A Note From Me from August 2026

A Note From Me

Real Life Monopoly

Nothing has given me greater pleasure this week than losing at Monopoly Junior.

Margot and Hunter don't fully understand money yet. Like most kids—and honestly, many adults—they believe cash is king. But Bluey's version of Monopoly has introduced them to something much more valuable: the idea that owning real estate creates opportunity.

As the game unfolded, I landed in financial trouble...repeatedly.

Each time I went bankrupt, they happily extended me another loan to keep me playing. They weren't interested in beating me. They wanted everyone to stay in the game.

By my fifth bankruptcy filing, I finally surrendered.

As I sat there laughing, I couldn't help but think about how closely Monopoly resembles today's housing market.

The Long Game

Real estate has never been about winning every turn.

Sometimes you're buying when interest rates are higher than you'd like. Sometimes you're selling for less than you hoped. Sometimes you're waiting for the right opportunity while watching everyone else seem to move ahead.

Those moments can feel like losses.

But history has consistently rewarded the people who stayed invested—not the people who waited for perfect conditions.

That's a lesson I want my children to understand long before they're old enough to buy their first home.

Teaching children to budget and save is important. Teaching them that a home can be an appreciating asset that builds wealth for decades may be even more valuable.

Whether that means living at home a little longer to save a larger down payment, purchasing a first home sooner rather than later, or understanding how rental property can create long-term income, these are conversations that can change the trajectory of an entire family's future.

The Other End of the Board

While my kids are just beginning to learn about wealth, another generation is preparing to pass it on.

Over the next two decades, an estimated $124 trillion is expected to transfer between generations. Much of that wealth is tied up in residential real estate.

What many families don't realize is that they may inherit the home—but they also inherit the responsibility that comes with it.

Today's retirees are carrying mortgage debt at much higher rates than previous generations. That means heirs may suddenly find themselves responsible for navigating existing loans, estate documents, trusts, taxes, insurance, and difficult family decisions during an already emotional time.

Estate planning today isn't simply deciding who receives the house.

It's creating a plan for who keeps it, who pays for it, and how that transition happens.

Those conversations are often uncomfortable—but they're far easier to have around the kitchen table today than during a family crisis tomorrow.

Meanwhile...Back in Today's Market

While many buyers continue waiting for mortgage rates to fall, the market tells an interesting story.

Approximately 78% of homeowners currently enjoy mortgage rates below 6%, making many reluctant to sell.

Today's rates around 6.8% feel expensive, yet they aren't stopping everyone. In fact, when rates briefly dipped below 6.5%, contract activity immediately increased. The demand is still there.

Luxury buyers certainly haven't stopped.

Sales over $3 million are up significantly this year, and sales over $10 million have already surpassed last year's pace.

Here in Phoenix, we're simply experiencing a market that rewards realism.

Homes that are priced appropriately, presented beautifully, and move-in ready continue to sell.

Listings that chase yesterday's prices are sitting longer, especially as we head toward the fall market when new inventory traditionally arrives. Sellers who truly want to move will likely become more flexible as competition increases.

This isn't 2007.

I began my real estate career during that housing crash. Today's market is fundamentally different. Homeowners have substantial equity, lending standards remain much stronger, and inventory conditions simply aren't comparable.

Staying in the Game

Whether you're six years old playing Monopoly Junior or planning your family's financial future, the lesson is surprisingly similar.

Real wealth isn't created by avoiding every setback.

It's created by making thoughtful decisions, adapting when circumstances change, and staying in the game long enough for time to work in your favor.

If you'd like to talk about buying, selling, investing, estate planning, or simply understanding where today's market is headed, I'd love to help.

Because unlike Monopoly...

Real estate isn't won with one lucky roll of the dice. It's built one smart move at a time.

Warmly,

Kendra Harrison
Real Estate Advisor
GetRealAZ.com