Some big things you need to know about recent developments in Phoenix.
Do you know about all of the exciting changes happening in Phoenix? A lot has been developing, so I’m here to keep you updated. From the big Airbnb bust to new developments and construction coming to the Phoenix area, I’m sharing the news you need to know.
Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:
0:00 — Introduction
0:25 — An Airbnb bust
2:15 — What happened?
3:36 — Why did this happen?
5:10 — Some people will sell
6:30 — Approval for a new arena
7:35 — Scottsdale Resort ranked high
8:53 — New hotel and sports complex
11:25 — New multifamily and office space coming to Biltmore
12:00 — Wrapping up
If you have any questions about any of this, please feel free to reach out. I would love to be your resource for all of your real estate needs, so call or email me anytime.
Are you looking to buy, sell, or invest in the greater Phoenix area? If so, you’re sure to be excited by all of the fantastic developments going on. Major new businesses are either moving in or expanding their operations in Phoenix. Everything from agribusiness to new hotels to electric vehicles are either coming to or growing in Phoenix. I’ve got a list of the most significant developments in the Phoenix area for you today, and you will not want to miss it.
1. Global Ambassador Hotel. This 141-room hotel will be led by Dirks Bentley, Larry Fitzgerald, and Devon Booker. It will be located in the Arcadia area in the Grove Neighborhood.
2. Intel Expansion. Chips make the world go round, and Intel is constructing a $20 billion expansion that will create roughly 3,000 new jobs.
3. Arizona Fresh Agri-food Innovation Center. This will be located in the West Valley and is being developed by Peoria-based Plaza Co. The 1.2 million square foot center will feature a distribution center, farmers market, and more.
4. Electric Vehicle Expansion. Lucid Motors in Casa Grande and Nikola Corporation are expanding in the area. Nikola’s new hub will be part of its push toward hydrogen production.
5. Pinal County Industrial Growth. Procter & Gamble is investing $500 million in Coolidge, and Casa Grande will see Kohler coming into the area. Eloy has countless semiconductor manufacturers in the region as well.
6. Data Center Growth. Facebook has the largest infrastructure development in Phoenix in East Mesa. We also have Stack Infrastructure building a site in Phoenix and in Glendale.
7. Virgin Galactic. Mesa will be the home of the final assembly manufacturing facility for Virgin Galactic’s spaceships. It will bring on hundreds of new jobs and produce up to six ships per year.
8. Battery Manufacturing Facilities. Idaho-based Kore Power is starting construction on a battery plant in Buckeye. LG is also looking at a $1.4 billion investment in the valley.
9. 250 Rio. This will be an iconic office building in Tempe. It’s a 14-story structure in the Ash Avenue area with plenty of space for retail and other amenities.
10. Electrameccanica. This Canadian-based three-wheeled car manufacturer is relocating its headquarters to Mesa.
11. TSMC. They are spending $40 billion on two factories in AZ. They will be producing silicon wafers to produce chips. This will eventually lead to 4,500 new jobs.
12. Skysong. The last Skysong development will be breaking ground soon here in south Scottsdale.
13. West Valley Retail Growth. Hundreds of millions of square feet of retail space are going up all over the west valley.
14. Nestle. In 2022, Nestle announced they would build a new Coffee Creamer plant in the west valley. On site will also be the makers of Red Bull and White Claw.
15. Developer George Oliver. This man paid $61 million and will infuse another $52 million into a building in Biltmore. Anything with his name attached is sure to be huge.
16. Esplanade. Four of the five buildings there were just purchased for remodeling by factors in New York and Philadelphia.
17. Discount Tire. This huge distributor and retailer is going wild in Phoenix. They are moving to a new headquarters in North Phoenix, which is just massive.
18. Surf Parks. Two different surf parks are coming soon to the Phoenix area. The first will be in Mesa, called Cannon Beach. The City of Maricopa will also be getting a 71-acre park.
19. Metro Center Mall. Redevelopment is getting underway on this long-disused mall. The whole area will be refreshed with new housing, retail, and parking.
20. Scottsdale Fashion Square. This area is getting a massive new modern makeover. They will start construction of a massive hotel called Caesar’s Republic. There will be a luxury fitness center and apartment complex coming as well.
21. Via Resort and Mattel Adventure Park. It’s a $1 billion resort that will include multiple hotels, an artificial lake, as well as a huge theme park based on the Mattel family of properties.
As always, thank you for checking out my list. If you have any questions about the exciting developments coming to Phoenix or real estate in general, please call or email me. I am always happy to help you with any of your real estate needs.
From our team to your family, we want to wish you a happy holiday season.
Happy holidays to you!
The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories.
We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business.
This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or email, we’d love to help you.
In case we don’t hear from you until 2023, have a happy New Year!
What you need to know about appreciation, depreciation, and deceleration.
There are a lot of confusing terms floating around the housing market right now, like appreciation, depreciation, and deceleration. What do these terms mean, and which ones are relevant to our current market? To clear up the confusion, I’ll explain each of these terms and how they relate to what’s happening right now in our housing market.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
The difference in your net worth if you buy a home instead of renting.
What is the difference between the net worth of a homeowner and that of a renter? This is going to be shocking, guys. The average net worth of a homeowner in America at the end of 2021 was about $300,000, and the average net worth of a renter was $8,000. The number for a homeowner is 40 times bigger.
That is why the No. 1 most important thing you can do to increase your net worth is to buy at home. I didn’t say 10 or 20 homes. Just get started, and buy just one home. Over time you will have this beautiful thing called principal buydown, and you’ll benefit from the appreciation of your asset if you give it long enough. Prices fluctuate, of course, so get in for the long-term play. You have to live somewhere anyway.
“You’re paying a 100% interest rate if you rent instead of buy.”
The argument comes when people don’t want to pay a 6% or 8% interest rate when it was 4.5% months ago. However, no one ever got rich because they got a one percentage point savings on their mortgage. Plus, you can refinance sometime in the future when the terms are maybe more favorable. The reality is if you’re paying 6% on your mortgage or a house you own, what is the interest rate you’re paying if you rent your house? The answer is 100% because you are not building anything for yourself over time.
That’s why you should get out of the rental market. We highly suggest you consider purchasing a property for yourself to live in. Then consider other properties to build a rental portfolio—I am big on that because I think it’s a phenomenal way to invest money.
If you have more questions about building a real estate rental or investment portfolio, I would love to chat with you about that because I have one myself and I’m very passionate about it. Give me a call anytime. I’d love to talk.
How interest rate buydowns can help you buy a home in this market.
Interest rates are rising, and affordability is dropping. What can you do in today’s market to get the lowest rate possible? I have one secret weapon to help you do this: interest rate buydowns. You might’ve heard about these, but they haven’t been used for a long time. What are they exactly, and how can they help you in this market?
You can watch the full video above or skip to each section using the timestamps provided:
0:00 — Introducing today’s topic
1:29 — What monthly payment can you afford?
2:01 — How you can use seller concessions as a tool
2:51 — How this could affect your purchase
4:31 — You could get a payment that is similar to renting
5:42 — This can help you hedge against inflation.
6:13 — Wrapping up
If you have any questions, feel free to call us at (480) 227-2028 or send us an email. We‘d love to help.
Come join us for a free movie screening, food, drinks, and more!
Click the here and sign up for the FREE movie! We have a very special event coming up that we’re extremely proud to host for both past and prospective clients! It’s an opportunity for us to show you our gratitude for giving us the privilege of working for you and trusting us with your real estate goals.
We invite you to join us on our client appreciation day on August 13, 2022 at 1:15 pm with check-in starting at 12:30 pm. We will have a private screening of “Top Gun Maverick” at Harkins Theater, Harkins Shea 14 of 7354 Shea Boulevard, Castle, Arizona. It’s a phenomenal movie, and I’m excited to watch it with all of you! Please go there early and check in around 12:30 so we can give you free concessions, such as gift cards, drinks, and snacks to enjoy with your movie. We also have a raffle where you can win a large TV, gift basket, and more.
Thanks for being such amazing supporters and clients of our real estate team. We’re so excited to see you on August 13! As always, call or email us with any questions. We’re always happy to help.
Which option is better for you? A HELOC or cash-out refinance?
Which is better for you: a home equity line of credit or a cash-out refinance? Today we want to explain the difference between these two options, when you might use them, and which one is best for your situation.
You can watch our full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:58 — Explaining ROE (return on equity)
2:19 — Should you take out a HELOC or do a cash-out refinance?
3:20 — Explaining HELOCs
4:35 — HELOCs have an adjustable interest rate
6:26 — Explaining cash-out refinances
7:51 — The biggest pro of cash-out refinancing is that it isn’t taxable
8:34 — The interest you pay on a HELOC is tax-deductible if you improve your home
9:46 — Each option has its pros and cons
10:00 — Wrapping up today’s topic
If you have questions or would like to know which option is better for you, please call or email us. We are always willing to help!
It’s easy for buyers to become fatigued in a market like this.
Right now, buyers are facing an uphill battle to win the homes they want. This market is very competitive, and there isn’t much inventory. We don’t want our buyers to end up getting fatigued, so I’m sharing the five things we do to help our buyers in the current market.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to browse specific topics at your leisure:
0:00 — Introducing today’s topic
2:30 — No. 1: The Coming Soon Program
4:35 — No. 2: Relationships
8:10 — No. 3: Communication
9:30 — No. 4: We offer bonuses
10:00 — No. 5: Escalation clause
11:40 — Wrapping up
If you have any questions, don’t hesitate to reach out to us at (480) 442-9868 or info@kellycookhomes.com. We look forward to hearing from you.
With everything happening in our economy, is a recession coming?
Right now, there seems to be one question on everyone’s mind: “Are we heading for a recession?” People are concerned about inflation, rising interest rates, and global conflict, and it’s hard to blame them. Today I want to discuss the state of our market and predict whether or not we’re heading for a recession.
You can watch my full prediction in the video above, or skip to each topic using the timestamps provided:
0:00 — Introduction
1:02 — Explaining interest rates and inverted yield curves
2:05 — Our yield curve inverted recently, and people became concerned
3:48 — The three-month yield curve is not inverted
4:50 — Don’t get caught up in the negativity
5:16 — If we do have a recession, it will be mild
6:03 — The unemployment rate is low, and savings are high
8:03 — Wrapping things up
If you have questions about today’s topic, please call or email me. I am always willing to help.
