5%. It makes sense that, even though more people migrated into Arizona than moved out last year, only 22.63% of that population were under 45 years old, while 34.04% of those under 45 moved out of the state. Younger people are headed to areas where they feel they have an opportunity to advance their careers.

Moving to Chandler for work | Troy Erickson Realtor

Active Adult Communities in Chandler | Troy Erickson Realtor

Having a reputation as a well-known retirement destination, it should come as no surprise that 60.25% of the population moving into Arizona last year were aged 55 plus. This is the largest influx of people moving into Arizona, and more than makes up for the percentage of younger people exiting. Arizona has always been known for the sunshine, golf, hiking, and having an active adult lifestyle. According to the survey, the number two reason people are migrating to Arizona (30.75%) is for retirement. There are many active adult communities in Arizona that cater to those who are retired, or are near retirement.

View the interactive map below, and click on an individual state to see their specific statistics:

To read the entire article you can click here. People have once again started to move back to Arizona, mainly as a great place to retire.

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