National Interest in the Copper State

Andrew Turley - Phoenix, AZ

Bill Gates’ real estate group just made a large investment in the northwest corridor of Phoenix Metro to the tune of $80 million for a swath of land covering 25,000 acres for future development of a “smart city”. This has spawned great local, regional, and national interest in the great state of Arizona. In-fill projects, new development, and remodel activity continues to be strong for Phoenix Metro with an emphasis on market areas close to infrastructure. Design styles trends are shifting toward a more outdoor/indoor or “lanai” living concept whereby the fenestration or natural light of larger windows and doors invite the occupants to enjoy the outdoor experience. Recent construction also has skewed toward walls or arcadia doors that pivot or slide completely open to the outside living areas.

The current median home price for the city of Scottsdale is $572,914, up from the previous year’s price of $528,689. There were 700 total sales last month, a slight increase. The average number of days on market was 89, remaining steady month-over-month.

Andrew Turley – Phoenix, AZ

Andrew Turley has been an appraiser in Maricopa/Penal area of Phoenix for 15 years. As an appraiser Andrew has an overarching goal; to produce and share accurate data within the real estate/lending industry to ensure he is doing his part in stabilizing the economy in regards to residential property values. His reputation for producing extremely thorough and accurate property assessments has led to Andrew being asked to direct and manage a national fraud and loss mitigation review project, provide expert witness legal testimony in Federal Bankruptcy Courts, and to appraise and consult on the three of the highest-assessed and valued residential properties in all of Arizona

Between Two Worlds

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The housing market is a complex web. Its strands stretch across the nation, a fabric woven from the thousands of transactions that happen every day. It can be easy to get caught up in it, to lose all sense of direction, to get stuck.  
 

But Andrew Turley knows how to find his way forward. 
 

To understand the market – really understand it – he pulls on each of these threads. From his office in Phoenix, Arizona, Andrew spends his days untangling these data points from each other, revealing key market insights others often miss.  
 

“I’m always gearing up, using better data. We’re not playing around.”  
 

For the last 15 years, Andrew has been determined to unlock the information that guides the market in Maricopa County. Pitch him a simple question about the area’s health and, instinctively, he rattles off the current trends and stats like they’re common knowledge.  
 

Mixed-use projects? They’re going up.  
 

The homes themselves? A smaller footprint. But at the same time, enjoying better design, with energy efficient construction, bigger floor plans, and more natural light.  
 

There’s been more change in the last two years than in the 10-year period before them.  
 

“Style is accelerating,” reveals Andrew. “We’ve noticed the predominant interior design is changing much faster than it used to. And thanks to pop culture, our country’s obsessed with real estate.”  
 

Over the years, Andrew has earned a reputation for producing extremely thorough and accurate assessments, leading him being highly sought after for his expertise. He has be asked to manage a national fraud and loss mitigation review project, provide expert legal testimony and appraise some of the most valued residential properties in Arizona.

Needless to say, if the country has a fascination with real estate, it is imbued in Andrew as well.  
 

Before becoming an appraiser, he was drawn to understanding the human mind. A freshman at Arizona State University, Andrew enrolled as a psychology major. The program’s website boasts it is one of the top of its kind in the country, where students, “gain insight about themselves and others while learning about research methods, conducting scientific inquiries, and building critical thinking skills.”  
 

Your view will forever be transformed, promises ASU. And Andrew’s was, albeit in a slightly unexpected way.  
 

“I wasn’t interested in psychology to help people get over their fear of flying, but rather, how do the bulk of people interact?” he recalls thinking during his college days. “What are the motivations behind people’s choices? What do they value, and how can you test for that?”  
 

As questions of behavior were ricocheting across young Andrew’s mind, his appreciation for real estate continued to grow. Not wanting to go into practicing or teaching, the question inevitably came up: could he combine his interest in people with his passion for real estate, and make that into a career?  
 

Andrew tugged at the thread, wondering where it would lead him. Eventually, he found the answer: appraising.  
 

In appraising, Andrew discovered a profession that not only let him work on a flexible schedule, but one that encouraged him to blend his analytical mindset with his curiosity for the human condition.  
 

He is part of a new generation of appraisers, one that is turning the ubiquity of the digital age into a competitive advantage. As an appraiser, Andrew has a single overarching goal: to produce and share accurate industry information. It’s a part of the job he takes seriously, especially following the market crash of 2008.  
 

To bolster his reports, Andrew is constantly seeking out new information that can help tell the story of the market in a more detailed and precise way. In addition to his own work, he also subscribes to a number of services that help him stay on top of the latest trends.  
 

“As more people are interested in real estate, that raises the bar for appraisers to meet when customers want to buy a new house or remodel,” said Andrew.  
 

One of those services is The Cromford Report, a daily digest operated by Mike Orr, the director of the Center for Real Estate Theory and Practice in the W.P. Carey School of Business at Arizona State University. For years, Mike has been tracking the trends and history of the residential resale market in the Greater Phoenix region, and giving appraisers like Andrew a boost.  
 

“Every one of my reports includes metrics from him,” said Andrew. “He puts together reports that segment 30 different metrics per zip code. It’s incredible!”  
 

Other resources he’s used in the past include The Data Quick News, along with US Census Bureau data. After pulling together all of these intel, Andrew applies his own segmentation and analysis of the market.  
 

“For me, the question is always: how can I better mine the data? What software can I use? You can either stay the course, or take your time with analysis and submit a better quality report.”  
 

But market statistics will only reveal part of the picture. In addition to the data, he also maintains a robust network of contacts: clients, homeowners, agents and other appraisers. Together, they fill in the gaps.  
 

“That’s why having a good network of agents is so important. You have to build those relationships,” said Andrew. “They’re privy to information that you would never find elsewhere. They’ll point you to what’s going on behind the scenes.”  
 

Blending the two worlds together, the digital and the personal, reveals a more complete picture.  
 

“You still have to get anecdotal information. I’ll talk to homeowners. I’ll call the agents and ask, ‘What are you seeing in the market? Are your clients sensing the same sort of info?’ More often than not, together that data will lead you in the right way,” he added.  
 

Thanks to his dedication and hard work, Andrew has been awarded the Extraordinary Appraiser distinction by Solidifi, recognizing his outstanding performance, customer service, and commitment to quality.  
 

“It’s pretty damn rewarding,” exclaimed Andrew recalling when he first learned he’d received the award. “As an appraiser, it can sometimes feel like we’re lone wolves, grinding it out. When you find a client who understands why you’re different and what makes you exceptional, there’s no monetary bonus that can equate that.”  
 

For those appraisers who continue to push themselves to reach the same extraordinary level, Andrew offers this advice.  
 

“No one was born with the Crown of Knowledge. Get comfortable being uncomfortable. You’ve got to push yourself and be open to change. Try new software to offset manual labour, meet up with local appraisers, grow your network. The only reason I got to where I am is because I got kicked by better appraisers in the effort to get better.”  
 

As far as he’s come, Andrew knows there’s still much to be done if he’s going to continue doing his part in the industry, providing the best possible reports. That means sifting through more information, meeting with more clients, and unravelling more threads.  
 

“The conundrum with appraising: we’re always looking at the past, not the future. I would love to see more forecasting in the industry, but to do that you’ve got to dig deeper into the data,” said Andrew.  
 

“What’s the point of always looking backward?”

Tech Giants Make the Case for Phoenix

Andrew Turley - Phoenix, AZ_R_1000x53

The Phoenix Metro area continues its robust population growth. Thanks to a variety of dynamic and diverse sectors bolstering the local economy. Healthcare, manufacturing, technology, and a burgeoning software nice are all contributing to the area’s strong and growing economy. While Phoenix was formerly quite dependent upon real estate and tourism, that is no longer the case as industry giants like Google, Amazon, and Uber flock to the area. Intel, the microchip maker, recently announced a multi-billion dollar plant in nearby Chandler that will bring countless jobs, as well as the construction, infrastructure, and development to go along with them.  
 
Class A multi-family development continues its upward swing in the area, while new construction has seen a shift in trends to an emphasis on “outside/inside” living spaces, better fenestration, and different design styles in demand, including transitional, warm-modern, and California-coastal. The current median home price is $529,657, up nearly $300 from a year ago, while the number of homes sold has also increased month-over-month to nearly $700 in September. The average number of days of market also fell from 103 to 97 days.

Andrew Turley – Phoenix, AZ

Andrew Turley has been an appraiser in Maricopa/Penal area of Phoenix for 15 years. As an appraiser Andrew has an overarching goal; to produce and share accurate data within the real estate/lending industry to ensure he is doing his part in stabilizing the economy in regards to residential property values. His reputation for producing extremely thorough and accurate property assessments has led to Andrew being asked to direct and manage a national fraud and loss mitigation review project, provide expert witness legal testimony in Federal Bankruptcy Courts, and to appraise and consult on the three of the highest-assessed and valued residential properties in all of Arizona.

New Construction Signals A Paradigm Shift in Arizona

Andrew Turley - Phoenix, AZ

Gentrification is taking place in markets with proximal location to infrastructure and in-fill. Meanwhile, there is a paradigm shift to more transitional, soft-modern, and classical-modern style homes in terms of new construction and remodels. Areas seeing the highest demand are Central Phoenix, North-Central Phoenix (Uptown), East-Central Phoenix (Camelback Corridor), and Central Scottsdale. Year over year the median sale price rose 6% in December 2016 to $283,954 vs. $267,647 in December 2015. Comparing market figures in December to two months ago, home sales dropped to 6,127 vs. 8,110; inventory has increased which is putting modest downward pressure on the market; while the average days on market is up slightly to 78 days vs. 73 days.

Andrew Turley, Phoenix, AZ

Andrew Turley has been an appraiser in Maricopa/Penal area of Phoenix for 15 years. As an appraiser Andrew has an overarching goal; to produce and share accurate data within the real estate/lending industry to ensure he is doing his part in stabilizing the economy in regards to residential property values. His reputation for producing extremely thorough and accurate property assessments has led to Andrew being asked to direct and manage a national fraud and loss mitigation review project, provide expert witness legal testimony in Federal Bankruptcy Courts, and to appraise and consult on the three of the highest-assessed and valued residential properties in all of Arizona.