A Monthly Insight into the Current Real Estate Market

In this Issue >>>

March 2016

Phoenix Home Prices are on the Rise

From the chart below you can see our home prices are continuing to rise. Since February 2015 the average price has risen nearly 8%. That’s Great news if you have a home you want to sell! Most Real Estate fore-casters are predicting another good year for the Phoenix market, with appreciation in the 5 - 8% range. Baring any crazy geo-political events, I agree with them.

Here’s what driving the market for the next 6 to 12 months:

Mortgage Interest Rates around 4%

First Time buyers entering the market

Government making it easier to qualify for a mortgage Investors are starting to take notice of our rising prices while looking for a safe haven away from the volatile stock market. Homes under $225,000 and higher end condos in the North Phoenix and Scottsdale areas are attracting attention. Vacancy rates remain low and rents profitable even with all the new construction in the North corridor. Thinking of selling? The next few months are historically the best time of the year to sell in the Phoenix area. The number of homes available has been increasing and with it competition for buyers. If your home is in good condition and priced right you should be able to find a buyer quickly and get top dollar. It is taking an average of 79 days on the market to get an accepted contract.

Remember Buying or Selling—Call Us! We will look out for your BEST Interest!

Phoenix Market Update 1

First US Paper Money Printed

in March 1862

1

Landlord Legal Stuff 2

Events In February 2

Investor’s Corner 3

Meet the Cornerstone Team 3

Advantage Program 4

Quality Vendors 4

AZ Cornerstone Realty, LLC

Firm Foundations Begin with the Right Cornerstone

$250,000.00

$260,000.00

$270,000.00

$280,000.00

$290,000.00

$300,000.00

Average Sold Prices

March 10, 1862 - The first issue of U.S. government paper money occurred as $5, $10 and $20 bills began circulation

Arizona Renaissance Festival - February 6th - March 27th

Each year you can enjoy music, theater, comedy, food and drink, crafts, games

and knights jousting at the Arizona Renaissance Festival in Apache Junction.

Chandler Great American BBQ & Beer Festival - Saturday Mar . 19th

Downtown Chandler The Great American BBQ & Beer Festival is not just another barbecue competition. It is a fami-

ly festival in the streets of downtown Chandler where you can listen to music, have fun and enjoy great food and beer.

About 100 exhibitors are expected to participate, including nearly 60 BBQ vendors. To wash it all down, more than

200 kegs of ice cold craft beer will be on hand at the Great American Barbeque & Beer Festival. Bands will perform.

A portion of event proceeds to benefit Boot Campaign, providing assistance to wounded military and their families.

Avondale—NASCAR 2016 - Mar . 11th - 13th located at 125 S. Avondale Blvd. Suite 200 in Avondale. The phone

number is 866-408-RACE - Race Time 12:30 Sunday

Phoenix International Raceway is home to NASCAR Sprint Cup, NASCAR Nationwide Series. Make Spring Break

2016 one to remember with tickets to NASCAR's first short-track race of the season when NASCAR Goes West!

Date: Sunday, March 13, 2016

Time: 12:30 p.m.

Question: What are you required to give your tenants upon move in?

A signed copy of their lease agreement

A move-in form - This is where you and the tenants can record any damages to the

unit that already exist

Written notice that the tenants may be present at move-out inspection.

Question: How long to I have to return a tenant’s security deposit?

Within 14 days of receiving a Request for Return of Security Deposit, excluding

weekends and holidays, the landlord must provide the tenant with an itemized

list of all charges that you intend to deduct from the security deposit, and the

balance of the security deposit. The landlord must mail this itemized list of

charges to the address specified by the tenant in their request, or to their last

known address if tenants fail to provide a forwarding address. A.R.S. §33-1321(D).

QUESTION: WE SENT A TENANT A 30-DAY NOTICE OF NON-RENEWAL

FOR THEIR MONTH-TO-MONTH TENANCY ON MARCH 3RD TO BE OUT

APRIL 3RD. IS THIS CORRECT?

NO. IF THE RENT IS DUE ON THE FIRST, THE 30-DAY NOTICE WOULD

HAVE TO HAVE BEEN RECEIVED PRIOR TO THE FIRST TO BE EFFECTIVE

FOR THE END OF THAT MONTH. YOUR NOTICE OF MARCH 3RD

WOULD NOT BE UP UNTIL APRIL 30TH.

There is no one perfect path to pursue when it comes to real estate investment

strategies. Different investors have different goals. At AZ Cornerstone Realty,

we can offer strategies to fit your goals. For example, one investor may be in the

market for a fix and flip property, while another wants to buy, rent and hold.

The bottom line is that no matter your goals, we can help you to grow your in-

vestment portfolio through inspired and creative investments.

Here are some properties that are currently available:

FIX & FLIP Opportunity - 4725 W Aire Libre Ave, Glendale, AZ 85306 $169,000 3 Bed-

room 2 Bath 2 Car Garage + Pool 1623 Square Feet.

ESTIMATED AFTER REPAIRED VALUE $215,000

BUY & HOLD CONDO - 12123 W. Bell Rd #126 Surprise , AZ 85378 $70,000 2 Bedroom 1

Bath Condo - Would Rent for $775.00 - $800.00

Return on cash invested Approx. 15% Annually.

BUY & HOLD SINGLE FAMILY HOME - 1935 W. Nancy Lane Phoenix, AZ 85041 4 Bed-

room, 2 Bath, 2 Car Garage 2051 Square Feet $180,000

Monthly Rent $1,100.00 Return on Cash invested Approx. 8% Annually

We provide a spreadsheet analysis showing investment returns, income, expenses and purchase costs to our clients!

Call us when you are ready to add to your portfolio.

Each month we will highlight a Cornerstone Team Member

Mindy Brown - Realtor / Property Manager

Mindy joined our AZ Cornerstone team in 2015. She has a Master’s De-gree in Language Arts. She taught secondary education English and Language Arts in the Deer Valley school District for 10 years. Mindy stays active in the community by coaching a local middle school track team and playing on several adult soccer teams.

Mindy is currently managing 60 properties and is doing a GREAT JOB! She also works with Investors, Buyers and Home Sellers

Need FAST Dependable Service?

We Recommend these Quality Vendors!

FIRM FOUNDATIONS BEGIN WITH THE RIGHT CORNERSTONE

Family owned and operated.

Phone: (623) 215-2703 Fax: (623) 321-6120 Website: www.azcshomes.com

Home Sale/Purchase Advantage Program

What we can do for You!

Up to $500.00 Cash Gift at closing to use however you want

Free Home Appraisal (Reimbursed at Closing) if you use our pre-ferred lender

Great Mortgage Rates & Service with our Preferred Lenders

The Best Home Insurance with A+ rated Companies

50% Discount on Escrow Closing Fees

Discounted Home Inspection Service

Discounted Home Warranty

Free Termite Inspection

Free Home Searches sent to your Email

You can Search the Realtor MLS on our Website!

BUYING OR SELLING?

Don’t forget...

If you’re searching for a

home, check out our website

where you can search the

Realtor MLS real time!

Appliance Repair Elite Appliance Repair - (623) 866-3677. Always friendly and

very reliable.

AC/HVAC Service Clear Air AC - (602) 478-2974. Air Conditioning & Heating.

Cleaning Service Kingdom Cleaning - (602) 434-0852. Call Julie for fast and relia-ble housecleaning. You can trust her and her crew to make your home spic & span.

Garage Door Service A & R Garage Door - (602) 427-7808. Ron is very friendly and always gets the job done in a timely manner.

Handyman Service Dave Moses - (602) 488-3812. Very good all around handyman. Specializes in tile flooring.

Landscaping Lupe’s Landscaping - (602) 451-9593. Ask for Lupe.

Plumbing Paradise Plumbing & Gas, LLC - (602) 565-0936. Licensed, bond-ed, and insured.

Pool Service My Pool Man - (602) 326-0589. Dave Hazel is reliable and has great prices. He is the pool dude.

Dana Brown - Broker

Mike Konieczki - Assoc. Broker

Sharon Martinez - Accountant

Pam Brown - Realtor/Assistant

Gina Burns - Marketing

Qamar Zaman - Realtor/Investor

Allison Nguyen - Realtor

Mindy Brown - Realtor

Kim Elmdanat - Realtor

Brandon Moses - Realtor

Eric Lee - Realtor

Nydia Mojica - Realtor

AZ Cornerstone Realty, LLC

20325 N. 51st Ave. Suite#134 Glendale, AZ 85308