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Arizona real estate

5 hottest real estate markets in Arizona

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This article originally appeared in AZ Big Media. See it here.

The U.S. housing market has weathered a challenging 2020. Unprecedented events such as a global pandemic and a tumultuous presidential election have fueled a period of economic uncertainty.  However, despite these challenges, recent research shows that Arizona’s real estate market will see an 8.2% appreciation in house prices from the beginning of 2021 through September, making it one of the hottest real estate markets in the country. This market forecast isn’t surprising considering that Arizona has a history of exponential growth in property value since Q1 2000.

The predicted growth is catalyzed mainly by low property inventory and low mortgage rates.  While buyers are attracted by low mortgage rates, the low inventory forces them to compete with desirable property and locations, which ultimately bolsters the property’s value.

That said, below are some of the most promising real estate markets in Arizona:

1. Phoenix

Phoenix is Arizona’s most populous city and is considered one of the largest housing markets in the United States and also one of the hottest real estate markets in the U.S. It features a combination of beautiful weather, a booming economy, nightlife, prestigious restaurants, and shopping, which continue to draw people to the metro area.

Short-term rentals, in particular, are thriving thanks to the city’s tourism industry, which brings tourists every year with major events like the Phoenix Film Festival and a vast collection of golf courses. Of course, Phoenix’s short-term rental industry was hit hard by the COVID-19 pandemic. However, the industry has shown resilience with relatively fair returns as investors implement safety measures to curb the spread of the virus and encourage guests to feel safe.

Additionally, Phoenix’s affordability is attracting the growing population of remote workerseyeing homes in the suburbs as opposed to crowded cities. They want affordable homes with office spaces and an appealing, warm climate, all of which can be found in Phoenix.

2.  Scottsdale

For decades, Scottsdale’s real estate market has been growing thanks to its high employment rate, good schools, and growing tourism industry.  This makes it a desirable area for families and young professionals to settle. As such, investing in condos, apartment complexes, or single-family homes for traditional renting or vacation options is a great way of maximizing returns and capitalizing on one of the hottest real estate markets.

Essentially, the traditional rental is thriving mainly due to the high price to rent ratio, standing at 23 according to recent findings. Therefore, with home prices on the rise, residents will rent out properties rather than buy their own. Even though the mortgage rates are low, they won’t offset high the cost of property for all buyers.

As an investor, the only downside to Scottsdale’s high property price is that you’ll spend more on initial investment than other locations on this list, but you’ll likely enjoy guaranteed returns.

3. Tucson

Tucson is a family-friendly city whose cost of living is 6% lower than the national average. The “old pueblo” town of Tucson  boasts  excellent public schools and is surrounded by beautiful outdoor scenery, making it a desirable choice for families. In particular, Corona de Tucson stands out as the most promising real estate market in the larger Tucson city. The town is an excellent place for investing in long-term rentals for single-family homes given its proximity to schools and low crime rate. This is because the median home value here is quite pricey, which drives most residents to rent. Additionally, the downtown area has a slew of thriving businesses, making it ideal for commercial real estate investors. 

4. Tempe

If you are looking for long-term property investment in Arizona, then Tempe town is the go-to-market. In fact, Arizona State University is located in Tempe, in addition to more than 20 other colleges within the town’s proximity. The great nightlife and a growing number of commercial buildings in Tempe have catalyzed its growth as an urban center with a demand for college rentals and commercial property.

Moreover, Tempe has seen its job market increase by 3.3% and is expected to grow by a whopping 49.9% over the next 10 years. For reference, the U.S. average for the next 10 years is 33.65%. With such promising economic growth, investors can expect a high demand for houses in Tempe.

5. Prescott

Prescott is a smaller town compared to other towns in Arizona. However, unlike most towns in this list, most residents here prefer homeownership, as evident from the town’s growing number of homeowners. Single-family home units are the most common as most of its residents are young families setting their roots in this town. Prescott is also home to several colleges and universities, making it a good place to buy traditional rental properties and commercial real estate. For novice investors with a limited budget, the town makes a good place to venture into real estate, given its relatively low median home value.

Arizona Real Estate Market Outlook

Arizona is becoming one of the top destinations for domestic relocations due to its strong economy and stable housing market. Its warm weather and excellent restaurants also make it a popular tourist destination. Thus, building your real estate portfolio with Arizona properties should be part of your growth strategy. However, before making any investment, it’s best to consult an experienced real estate agent for guidance on how to break into the market and scale your investment.

Michael Hills is vice president of brokerage at Atlas Real Estate.

Denver Business Journal Logo

Atlas Real Estate Named A Fast 50 Honoree By Denver Business Journal

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DENVER, Oct. 13, 2020 – Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition, has been named a Fast 50 honoree by Denver Business Journal.

The Fast 50 Awards is an annual ranking by Denver Business Journal, recognizing privately held companies based on their percentage of growth in annual revenue for the past three fiscal years and celebrating the region’s innovators and entrepreneurs.

“We have seen remarkable growth at Atlas over the past several years and intend to sustain that growth trajectory in the future despite being in the midst of a global pandemic,” said Tony Julianelle, CEO of Atlas Real Estate. “I’m grateful to work with such an amazing team of people who have risen to the challenge and continually push the envelope on our business.”

Atlas Real Estate has grown tremendously since the company was founded in 2013. Starting with locations in Denver, Colorado Springs and Fort Collins, Colorado, Atlas later expanded its presence to Phoenix, Arizona. In 2019, Atlas outgrew its landmark office, the Zang Mansion, moving to more spacious headquarters at 970 Yuma, Denver, CO.

“It’s deeply rewarding to see how far Atlas has come since our inception,” said Ryan Boykin, co-founder and partner. “Atlas being named to the Fast 50 List is a testament to the hard work, creativity and can-do spirit of the team. While we’ve come so far, the possibilities are endless so I’m certain this is only the beginning for Atlas.”

In order to be considered in the Fast 50 List, companies must have a gross annual revenue of $1 million or more. Companies interested in making the Fast 50 List were asked to complete an application and questionnaire. Finalists are ranked on revenue growth based on verified information submitted in the questionnaire.

Colorado Companies to Watch

Atlas Real Estate Named as Colorado Companies to Watch 2020 Award Winner

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DENVER, Sept. 22, 2020 /PRNewswire/ — Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisitions, is honored to be named a winner of the Colorado Companies to Watch Awards, presented by Bank of America.

Founded in 2009, Colorado Companies to Watch (CCTW) recognizes second-stage companies that are fueling Colorado’s economic growth. This year’s class of honorees is projected to generate more than $535 million in 2020. In addition to Atlas Real Estate, companies being recognized include FloWater, SonderMind, Wana Brands, HeartHero, Cheddar Up and Turbine Labs.

“We are especially pleased by this award because it is further indication that our mission to uplift humanity through real estate resonates as well outside our company as it does within,” said Tony Julianelle, CEO of Atlas Real Estate. “Colorado is our home and we are committed to creating a vibrant community that helps everyone we touch flourish!”

The Colorado Companies to Watch Awards receives more than 1,000 nominations every year. Winners are selected through a juried panel of Colorado industry leaders. The judges select the 50 award-winning companies from the list of finalists.

“This award validates our belief in real estate to change lives for the better and our commitment to the communities we serve,” said Ryan Boykin, co-founder and partner. “We envision growing and advancing our local team members, for it’s their dedication, enthusiasm and drive that has enabled us to make such a positive impact across the state.”

The full list of honorees can be viewed in ColoradoBiz Magazine.

About Atlas Real Estate: Atlas is a distinctly different real estate company specializing in: Investment; Property Management; Institutional Acquisition; a full-service Buy/Sell Brokerage; and a Zillow Offers Partner Agent. Serving Colorado, Arizona and Nevada, the group transacts more than $1 billion in real estate annually and manages more than 3,200 residential units. Atlas has been recognized as Best Place to Work, Best Property Management and Top Company in Real Estate. To learn more about Atlas, visit www.realatlas.com.

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Zillow

Poised for Growth, These Are The Dozen Mid-Sized Metros to Watch

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SEATTLE, Sept. 15, 2020 /PRNewswire/ — This year has been anything but normal and, like 2020 as a whole, this summer’s most in-demand housing markets are not the usual suspects.

A new Zillow® analysis shows mid-sized1 cities like Boise, Syracuse, and Portland (ME) are now leading the country as the top markets poised for growth, replacing expensive coastal metros such as San Francisco and Seattle that have led the way in the past. Many of these markets also happen to offer home shoppers more space for their money, as the coronavirus pandemic has reshaped where and how people want to live.

The analysis weighs a variety of factors to show demand in the market, and continued opportunity for growth. Those include recent and forecasted home value growth, the share of homes sold above list price, and how quickly homes sell.

Home shopper behavior continues to evolve throughout the pandemic, but many are reconsidering their home’s functionality or dreaming of more space — factors which might drive their next move. A recent Zillow survey2 found nearly one-third of Americans who could occasionally work remotely said they would consider moving in order to live in a larger home (30%), have a home with more rooms (29%), and have a home with a dedicated office space (31%).

As remote work opens up more opportunities for home ownership, many first-time buyers may seek out a starter home in a more affordable area. These are the top dozen mid-sized metros that offer more space for growing families and big-city amenities for urbanites.

1.  Boise, Idaho

Population: 616,5613; typical home value: $334,965

Boise, Idaho, is an up-and-coming city drawing young professionals, families, and retirees alike. Home values are strong and continue to rise, increasing 11.8% from last year, and are expected to grow 5.6% into next year. Buyers are snatching up houses in record time here, with the typical home going under contract in as little as five days.

“Boise offers that small-town feel people crave from the movies, and has something for everyone,” says Michael Edgar, owner of Michael Ryan Real Estate, who relocated to Boise in 2003 from California. “There’s an abundance of outdoor activities right outside your doorstep, plenty of restaurants to choose from, and not a lack of career opportunities. Its affordability makes it a great place to raise kids, retire, or work remotely.”

Boise, which was an under-the-radar hot market last year, offers both a bustling downtown, with quiet neighborhoods and access to outdoor recreation.

2.  Huntsville, Ala.

Population: 417,593; typical home value: $203,242

Huntsville, known as Rocket City, is home to the U.S. Space and Rocket Center. Home values have also skyrocketed, increasing 11.5% compared to last year, and home values are forecasted to increase 5% over the next year.

3.  Ogden, Utah

Population: 597,159; typical home value: $344,816

Ogden offers the benefits of urban life with easy access to the outdoors. The demand in this market is strong, with 41.5% of homes selling above list price — helping sellers who want to trade up and signaling there are buyers eager to settle in Ogden. Zillow is forecasting home values in Ogden will increase 4.6% in the next year, showing the demand for this market is here to stay.

4.  Spokane, Wash.

Population: 527,753; typical home value: $293,655

Spokane has seen accelerating home value growth, increasing 9.5% from a year prior. The Spokane market is hot for sellers, with 45.1% of homes selling above list price.  Competition for homes here may be attributed, in part, to the metro’s vibrant downtown, trail system and growing microbrewery and winery scene.

5.  York, Pa.

Population: 434,972; typical home value: $195,837

York is the oldest city on this list, dating back to 1777 as the first U.S. capital. Today, York has a suburban feel mixed with its history, and sales of these architecturally unique homes do not appear to be slowing down anytime soon. Home sales increased a whopping 75.7% from the previous month, and are 17.7% above last year’s levels.

6.  Colorado Springs, Colo.

Population: 645,613; typical home value: $336,927

Colorado Springs’ hot housing market bumps it up the list, with home values sharply increasing and poised to continue strong growth. Home values have seen a 9.5% increase from last year, and are forecasted to grow 4.8% over the next year. Home sales are up 17.8% above last year’s levels.

“If you love the outdoors and you love biking, hiking, camping and all the things that come with the Colorado lifestyle, you’ll love the Springs,” said Jacob Mueller, a Colorado Springs native and a Zillow Premier Agent with Atlas Real Estate. “You can get into the mountains really easily and that’s very attractive.  The city is also experiencing tremendous economic growth, so people can grow their careers here without having to leave for a bigger city.”

7.  Lancaster, Pa.

Population: 519,445; typical home value: $242,009

Homes are flying off the market in the growing city of Lancaster, and home sales continue to boom. Sales are up 78.6% from last month, with homes typically going under contract in 7 days. With its proximity to city hubs and great walkability, Lancaster offers wide open spaces, with proximity to plenty of bars and restaurants.

8.  Modesto, Calif.

Population: 514,453; typical home value: $340,762

Homes in Modesto are in high demand, with 39.1% selling above the list price — indicating buyers are competing to put down roots in this agricultural hub. Homes are only on the market for 7 days before going under contract, and home values here are forecasted to increase 4% over the next year.

9.  Syracuse, N.Y.

Population: 662,577; typical home value: $154,596

Syracuse is the market to watch in upstate New York. Home values here continue to appreciate, and are 6.8% above last year’s levels, and projected to increase 4% by this time next year.

“Syracuse offers a great quality of life at a reasonable cost,” said R.J. Long, managing partner at Coldwell Banker Prime Properties in New York state. “It’s got gorgeous hills and terrain, and proximity to the water with the Great Lakes and the Finger Lakes nearby.  It offers beautiful homes, good jobs and it’s accessible from anywhere in the state.”

10.   Visalia, Calif.

Population: 442,179; typical home value: $232,800

Visalia is a vibrant community with a small-town feel and a gateway to the outdoors. Home values continue to climb here, up 7.5% since last year. Home value growth is forecasted to continue into next year, expected to rise another 4.3%. Additionally, more than one out of every three of homes on the market sell above list price, indicating buyers are ready to settle down in this community.

11.   Portland, Maine

Population: 514,098; typical home value: $334,650

“For those looking for an arts and foodie-driven lifestyle on the ocean, Portland can’t be beat,” says Nate Wildes, Executive Director of the nonprofit Live and Work in Maine. “Portland offers the Maine quality of life, matched with a uniquely quaint urban experience and genuine sense of place. The communities of greater-Portland are a thriving destination.”

Home values in this seaport metro continue to grow, up 7.5% from last year and are expected to see 3.9% growth into next year. There are very eager buyers ready to make Portland home, with nearly 40% of homes selling above list price.

12.   Lansing, Mich.

Population: 464,036; typical home value: $170,011

Rounding out the list is Michigan’s capital, Lansing, where buyers are active and ready to secure their next home. Monthly sales are increasing at a rapid pace, up about 68% from the previous month, and 40% of homes are selling above the listed price.

Methodology

“Mid-Sized Markets” are metropolitan areas ranked by size between 76-125 of all U.S metros. The analysis of these metros weighted five variables equally to determine the list:

  • Home value growth year-over-year
  • Forecasted home value growth
  • Days a home stays on the market
  • Share of homes sold above list price
  • Month-over-month sale counts

About Zillow

Zillow, the most-visited real estate website in the U.S., is building an on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow’s businesses to find and get into their next home with speed, certainty and ease.

In addition to for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.

Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they’ve come to expect from real estate’s most trusted brand.

Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG).

1 Mid-size cities are ranked by size between 75-125 of all U.S metros

2 This survey was conducted online within the United States by The Harris Poll on behalf of Zillow from May 4-6, 2020among 2,065 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact press@zillow.com.

3 Population data are the most recent numbers from the 2010 Census

SOURCE Zillow

Ryan Boykin Atlas Real Estate Denver Partner CoFounder

Lesson Learned: Believe in the power of investing in you

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Find out how Atlas Real Estate’s Ryan Boykin turned his entrepreneurial talents toward a career in real estate and a belief in the power of investing

In this weekly column, real estate agents across the nation share stories of the lessons they’ve learned during their time in the industry.

From its small business beginnings to its current transactions of $1 billion annually, Denver’s Atlas Real Estate has experienced exponential growth and made co-founder Ryan Boykin a leading voice in the real estate investment space. With more than 6,000 units purchased and 3,200 under current management, Boykin’s career is a testament to the business-building power of real estate. Find out how he got started and what he learned along the way.

View the full Inman Article Here.

Business Insider

A property management CEO says the key ingredient to successful real estate investing isn’t just location — you also need natural boundaries

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Real estate experts know how important location is when it comes to making a new investment.

And according to seasoned investor Tony Julianelle, who also serves as the CEO of property management firm Atlas Real Estate, there’s a way for buyers to assess a city’s long-term investment potential and make the most of their investments.

The rule is simple: look for cities with natural boundaries

Julianelle said certain locations have better appreciation because of their geographic boundaries and pointed out that places with natural restraints like Denver and Boise are cities with strong long-term investment potential.

“Denver is naturally constrained by mountains,” he said, adding that the city’s value is bolstered by its clearly defined natural borders.

Adding that scarcity of land builds property value, Julianelle mentioned the astronomical values of property in places like Manhattan Island — a famous natural boundary — where high prices are driven by demand for property that is naturally irreplaceable.

In contrast, “Oklahoma City is a pancake,” he said, emphasizing that the city’s development can simply keep spreading outward, and Kansas City, for example, stands in a similar position.

“It’s [Oklahoma City] never going to out-appreciate the new construction,” he said. “You don’t want that.”

This article originally appeared on Business Insider. 

Colorado Public Radio

Colorado Evictions Pick Up, But The Long-Feared Tsunami Hasn’t Hit Yet

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More Coloradans faced eviction after unemployment checks shrank and bans on eviction expired, but a long-feared tsunami of court cases hasn’t hit the state so far.

The state courts accepted filings for more than 1,200 removals throughout July, and nearly 300 more in the first week of August.

That was a sharp acceleration from the earlier months of the pandemic when the courts were all but frozen. Still, it’s far short of the state’s typical evictions activity, and it indicates that relatively few landlords moved toward immediate eviction as initial protections expired.

The Colorado Apartment Association argues that the low numbers are a sign of success.

“While evictions may creep closer to normal rates in August, the number of evictions is far, far below Colorado’s averages, and we attribute this to the way the community has stepped forward to help renters,” said Mark Williams, executive vice president for the organization, in a released statement. 

Surveys of large apartment operators have shown relatively few renters have stopped paying their bills altogether, and the apartment association said that there was “not a crisis.” Emergency government housing funds and unemployment benefits may have blunted the edge of evictions up til now.

“We’ve been really fortunate over these last several months to see the stimulus that was put in place … really work I think the way they were intended and help people make their basic needs, including their rent payments,” said Tony Julianelle, president of Atlas Real Estate, which manages thousands of apartment units on the Front Range.

Still, he said, a sharp reduction in unemployment benefits could push more renters to the edge. The $600-a-week federal supplement expired in late July, and the $300-a-week replacement may not arrive for weeks more.

September “is definitely going to be the stress test, if you will, without the level of support we’ve had for the last few months.”

Read the full article on CPR 

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Business Insider

7 cities real estate investors should target in the 2020s, from a property management CEO

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Good property investors should always have a pulse on the market.

And as the US continues to combat an unpredictable real estate climate brought on by the coronavirus pandemic, the likely sellers’ market could mean now is the right time for investors to start thinking about their next move.

Longtime investor and Atlas Real Estate CEO Tony Julianelle, who has built a $3.5 million real estate portfolio from scratch, told Business Insider that while real estate investments are great opportunities for investors looking to generate passive income, some cities are more likely than others to lead to profits.

With long-term market appeal, financing costs, and a number of other financial factors varying by state, Julianelle said some locations protect an investor’s bottom line better than others.

Read the full article on Business Insider

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Tony Julianelle Atlas Real Estate Denver CEO

Homeownership hit a 12-year high during COVID — or did it?

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Tony Julianelle is quoted in The Mortgage Reports. 

Homeownership is at its highest level in 12 years.

At least, that’s what a new report from the Census Bureau says.

Some experts doubt the data. Since the pandemic affected the survey, homeownership numbers might not be as high as they look.

But one thing seems clear: Home buying hasn’t gone away during coronavirus.

In fact, Americans are buying homes about as fast as they can be listed — even as the economy has stalled.

How is that possible? And what happens next? We asked the experts.

Read the full article on The Mortgage Reports 

Business Insider

3 investments that boost passive income, from a property manager who built an $8 million real estate portfolio

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Generating passive rental income is the goal for any smart real estate investor, but it’s not always easy.

There are things about a property every investor should know before they close a deal, but sometimes, the unexpected happens, and landlords lose.

That said, there are a number of strategies investors should be mindful of that can help them secure a maximum return and avoid circumstances that can lead to financial setbacks.

A property management expert, Mike Hills has been house hacking for almost 20 years, and knows what investors need to do to stay on top. He owns a portfolio worth more than $8 million, built off the strategy in which owners of multifamily rental properties live in one of their units while collecting rent from the others.

Here are the three things Hills has invested in to boost his passive income from that portfolio.

Read the full article on Business Insider

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