Michelle Novy, REALTOR

Michelle Novy, REALTOR Welcome! I’m Michelle Novy, Your Arizona REALTOR®
Whether you’re buying your very first home or downsizing
to simplify your lifestyle, I’m here to guide you.

Let’s find the home that fits your life today—and for years to come. Buying or selling your home is a major life event, so you want to work with a real estate agent who will take the time to understand your needs before diving into the process. You are looking for an agent who is more concerned about your long-term satisfaction than closing a quick transaction. You want an agent who is knowledgeable, responsive, a good listener and a trusted advisor who has the backing of a well-established and reputable realty company like HomeSmart. And you want to work with someone who is both passionate about real estate and has expert knowledge of your market. As an Arizona resident since 1981, I consider you to be much more than a client. You are my neighbor whose genuine happiness with your home buying and selling experience is my main objective. When the time comes to buy or sell, you can count on my total effort.

Home Prices are Stable, Payments are Volatile For Buyers The best description for the housing market vibe this month is ...
09/22/2026

Home Prices are Stable, Payments are Volatile
For Buyers
The best description for the housing market vibe this month is disappointment. Average mortgage rates are front and center again, and not in a good way. After hovering around 6.75% for most of August, conventional rates shot up to 7.24% in less than 2 weeks in anticipation of the Federal Reserve raising the Fed Funds Rate. That is nearly a half percent increase, equating to roughly a 5% increase in a principal and interest payment.
Home values didn’t crash in 2023 or 2024 when rates were routinely over 7.25%, and market indicators do not support a crash in 2026. However, they may glide with less demand. Ironically, it’s not the rate itself that has caused such a sharp pause in buyer activity, because more homes sold in previous years with the same or higher rates. It’s the volatility of the rate. Buyers typically pause when the rate is actively rising or actively falling, waiting for it to find stability. This pause provides a window of opportunity for those buyers who can shoulder a higher payment temporarily and negotiate a better deal on the price or terms of their purchase. When rates decline again, they may refinance their home and enjoy a lower payment.

For Sellers
Higher mortgage rates are nothing new for the housing market, and the tools used to sell homes over the last 3 years are still effective today. However, sellers should be prepared for longer marketing times as the calendar approaches the holidays. It’s not uncommon to see a median of 50-60 days on market prior to an accepted contract in the 4th quarter. October is a very popular month for new listings, especially in luxury and retirement communities as the temperatures drop, but it doesn’t always coincide with a boost in demand. With this in mind, long-term tracking tells us consistently that properties that go under contract within 15 days of listing typically get 99% of their original asking price on average. Listings with 1-2 months on market average 95% of their original asking price, and those with 3-4 months on market average 90%. Buyers have consistently negotiated around 97-97.5% of the last list price for nearly 2 years, so the closer sellers can get to where the buyers believe the price should be, the faster they will get a contract close to asking price.
Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report ©2026 Cromford Associates LLC and Tamboer Consulting LLC

09/03/2026

Owning a home is one of the best ways to protect yourself from inflation! Rent typically goes up every year, but with a fixed rate mortgage, your biggest expense stays the same. Additionally, home values typically rise faster than inflation which means that you’re home is adding to your investment portfolio. Renters keep paying more with no return.

If you are ready to stop paying rent and start building wealth, let’s have a quick conversation. I’m always happy to help!

Michelle Novy, REALTOR®️
HomeSmart
8388 E Hartford Dr., Ste 100
Scottsdale, AZ 85255
480-330-1331





09/01/2026

The inspection period in Arizona is 10 days. During this time it is the buyer’s responsibility to schedule all of the inspections they would like.

When you submit your request for repairs keep in mind that a huge list of minor repairs could be a turn-off for the seller so pick your battles.

But, as a buyer’s agent there are some items that I always recommend the buyer ask to have repaired.

☑️ Termites. In Arizona, every house either has termites or is going to get them. It’s a relatively easy fix and important to have done before you close escrow.

☑️ Roof issues. Roof replacement can be very expensive. It’s important that the seller offer to repair, replace or offer a credit for roof repair.

☑️ HVAC. Summers in Arizona can reach over 115 degrees! Make sure the HVAC works well enough to keep you cool in your new home.

☑️ Sewer. In Arizona, the sewer line from the house to the street is the responsibility of the homeowner. After many years, the lines can corrode or get clogged with tree roots and it’s not an inexpensive fix. Make sure the seller agrees to repair, replace or give you a credit to have it done.

Your Realtor should be very specific about the repair they are requesting and always insist that a licensed contractor make the big repairs. Get receipts of completed work and any warranty information that transfers to you.

Call me if you’d like me to help you find your next home in Arizona. I’m here to help!

Michelle Novy, Realtor
HomeSmart
8388 E Hartford Dr., Ste 100
Scottsdale, AZ 85255
480-330-1331





Give me a call if you’d like to learn more about the pros and cons of new construction. I’m here to help.Michelle Novy, ...
05/18/2026

Give me a call if you’d like to learn more about the pros and cons of new construction. I’m here to help.

Michelle Novy, REALTOR®️
HomeSmart
8388 E Hartford Dr., Ste 100
Scottsdale, AZ 85255
480-330-1331





05/14/2026

Buying a house is an exciting time. The minute you go under contract you want to buy furniture, appliances, and new gadgets. Please take my advice and resist the urge to make major purchases until after you close escrow! Here are some other tips to get you to the closing table:

1. While you are in escrow, avoid opening additional credit cards or lines of credit. These things can impact your credit score, and your debt to income ratio, and possibly disqualify you from the loan.

2. Do not change jobs or become self-employed during the escrow period. You don’t want the lenders to have any concerns about your financial stability.

3. Make sure that you pay all of your debts on time during the escrow period. Late payments will affect your credit score. Which could affect the terms of your loan.

4. Make sure you have the funds available for your down payment and closing costs. Not having the funds available when it comes time to close could hinder the purchase.

5. Work closely with your Realtor, lender and Title Company and don’t be afraid to ask questions. Everyone involved in the transaction has your best interest in mind and wants to see you become a homeowner.

Michelle Novy, Realtor
HomeSmart
8388 E Hartford Dr. , Ste 100
Scottsdale, AZ 85255
480-330-1331




Address

8388 East Hartford Drive, Suite 100
Scottsdale, AZ
85255

Website

Alerts

Be the first to know and let us send you an email when Michelle Novy, REALTOR posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category