3 On Your Side

Phoenix area sees a significant real estate rebound

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The Phoenix real estate market has officially taken off. (Source: 3TV) The Phoenix real estate market has officially taken off. (Source: 3TV)
In fact, in 2008, more than 861,000 families actually lost their homes to foreclosure and that's just for that year. (Source: 3TV) In fact, in 2008, more than 861,000 families actually lost their homes to foreclosure and that's just for that year. (Source: 3TV)
(3 ON YOUR SIDE) -

Do you remember the housing bubble? It pretty much crippled our economy and forced countless families out of their home. Well, fast-forward 10 years and the real estate market is back in full force and thriving. 

“We're seeing houses moving fairly fast,” said Nate Martinez, who is a Valley real estate agent and has been in the business for more than 30 years.

The Phoenix real estate market has officially taken off.

“The market is pretty hot, especially I would say in the $200,000 to $300,000 price range,” said Martinez. 

He says the current real estate climate is a far cry from the mid-2000s.

In fact, in 2008, more than 861,000 families actually lost their homes to foreclosure and that's just for that year.

But, 10 years later, and Martinez says things have turned around.

“In the last five years in Arizona alone, we've had a 39 percent increase in value in property,” he said.

And homes, especially under the $300,000 mark, don't last long at all.

“Forty-seven percent of homes sold in the first 30 days,” Martinez said. 

That means it's a sellers’ market. It also means if you're a buyer, you'll have to be prepared before someone else gets the house you want.

"They need to have their loan done. They need to know exactly what they're looking for in a house. They need to be prepared that in a multiple offer, they may have to pay above full price to get the house," he said. 

Martinez says the days of low-ball offers just aren't cutting it. But there's a flip side.

If your selling, you also can't get too greedy with your pricing.

“If your house is on the market and you've been on the market longer than 30 days, it's a good possibility it's the price,” he said.

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Copyright 2018 KPHO/KTVK (KPHO Broadcasting Corporation). All rights reserved.


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LiAna EnriquezLiAna Enriquez is a native of Arizona. She attended Marcos de Niza High School in Tempe, Arizona.

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LiAna Enriquez

She then went on to Arizona State University. She graduated summa cum laude from the University’s prestigious, Walter Cronkite School of Journalism with a degree in Journalism/Mass Communications with an emphasis in broadcasting.

LiAna started her news career with KTVK-TV as an intern. She loved it so much she never left! She has been with the station for fourteen years. Currently, she is the consumer investigative producer for Arizona’s top rated consumer segment, 3 On Your Side and is also a general assignment reporter. LiAna also reported for the station’s top rated high school sports show, ‘The Varsity Zone’ for five years.

In her free time LiAna enjoys cooking, watching movies, quading, and traveling. But her absolute favorite thing to do, is to hang out with her husband and beautiful daughters. She is a softball mom. She loves the beach and waterfalls! Her favorite team is the Arizona Cardinals and of course, the Sun Devils.

Life motto: “I can do all things through Christ who strengthens me.” (Philippians 4:13)

If you have a story idea for LiAna, Send her an email .

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Gary HarperGary Harper is the senior consumer and investigative reporter for 3 On Your Side at KTVK-TV.

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Gary Harper
3 On Your Side

With more than 20 years of television experience, Gary has established himself as a leader in the industry when it comes to assisting viewers and resolving their consumer-related issues. His passion and enthusiasm have helped him earn an Emmy for Best Consumer Reporter from the National Academy of Television Arts and Sciences. He’s also garnered several Emmy nominations

He has negotiated resolutions with companies of all sizes, including some of the biggest corporations in the nation.

Gary has successfully recouped more than $1 million for viewers around the state, making 3 On Your Side one of the most popular segments on KTVK and the station's Web site.

He's best known for investigating and confronting unscrupulous contractors. In fact, many of his news reports have led to police investigations and jail time for those who were caught. Viewers, as well as the companies and people he investigates, regard him as consistently being thorough and fair.

Gary has been with KTVK-TV since 1997. Prior to his arrival in Phoenix, he worked for WZZM-TV in Grand Rapids, Michigan, where he was as an anchor and reporter.

Gary is from Chicago, but launched his television career in Lubbock, Texas, after earning a broadcast journalism degree from Texas Tech University. Following his graduation, he was quickly hired by KLBK-TV in Lubbock, where he enterprised and broke numerous exclusive reports. His aggressive reporting in Texas helped garner him Best Reporter by the Associated Press.

Gary has been married since 1994 and is the proud father of two sons. When he's not helping viewers, Gary is busy catching up on his favorite college and professional football teams as well as cheering on his beloved Texas Tech Red Raiders.

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