CactusCountryProperty

SALES Month over Month
Below are the stats supplied by Arizona Residential Multiple listing Service. As they come in, we have permission to send them out. This kind of information is so welcomed. Interesting that the bank owned property sales are only representing 38% of our market and I just have to think that short sales are going through the roof. Whatever it takes to get this market balanced. If you have real estate questions or needs please know I am a phone call or email away and would love to help you
Sales continue on a strong pace over the past three months. May sales of 9,077 represent a slight dip (2%) from April sales of 9,306. This trend follows a typical spring seasonal upswing pattern in sales activity. Nationally, sales, according to NAR’s most recent figures (April), show a gain of 1.52% year to date.
SALES Year over Year
Sales for May 2009 and May 2010 were virtually the same, a first for any month over the last
twelve. Last year the trend lowered in June after the spring upswing, only to remain flat through
the summer and take a plunge in November. The 2% dip in sales from April to May could be
reflective of this pattern repeating itself, but no other economic indicators signal that this April to May 2010 dip is the beginning of a downward trend.

NEW INVENTORY
New residential inventory declined from 13,871 in April to 11,717 new listings in May. The reduction in new listings added to the market since March represents is a healthy decline. Such a pattern affects the supply and demand ratio, which directly influences pricing. The downward trend may stay on course, or perhaps be affected by Sellers who will take advantage of the summer selling season to test the market.

TOTAL INVENTORY
As new inventory is declining, total residential inventory remains high with total residential inventory at the end of May at 41,326 units compared to 39,902 in May 2009. The total inventory trend remains relatively flat over the past twelve months, hovering below 40,000 twelve months ago to just above that level presently. Year over year it appears that total inventory for 2009-10 is stalled relative to 2008-09. However, the 2008-09 inventory had hit an unprecedented number close to 60,000, too high not to realize a sizable decline eventually.

LIST PRICES
The average list price in May was $220,900 which is a small (4%) but positive gain over the previous month. The median list price declined (slightly under 3%) from April to May to $136,000.The decline in the median price coupled with a rise in the average price indicates that there are more homes in the higher range that are making it to the market. Year over year the median list price remains fairly flat.

SALES PRICES
Average sales price remain virtually unchanged from April at $171,300. Median sales price for May however shows an increase over April from $127,500 to $130,000, an indicator that while additional higher end sales are coming to the market, they are not selling for as high a percentage of their list price as are the more moderately priced units. While not huge, it represents a 2% increase and continues a pattern of year over year price increases.

The ARMLS PENDING PRICE INDEX™
The ARMLS PPI™ predicts future average and median prices based on reports of pending sales
executed but not yet closed. The ARMLS Pending Price Index is available only through ARMLS, the sole aggregator of pending sales data.
The ARMLS Pending Price Index™ last month predicted that the median sales price for May would be $128,000. The actual May figure is $130,000, actualizing the upward prediction from the April forecast. In the near future, the ARMLS Pending Price Index is predicting a slight decline in median price in June, July and August, followed by a upward tick in September. The average price predicted last month for May was $173,000, and in actuality was $171,000.
The average sales price trend predicted by the ARMLS PPI™ for the rest of the summer shows an
up tick for June and July, a decline in August with an uptick again in September. Note that predictive accuracy declines the further into the future the prediction is made.

IMPENDING FORECLOSURES
Impending Foreclosures for Maricopa County for all property classes (residential, land and commercial) was 45,898 at the end of May. This represents a steady, yet slight downward trend since March. In contrast, the previous year’s (2008-09) impending foreclosures were on a significant upward trend from June 08 through May of 09. While the downward trend for the last three months is a good sign, it should be noted that the overall number of impending foreclosures is higher than at any time the previous year.

LENDER OWNED SALES
Lender owned sales (residential), which is sold inventory that the banks have taken back from the original borrowers, was at 3,430 in May, representing a much lower percentage (38%) of the overall sales in the market. This contrasts with the lender owned percentage of overall sales from a year ago of 62%. Clearly, the market is going in the right direction. As the lender owned percentage of overall sales declines, the influence of these distressed properties on median and average sales price also declines, inching us closer to a healthy market.
© 2010 ARMLS, may be reprinted with proper attribution.

AVERAGE DAYS ON MARKET
The average days on market (residential) in May, declined one day from April, to 96, showing only a modest decline and perpetuating the downward trend which started in March. Over time as the days in market decline, the absorption of excess inventory will increase, nudging us closer to a balanced supply and demand.

COMMENTARY
The Valley housing recovery at present seems content to move at its own deliberate pace, with its monthly gains and setbacks. While a monthly glimpse keeps our eye on the pulse of the recovery, longer term trends speak a more reliable truth. Speculation continues on the effects SB-1070 might have on the housing market. If many homeowners, regardless of nationality and immigration status, decide to sell or abandon homes in expectation of negative economic and social impact of this new law, the tenuous recovery could be undermined.
Signs are apparent that the Valley real estate is gaining ground in its recovery struggle. The decline in new inventory being added to the market hints that Sellers who are not serious are remaining on the sidelines. The sold unit trend has continued to climb since January. The slight dip in sold units from April to May is a somewhat positive sign, since a much greater decline would have seemed logical when the first time home buyer credit went away. Its absence caused very little change in the total sold units.
Most notable is the much lowered percentage of lender owned sales relative to total sales, coupled with the decline in impending foreclosures. The proliferation of foreclosure sales wreaks havoc upon pricing. Thus, a slowing of impending foreclosures which feed the total number of lender owned sales is a trend that signals a future recovery
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

So far, 2010 has been a better year for the housing market in Phoenix and surrounding areas of Arizona. In a month’s time, sales on 7093 properties have closed, and inventories are up 1% since the last market break down report. As of March 15th, there were 27,594 active listings.

It appears that sales are well ahead and the market continues to improve over 2009. Pending sales have increased by more than 40% since the first of this year, which will really increase the number of closings over the next couple of months. As of March 15th, there were 27,594 single family dwelling detached homes for sale. With 7093 homes closing in the last 30 days, the current market supply is 4 months.

In Phoenix, there are a total of 5,681 active listings and inventories are up 1% since last report. There have been 1629 closings in the last month, which is about a 3 1/2 month supply. Slightly ahead of Phoenix is the West Valley area, the most robust in this market currently. West Valley, comprised of Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye and Tolleson, had 6,489 active listings at the time of this report and 2118 closings, about a 3 month supply.

The Southeast Valley of Tempe, Mesa, Gilbert, Apache Junction, Queen Creek and Chandler came in third place, with 6,289 active listings for the time period and 1676 closings, putting this region at about a 3 3/4 month supply. The Northeast Valley (Scottsdale, Paradise Valley, Fountain Hills, Cave Creek and Carefree) remained unchanged from the last report having 4,212 active listings and 560 closings, which is about a 7 1/2 month supply.

In Scottsdale, there were 354 closings in the under $1m market and 1981 active listings, and 53 closings in the over $1m market, where there were 965 active listings. Inventories were down 4% since last report in the over $1m market, and up 2% in the under $1m market.

In Paradise Valley, inventories remained unchanged since last report, with a total of 452 active listings and 28 closings over the past month, which is about a 16 1/4 month supply.

Lets hope this trend keeps up, and the housing market in Phoenix and surrounding areas continues to show improvement. This is great news for our communities, home buyers, and those in the market to sell their homes as well!

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

Selling Real Estate in Phoenix – Reasons You Should Consider a Short Sale

When you are looking to sell a home in the Phoenix Arizona area, you may want to consider contacting a reputable realtor to learn about the benefits of a short sale. Current economic conditions have led to fewer people purchasing homes, which makes it more difficult when you want (or need) to sell. If you find yourself in financial straits and paying your mortgage is a problem, this may be a viable solution for you.

No one wants to go the foreclosure route. Not only can it be embarrassing, it destroys your credit and ability to make any substantial purchases in the near future. When a short sale offer is structured and negotiated properly, there is often no need for the seller to wait for the buyer to obtain financing or make repairs while every minute that goes by is bringing you closer to bankruptcy. Some people don’t even consider a short sale because they have heard that the process takes forever. In some cases it can, but a qualified and highly experienced Phoenix real estate agent can help you avoid much of the red tape so that the transaction is handled as smoothly and swiftly as possible.

Another benefit of short sales is that you, as the seller, do not have to spend money you do not have trying to “fix up” and repair. These things are typically handled by the seller, but in this instance a home is frequently sold as is, which means the buyer will be responsible for making any changes they desire to the home.

A short sale does affect your credit rating, but usually isn’t nearly as devastating as bankruptcy or foreclosure. By going this route, you will most likely be able to purchase another home in just two short years, whereas with bankruptcy or foreclosure your credit is completely obliterated, and it is normally about five years before you can purchase again.

Finances and money are tough issues for many people today, and paying your mortgage can often become a burden that is too much to bear. If you live in Phoenix and surrounding areas and are looking to get out from underneath your mortgage, contact a well seasoned and knowledgeable Certified Distress Property Professional Realtor to help you determine if going the short sale route may be the answer to your prayers.

 

While going through foreclosure is tough on the property owner, in Phoenix you will find it the perfect opportunity to invest in real estate.  If price is a real concern for you, recent economic woes make this a great time to get a bargain.  A reputable Arizona realtor can help you locate properties that suit your needs as well as your budget.

Unfortunately, some homeowners feel that if they cannot keep their homes, they don’t want the bank to have it either.  What this sometimes leads to is damage of the property.  Some people feel that if they do some damage to the home, no one else will have it either.  However, reduced prices on real estate that fits this description allow you to get a steal.  By doing a little work to the home, you can resell at a tremendous profit.  One thing there is no shortage of in Phoenix is affordable properties!

Sometimes the disrepair of the homes is not a direct result of the owner purposely doing damage.  Often times, if they could not afford the mortgage payment they could not afford to repair the roof or make other repairs that needed to be done.  Many real estate properties in Phoenix make great investments, and you can find a wide variety in various states of disrepair.  This shabbiness is one reason the price may be so low.  Another reason may be that the lender simply wants to recoup their investment in the property, which is why they are often willing to take less than what the actual value of the property is worth.

Even though you may find foreclosed real estate that have varying degrees of damage, the repairs are often not costly to make.  If you are looking for a beautiful home for your family or to simply invest in, many feel it is worth their time and energy to make as many of the repairs as possible themselves.  This will also help you save money.  When you consider that you may save tens of thousands or even hundreds of thousands of dollars on the real estate you choose, making a few repairs usually does not factor in to the decision too much.

Which would you rather do; spend $500,000 on an investment property or family home, or spend $350,000 and make a few repairs yourself?  For most people, the answer is obvious.  When you are ready to learn more about available foreclosure properties in the Phoenix area, contact an experienced and reputable Arizona realtor to help you find the perfect piece of real estate for you.  It will be money very well spent.

As everyone knows, homes and real estate in the Phoenix and surrounding areas have dramatically decreased in price over the past several months.  While this makes it the perfect time for buyers to get the home of their dreams or invest in real estate, an important part of making the process successful is the real estate agency you choose.

When you are in the market to buy or sell property, a dedicated realtor will work very hard each and every day to satisfy your needs.  Buying a family home or real estate is a big step for anyone, and probably one of the biggest investments you will ever make.  Although it is a happy times, it is often a very stressful process as well.  Finding an experienced Arizona realtor will help insure that everything falls in place, and reduce much of the stress for you.

A good realtor upholds the highest ethical standards, and has a thorough understanding of the intricacies and nuances of the Phoenix market and surrounding areas.  Whoever you choose should aggressively advocate your best interests, and remain fully accountable to you.  You want the person handling your interests to be unafraid to negotiate in your behalf in order to get the very best deal possible for you. If your most important goal is to find a home for your family or to plunge into real estate for investment purposes, you want the expertise of an agent who has extensive knowledge of the area.  The real estate agent you choose should be willing to spend time every day reviewing Phoenix real estate options for you, as a client.  In doing so, this means that the more properties an agent previews for you each week, the better understanding you have of the true values of the communities in the area. Being armed with this knowledge will allow your agent to easily match you up with the best real estate, new home, multifamily property or condo for your needs.  A realtor who has many years of experience in the market and a vast knowledge of the area is important because this helps them give you sound real estate investment guidance.  You can avoid going into any situation blindly by having someone with a solid reputation behind them to assist you.

If you are considering a new home or property investment in the Phoenix area, make sure to find a reputable Arizona realtor to assist and guide you.  This will insure that the process is much less stressful and streamlined, and that you get the very best deal for your investment.

If you are thinking of making Phoenix Arizona your home, there has never been a better time to buy!  An experienced real estate agent can help you find the perfect home for your family, and assist you with every transaction.  This will help ease the stress and make your search much more pleasurable.  Why is it such a good time to purchase a home?  There are several reasons.

First of all, due to the economy prices are coming down dramatically.  Buyers can now afford a home in Phoenix that would have been out of their price range just a few years ago!  Banks want to lend money to buyers who qualify, and interest rates are low.  Arizona is an exceptional place to live and work, and is now the 5th largest city in the United States.  Pressure remains on the demand for re-sale homes, and very little land is available for the building of new housing.

There are also some great tax breaks for many who purchase a home in the area.  This is a beautiful, sun-filled city that has become a prime destination for home owners.  Hiking, biking and plenty of golf is available for those who love the outdoors.  This is the city where it seems the sun shines 24 hours a day.  Another attractive fact about this area is that the unemployment rate is moderate.  A reputable Arizona realtor will help you find the home of your dreams and help you get the best deal possible on your investment.

The average price of a single family home in Phoenix is about $142,000, and prices are trending downward.  With the low interest rates now available to qualified buyers, monthly mortgage payments are extremely affordable.  If you have ever dreamed of living in home that is perfect for you in this beautiful, activity-filled city now is the perfect time to buy.  This is the opportune time, and buyers have leverage to choose the home they truly love and can afford.  Consider this fact – if you wait until you hear through the media that home prices have stabilized, you will already have missed your perfect opportunity!

If you are considering a move to the gorgeous and highly popular state of Arizona, don’t wait until it is too late.  Contact a reputable Phoenix real estate agent with the knowledge needed to get you the home you have been looking for, at a great bargain!  Remember, the time is now.

Phoenix Arizona is one of the most popular cities in the United States, and it’s no wonder.  If you are considering a move, contact an experienced and reputable real estate agent now, while the time is right.  There has never been a better time to buy!

This beautiful area is full of opportunities, and is the perfect place for your family.  There is never a shortage of things to do with activities for the entire family to enjoy.  Golfing, hiking, biking and just a few things you can enjoy in our gorgeous warm weather.  There are plenty of recreational parks and things to do at night as well. 

In Phoenix, it seems like the sun never goes down. Why should you consider Phoenix if you are considering buying a home or property?  Supply and demand are leaning in your favor right now.  Prices are super low, and the number of homes available is climbing.  Interest rates are low, and banks are ready to lend if you qualify.  A realtor that is familiar with the area can help you find homes and properties that are perfect for your family.

Another positive about this area is that the unemployment rate is moderate, and Arizona is a prime area to live and work in.  Also, there are currently some great tax breaks for buyers.  The area is one of the prime destinations in the United States for many reasons.  Beautiful landscapes, lots of activities and home prices that are lower than we have seen in years are a few reasons so many people call Phoenix home.

When you are considering a move for your family, there are many things you want to know.  An Arizona realtor that knows the area well and has represented buyers for years can help you choose the right neighborhood with all of the amenities you are interested in.  They can give your information about schools, shopping, crime rates

and more to help you make a well informed decision. Are you considering a move for your family?  Phoenix Arizona is a prime destination.  Check with an experienced real estate agent who can give you information about inventories available, price trends, and other crucial information that will give you an indication of how the value of your home will hold up.  This is one of the most important decisions you will make in your life, so make sure you choose the right realtor.

So You Love Golf, Hiking, Biking & Being Outside Most Of The Year ,Phoenix and Scottsdale Arizona is a Good

Move for Those Who Love Fun in The Sun And The Prices Are At Their Lowest. Okay Want To Retire To The AREA

but Can’t Right Now, Buy and Rent it  Out With Cash Flow Until The Time Is Right
It’s all we have been hearing for months now – real estate market, foreclosures, a weak economy, etc.  While the

news is bleak for homeowners struggling to pay their mortgages, the bottom line means good news for you if you

are in the market for a home.  Phoenix Arizona is a prime destination for those who love lots of outdoor activities

and beautiful sun-filled skies almost year round!

Phoenix offers homes for every need and lifestyle.  Whether you are in the market for a spacious luxury home, a

charming restored home or a modern condo, you won’t have a problem finding one you will fall in love with.  An

experienced realtor will make the entire process easy and seamless, by handling the negotiations and helping you

remain stress free.

Because of the economy, home and real estate prices are much lower than recent years.  This gives you, as the

buyer, an opportunity to purchase the home of your dreams at a fraction of the price you would have paid two

years ago.  Some properties are perfect for people who like “fixer uppers”, and others require little to no work to

be ready for you and your family.

Phoenix is a city brimming with activities for all members of the family.  If you are a golfer, you will be in paradise!

 We have an abundance of world-class resorts, golf courses and spas.  Sports activities are plentiful as well.  The

beauty of the city alone is enough to make you want to stay, regardless of the activities offered.  The rustic hued

mountains that provide the back drop for the city are breath taking!

This particular area is one of the top destinations for travelers, as we average over 325 sunny days per year. 

The low humidity and blue skies make this city an absolutely perfect paradise in which to enjoy your life and

family.  When you decide you are ready to purchase a home or real estate, an experienced real estate agent can

help you make easy work of it.

Although Phoenix is known for perfect weather and sunny skies, it is also an extremely romantic destination. 

Visit Jazz in the Garden at the Desert Botanical Garden for some of the best jazz you will ever hear!  The nightlife

is great for those who don’t necessarily want to go to the house when the sun goes down.  If you are interested

in relocating to one of the most desired cities in the world, contact an Arizona realtor with vast knowledge of the

area and the market.  It will definitely make your life easier!

For months now, we have all seen the headlines. Home prices are decreasing, no more zero

down loans, etc. Does this mean there is no good news in the Phoenix Arizona area?

Absolutely not! Amidst all of the doom and gloom, there actually is a silver lining for

those who look for it.

Prospering real estate investors will view the current market as a prime opportunity.

New investors may not be able to look at things in this light, but a heavyweight will

definitely see how these unfortunate circumstances can work to his advantage.

In Phoenix, the time has never been better to snap up real estate to invest in. Home

prices are at all time lows, making it an opportune time to buy at an unheard of price.

Homeowners can no longer afford their mortgages and foreclosures are still rising. If

you have money to invest, you are missing the best opportunity you may ever have to

purchase Phoenix properties at a bargain.

This is an extremely beautiful and popular area, with a population that rises every year.

Arizona is prime property for retirees, because of the climate and low humidity level.

When you invest in properties in Phoenix, you can be sure that you will turn them around

in to big profits in the coming years.

Experienced real estate investors know how to look for the best deals; they also know

that purchasing property in just any area isn’t a smart idea. If you are investing in

rental properties, you want an area where homes don’t sit empty very long. These are

usually areas that are close to schools, jobs and shopping. Homes in these areas

normally do not stay vacant long.

Phoenix properties are a prime investment for those who know their business well. If you

make a living as a real estate investor, contact an agent with the knowledge and

expertise to know which areas are the best deal for your money. The current economy,

although frightening to many, has made it an investors paradise. Talk to your Phoenix

realtor today.

When you are ready to purchase your dream home or want to invest in real estate, hiring a Phoenix realtor who has plenty of experience is essential. Not only can they find properties that are within your budget easily, they can also help take much of the stress off of you. Here are some other reasons hiring a Phoenix real estate agent is so important.

There are many concerns when it comes to investing in your future home or property. If you have a family and children, the concerns are even greater. Schools, neighborhood safety and comparative home values are just a few of the areas you will have questions about. A reputable Phoenix realtor can answer any questions you may have about Scottsdale, Mesa and Glendale as well.

When you are interested in purchasing a home, there are many things the average person knows nothing about. The inspection period is one of those things. This may be the most complex and important part of the whole buying process in Arizona, and you need to know how it works.

If you decide to purchase a home in Arizona, you have a great opportunity to investigate the home thoroughly before making a decision on whether to go forward with the purchase. Your Phoenix real estate agent knows all about this inspection period and can help guide you through. You don’t want to miss the deadlines or mismanage your opportunities!

Actually, when you choose a dependable realtor they can handle the whole process for you. Here are a few notes about the inspection period:

During the inspection period, the buyer has the right to accept the home in the condition it is in. You may also want to cancel the contract, or give the seller an opportunity to fix the problems found during inspection.

When the buyer wishes to request that repairs be done, they will use the “Buyer’s Inspection Notice” form to let the seller know about the repairs they are requesting. There is a time limit on these things, which adds to why you should hire a well seasoned Phoenix real estate agent to handle this for you.

The seller also has limited time to reply. They may agree to make the repairs you request, agree to repair a portion of the damages or refuse to make any repairs at all. At this point, there are some options left for the buyer. All of this is enough to give many people a huge headache, and is really better left to someone who has experience in handling tasks like this.

When you get ready to purchase a home or property in Phoenix or the nearby area of Scottsdale, Glendale or Mesa, get professional help. When you hire a knowledgeable realtor in Arizona, it makes your life much easier.
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties