By Louisa Ward
In the recent past, all homes were in demand. Even the less desirable homes that backed or faced a busy street were selling for almost the same price as nicer interior lots. The shortage of homes and the intense demand caused increased home desirability for all conditions and locations. As the seller’s market is cooling off, the location, condition and amenities of a home are going to become important factors again. The homes with better locations and features will sell for higher prices and shorter days on market.
In late March, the Valley began seeing a shift. It was tiny and barely noticeable. The supply was increasing. As supply increases, buyers have more options. When buyers have more options, the condition and upgrades of the homes they have to choose from will play a big role in homes’ value and days on the market.
This chart shows the North 32nd Corridor’s supply for year 2021 (zip codes 85028 and 85032). With the exception of a sharp drop in week 30, the supply in our community has been increasing since the end of March.
The Value of Trees
Everyone understands about updating, remodeling, de-cluttering, and cleaning. We even know about manicured landscaping and curb appeal. But no one ever talks about trees! Trees add value to homes in both quality of life, energy savings, and increased home value.
Some facts to consider about trees:
• Having large trees in yards along streets increases a home’s value.
• Landscaping, especially with trees, can increase property values as much as 20 percent.
• Healthy, mature trees add an average of 10 percent to a property’s value.
• A mature tree can often have an appraised value of between $1,000 and $10,000.
• The net cooling effect of a young, healthy tree is equivalent to ten room size air conditioners operating 20 hours a day.
• If you plant a tree today on the west side of your home, in five years your energy bills should be 3% less. In 15 years the savings will be nearly 12%.
• In laboratory research, visual exposure to settings with trees has produced significant recovery from stress within five minutes, as indicated by changes in blood pressure and muscle tension.
Free Trees for your Home
The City of Phoenix will provide free trees to neighborhoods to plant. The goal is to beautify the neighborhood, reduce carbon, lower the heat island effect, and meet the Tree and Shade Plan. It also has the effect of increase property values. Not a bad deal! The City of Phoenix will deliver to each home that participates in the neighborhood a 15-gallon tree which each homeowner selects from the city’s approved list to be planted in front of your house. You only need a minimum of 20 residents to participate and agree to the following:
• Maintain your trees.
• Participate in a 1.5 hour training called “Best practices for Planting a Tree in the Desert.”
• Select a Neighborhood Planting Day.
For more info, contact the City of Phoenix Office of Environmental Programs and Sustainability at 602-256-5669.
Increase your home’s value. Plant a tree!
Louisa Ward is a senior partner at My Az Realty Team and RE/MAX Excalibur. She is part of the Top 2 percent of Realtors in Phoenix and Scottsdale with 25 years of experience. Louisa is also an active member of the North 32nd community, serving as a local real estate expert, member of the PV Village Planning Committee, and a Mountain Preserve Block Watch leader. To learn more, visit MyAZRealtyTeam.com, call 602-769-6699, or e-mail MyAzRealtyTeam@gmail.com.