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The CDC Moratorium preventing Evictions is over – Get Real Estate with Liz & Marie

by | Aug 31, 2021 | Phoenix Weekly Market Updates | 0 comments

Here is your Phoenix metro area Real Estate Weekly Market Update! The following data was pulled from the Arizona MLS (ARMLS) on the date listed below:

Key points from this data:

  • The number of active listings across the county has increased slightly again
  • Average list price has increased slightly from where it was last week but not anything significant
  • City of Scottsdale was up $50k last week and back down $49k this week
  • Average days on market has increased by 1 or more days in each city and across the county
  • There is still a strong rental market

BIG NEWS in Real Estate:

1. The CDC moratorium has officially been lifted federally and Arizona counties are scheduling court dates for the previously filed motions, find more information here.

  • On August 26, 2021, the United States Supreme Court vacated that stay. This means the CDC moratorium that temporarily prevented evictions in Arizona is no longer in effect.
  • Through 09/30/21, there is an ongoing moratorium on evictions for nonpayment of rent for properties with federal mortgages when the landlord is receiving mortgage forbearance (deferred payment) for buildings with 5 or more units. The building mortgage must be backed by Fannie Mae or Freddie Mac (FHFA), the Federal Housing Administration (FHA), the U.S. Department of Agriculture (USDA), or the Veterans Administration (VA). To find out if a tenant is in a residence covered by this moratorium, go to Consumer Financial Protection Bureau’s webpage and Federal Housing Finance Agency’s webpage for tools and information about additional requirements for landlords.

2. Zanjero Falls, a three-story, grey shell building in Glendale sells for $10 Million and is going to be converted into over 300 apartment units. Check out the full story here:

  • This is promising for the City of Glendale offering more places to live near the entertainment district, Cardinals Stadium, Phoenix Coyote hockey arena, Westgate City Center
  • First phase of construction is estimated to be completed in late 2022 and the second phase in mid 2023

If you are looking to sell your rental property give us a call at 480-788-8513 or watch this free four minute video and we can give you multiple options on how to get rid of your rental property and save on capital gains tax!

This week’s LOCAL NEWS

There are groups here in the Valley of the Sun that are helping veterans as they come home from Afghanistan, to check out the full story on azfamily.com click here

  • Operation Shockwave is a non-profit dedicated to preventing military and veteran suicide
  • Survivors of War located in Mesa is helping rehabilitate veteran survivors through a program they call F.A.I.T.H.

About Liz & Marie

Liz & Marie are the area’s leading real estate solutions company. We successfully work with homeowners, buyers, sellers, real estate agents, and real estate investors, buying and selling all types of residential real estate. We are confident that we can find the right property or solution for you, whether you have a house to sell, are looking to buy your next investment property, or are looking for your family’s “forever home.” We can share our knowledge so that you can make the best decisions for your situation and we are dedicated to making everyone’s experience a smooth and successful process.

Liz & Marie specialize in buying and selling your home at the price, and on the timeline, that works for all of us. Our extensive knowledge of real estate investing and a large network of real estate investors nationwide allows us to offer more buying choices and a wide variety of selling options for all types of home buyers and sellers, including financially distressed homeowners. Our mission is to work hand in hand with all parties and to handle every situation with the utmost professionalism and care.

We are thrilled to be a part of this next chapter in your life. Our commitment to excellence starts with treating you and your transaction with the utmost care and professionalism. We know that buying and selling a home is one of the biggest decisions you’ll ever make and we are humbled that so many homeowners choose us to join them on their journey. Let us lead the way and earn your business today.

We may be Crazy Liz and Wacky Marie but together we can do anything. Our combined experience in real estate has given us tons of lessons and has provided us the opportunity to help many homeowners! We are always striving to learn more and help others!
Let us know how we can help you today!

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