http://valleymarketblog.com/index.php/site/index/ Arizona Valley New Homes in Phoenix and Maricopa en brian@valleymarketblog.com Copyright 2010 2010-06-12T08:55:42-08:00 http://valleymarketblog.com/index.php/site/sweet_virtual_tour_for_my_listing_in_a_gatedactive_adult_community/ http://valleymarketblog.com/index.php/site/sweet_virtual_tour_for_my_listing_in_a_gatedactive_adult_community/#When:08:55:42Z 20953 N GET AROUND DR Maricopa, AZ 85138 $274,990 Cross Streets: SR 347 & Smith Enke Road Directions: Enter Province from Smith Enke, please check in with gate guard. Take 1st left on Jubilee,R on Sweet dreams, L on Get Around Not a short sale,not a foreclosure. Get an answer within a day, not a week or month. This Gardenia model shows better than a model. This home is loaded with options including granite, hardwood and tile flooring,security system,highly upgraded insulation for energy efficiency,huge master walkin closet and so much more. With over 50 acres of plush green grass and lakes, this community offers a vast variety of activities fit for people of all abilities. Province features tennis, bocce, basketball, swimming, and of course the ability to relax in a tranquil environment. With the partnership of the Duke Golf Course, located across the street from Province, home owners are offered many different membership pricing to enjoy golf year around. Please check out the virtual tour! Virtual tour 2010-06-12T08:55:42-08:00 http://valleymarketblog.com/index.php/site/website_has_been_made_a_google_favorite_place/ http://valleymarketblog.com/index.php/site/website_has_been_made_a_google_favorite_place/#When:05:22:25Z Pretty exciting. Apparently less than 1% of websites make the grade. Google has now given me a QR code (quick response code) so techies can access my website directly from their cell phone 2010-06-11T05:22:25-08:00 http://valleymarketblog.com/index.php/site/model_home_furniture_sale_this_weekend/ http://valleymarketblog.com/index.php/site/model_home_furniture_sale_this_weekend/#When:06:38:02Z Date: Friday June 04, 2010 & Saturday June 05, 2010 Time: 8 am - 6 pm Builder: K Hovnanian Homes - FRIDAY ONLY Community Name: Courtyard @ The Willows - 1 1/2 Models City: Gilbert - 85295 - FRIDAY ONLY Cross Roads: Williams Field and Recker Roads Directions: East on 202 Freeway through Chandler & Gilbert pass Williams Field Road to Higley Rd. make a right (south), to Ray Rd. make a left (east) to Recker Rd., make a right (south) to Oakland St. make a left (east), thru rounabout to Pheasant Dr. make a right, models on right. East on 202 Freeway through Mesa pass Power Rd. to Higley Road make a left (south), follow directions above. Addresses: 4151 and 4153 S Pheasant Drive. Inventory: FRIDAY ONLY - Partial sale. Lots of lamps. Many styles to choose from. Accessories & plants. Some furniture pieces, limited amount. Cash and Carry - (No Checks) - All Sales Final 2010-06-03T06:38:02-08:00 http://valleymarketblog.com/index.php/site/i_have_2_new_listings_hitting_the_market_this_week/ http://valleymarketblog.com/index.php/site/i_have_2_new_listings_hitting_the_market_this_week/#When:06:01:23Z Number 1, Great looking bungalow style home in the highly acclaimed subdivision of Province in Maricopa. The home is decked out to the max with upgrades and the community is loaded with amenities including 24/7 manned gated security, indoor/outdoor pools, fitness center, library, performing arts studio, and 50,000+sqft clubhouse. The home is located in Maricopa, AZ, and the area was rated the #1 active adult community in the US in 2006. This is a 55+ community, but the home owners association allows 20% of the owners to be between 40-54 years old. At last check, the number was below 15%, so 40+ isnt an issue. Please contact me for extra pictures and pricing. BrianPetersheim@aol.com 602.206.9644 Number 2 Is a beautiful tri-level home 3 bedroom+office+den+entertainment room at the base of Piestewa peak (Squaw Peak mountain in Phoenix) The home rests on the largest parcel of land in the subdivision, over 1/2 acre. The home also features 2 fireplaces, a 4 car garage and a tennis court in the back yard. The lot actually sides to the mountain and offers 360 degree views year round. Please contact me for extra pictures and pricing. BrianPetersheim@aol.com 602.206.9644 Pictures of both properties will be available in the next few days! 2010-06-01T06:01:23-08:00 http://valleymarketblog.com/index.php/site/phoenix_home_sakes_update_showing_trends/ http://valleymarketblog.com/index.php/site/phoenix_home_sakes_update_showing_trends/#When:07:24:22Z Phoenix home sales show promising trends Long-term buyers return by Catherine Reagor - May. 22, 2010 12:00 AM The Arizona Republic April figures for existing-home sales in metro Phoenix reveal several promising shifts for those searching for signs of a housing-market recovery. The overall number of home sales in the region continued to hover near record levels last month. Beneath the sales figures were other encouraging numbers: • Foreclosures did not dominate sales of existing homes in the Valley for the first time in more than a year. • The number of investors purchasing homes from lenders dropped. • More buyers purchased homes with the intent of living in them. • More buyers financed their purchases with long-term mortgages. April sales included the last wave of first-time buyers who rushed to buy before a federal tax credit expired. Many did not want to purchase foreclosure homes. More than 1.8 million people nationally, most of them first-time buyers, used the tax credit to purchase homes, according to early government- and housing-industry estimates. The figures haven't been broken down by state yet, but Phoenix-area real-estate agents have seen a significant increase in first-time buyers. The return of average buyers to the market suggests more people are buying for the long haul rather than for a quick resale. The shift away from foreclosures also means more Valley homeowners were able to sell their houses last month. "It appears foreclosures may have finally made their downward turn," said Tom Ruff, analyst for real-estate-research firm Information Market. "The number of home sales might drop now, but prices could go up." The uptick in first-time buyers may be temporary. But the shift from a market dominated by foreclosures and speculative buying may be more lasting. Foreclosures and pre-foreclosures in the Valley also fell in April. So far in May, the number of bank-owned home sales is down compared with April. Ruff calculated April's buyers and sellers through an analysis of property records. Bank-owned foreclosure homes accounted for about 33 percent of all Valley home sales last month. Foreclosures accounted for more than 50 percent of Phoenix-area home sales during 2009. These new trends could mean there are more long-term buyers vs. short-term speculators buying homes in the Valley now, which could lead to home-price increases in the future. Here's the breakdown of metro Phoenix's 8,955 home sales in April: • Only 650 were new-home sales, and the median price of those houses was $213,483. • Regular sales of existing homes totaled 5,287. The median price of these houses purchased from homeowners was $150,000. • The remaining 3,018 home sales from the tally were bank-owned foreclosures, which had an overall median price of $106,000. • The overall median price for all homes sales was $135,000. • About 34 percent of all homebuyers paid cash. • About 15 percent of all homes were purchased by investors who signed real-estate documents saying they intended to rent the property to tenants. A year ago, 20 percent of all Valley homebuyers recorded as investors. The rate was 19 percent in January of this year. • Nearly half of the 5,953 homebuyers who financed their purchase through mortgages used Federal Housing Administration loans, which are primarily obtained by first-time buyers. Tax credit The federal tax credit expired April 30, so most last-minute sales for people trying to beat the deadline closed last month. First-time homebuyers were eligible for an $8,000 credit, and existing-home owners were eligible for a $6,500 credit. Buyers had to have signed contracts by the deadline to receive the credit but have until June 30 to finalize their purchases. Those lagging home sales will show up in Valley figures for May and June. Real-estate agents say it appears that in Phoenix, first-time buyers were the biggest group to tap the tax credit because they didn't need to sell a home to buy another. But a drop in foreclosures means regular homes will be drawing more attention from buyers. More demand for non-foreclosure homes will drive up values. Investors Investor purchases are dropping along with the number of inexpensive foreclosure homes for sale. Among those investors still buying homes, some have shifted to short sales, which are recorded as regular sales and fetch higher prices than foreclosure homes, real-estate agents say. The number of actual investors in the Valley is always higher than the number tallied on real-estate documents. Some investors fail to disclose the home is not their primary residence. During the height of the Valley foreclosure-sales boom in April 2009, more than 60 percent of all home purchases were made by investors, according to realty industry estimates. Then, there were 8,156 home sales in the region, and the overall median price was $126,000. Vicki Cox Golder, president of the National Association of Realtors, said there has been a change in housing-market psychology. "Buyer confidence is back, and homebuyers have long-term views," said Golder, a Tucson real-estate agent. "The typical buyer plans to stay in their home for 10 years, so we've put the flipping mentality behind us." 2010-05-25T07:24:22-08:00 http://valleymarketblog.com/index.php/site/the_latest_and_greatest_numbers_in_the_phoenix_metro_area/ http://valleymarketblog.com/index.php/site/the_latest_and_greatest_numbers_in_the_phoenix_metro_area/#When:08:11:48Z Please understand that I did these numbers by hand. I dont have any pretty charts or nice graphs. I think the numbers speak for themselves. Realizing the month of May isn’t over yet, it still seems like when month ends, the numbers will be a significant drop over previous months. I attribute this to the end of the tax credit and snowbirds have flown back to the North. In the Phoenix Metro area-as of today: Active listings only (active on the market, NOT under a short sale contract or in escrow) 33,285 Active plus AWC and pending (These are active homes plus the homes that have offers on them and homes in escrow) 55,389 This means that 22,104 of these homes are waiting for the bank to accept or reject the offer!! Closed homes in the Phoenix Metro area: Jan 5918 Feb 6842 Mar 9174 Apr 9324 May 5523 2010-05-23T08:11:48-08:00 http://valleymarketblog.com/index.php/site/new_short_sale_question_from_prospective_canadian_client_and_answer/ http://valleymarketblog.com/index.php/site/new_short_sale_question_from_prospective_canadian_client_and_answer/#When:06:37:04Z We are interested the Laveen area, with mountain view and a pool we have some homes in mind but have recently been informed that these homes are short sale which means that they are not readily available for purchase?? why are they included on the real estate listings then, we are now confused, pls shed some light on the area and purchasing, we want to come to arizona in June but want all of the facts first, are there other great value areas in Arizona as well as laveen Thank you MW Detailed answer: Hi M, I would love to answer your questions. I cant speak to the exact listings you are speaking of, but feel free to email me the mls number or even an address and I can get that further information for you. My guess is that you inquired about home(s) that had the status of AWC-I, which in layman's terms means that an offer has been accepted by the owner, and the bank is now looking at the offer. Any future offers on this home would be back up offers only. Short sales are definitely for sale, but what short sale means is that the current owner wants the bank (lender) to accept less than what is owed on the home and forgive the owner's remaining balance. The process of the bank deciding if they want to accept the offer can take several months. A "short sale" is named that because the owner is "short" money, not because it is a quick sale. A short sale is a preforeclosure. Chances are that the seller hasnt made full payments in a while. If the home isnt sold in a short sale, the bank will end up taking it back shortly, and it will become a foreclosure. A foreclosure is already bank owned and they usually have a response to an offer in 2-3 days. I have 2 thoughts for you, if you are open to my input. Search for less expensive homes without a pool and add one. The pool companies are struggling now, and you can get a pool starting at $14,000. Please keep in mind that most Canadians are searching for homes with pools, and you can reduce the chance of competition on a given house. Also, even though we are very warm during the summer, we dont generally swim during the months that Canadians are here (unless the pool is heated) Pool weather here starts in April/May. My other thought is to expand your search to Laveen,Queen Creek and Maricopa. You will find the best deals in those 3 cities! Please let me know if the short sale information makes sense. My guess is that the homes you inquired about are already under contract, but there is a small chance that whoever you called doesn't care for doing shortsales. They are much more time consuming than regular sales. The key for buying a short sale is to be the 1st offer the seller signs and just wait it out. I have some other tips for you if you are interested! Please let me know! Cheers, Brian Brian Petersheim Realtor HomeSmart- ABR,CNE 1.800.207.6919 http://www.CanadiansInArizona.Net http://www.MaricopaNewHomes.Net 2010-05-19T06:37:04-08:00 http://valleymarketblog.com/index.php/site/lender_owned_properties_birdseye_view_market_analysis_entire_phoenix_metro_/ http://valleymarketblog.com/index.php/site/lender_owned_properties_birdseye_view_market_analysis_entire_phoenix_metro_/#When:06:43:06Z Great graph pulled by the Cromford reports on the Phoenix Metro area. The information correlates with exactly what I have been seeing for the past year and a half. The number of listings are down by approx 20% from last year Sales for the year are up considerably. Prices are down also. In my opinion, the banks are finally coming to the conclusion that they have to sell these foreclosures and get them off the books. The % of list price increase over last year is attributed to the lower price and the influx of Canadians buying in the US market along with the winter snowbirds buying. The prices now are hard to beat. Many Canadians spend hundreds of thousands of dollars on homes in Canada. They can get a very similar summer home for much less. 2010-05-10T06:43:06-08:00 http://valleymarketblog.com/index.php/site/in_depth_analysis_for_march_2010/ http://valleymarketblog.com/index.php/site/in_depth_analysis_for_march_2010/#When:07:26:20Z IN-DEPTH ANALYSIS April 2010 March ARMLS Reports Resale Listings The listing count reported in the March Arizona Regional Multiple Listing Service (ARMLS1) Reports, which were released on April 16th, was 42,755—up 347 listings from the February reports. In March 2009 the listing quantity dropped below 50,000 for the first time in 27 months. The declining trend continued, taking the count to less than 40,000 for the first time in three years. However, this current level remains substantially above the record level of listings prior to January 2005 which was 30,046 listings in February 2003, and has started to slowly climb again in the past several months. Resale Sales ARMLS-reported sales for March rose 36% from the February sales figure with an increase of 2,374. On an annually adjusted basis sales were up 1,333 or about 17% from March 2009. This is the twenty-second consecutive month that there has been an increase in sales over the same month in the prior year. March’s sales quantity typically rises from February’s, so this month’s change is following the normal calendar cycle. In the normal calendar cycle, sales tend to be highest in the summer and then gradually taper off over the next few months before resuming the climb during the first quarter of each year. The winter months are consistently the lowest in sales. Our sources of data for these displays are the ARMLS reports. In these, there are three months, January – March 2005, for which we have not shown listing data because of apparent discrepancies. Additionally, ARMLS notes that the listing information for March through August 2002 may contain errors, but we have chosen to display this reasonable data above. A Two Year Perspective The graph below displays the same data as above, but focuses on only the most recent 24 months. Adjusted Monthly Sales Trend Sales, when compared to one year ago, rose for the twenty-first month in a row. This increase of 1,333 is illustrated in the chart below. The above chart is divided into market condition segments by comparing current sales activity to the sales activity during the same month in the previous year. Orange reflects relatively normal conditions; Green shows higher than average sales; and Red indicates slowing market activity. Analysis of these figures clearly shows the following: 1. From January 2003 through September 2005, sales increased every month when compared to that month in the year prior (from orange to green, then back to orange). 2. Every sales number from October 2005 through May 2008- thirty-two months - reflects a decrease in sales from the same month in the year prior (red). 3. Starting in June 2008 each month has shown an increase in MLS sales from the same month one year prior (blue). 2010-05-09T07:26:20-08:00 http://valleymarketblog.com/index.php/site/model_home_furnature_sale_in_laveen_just_sw_of_phoenix_5_7_10_5_8_10/ http://valleymarketblog.com/index.php/site/model_home_furnature_sale_in_laveen_just_sw_of_phoenix_5_7_10_5_8_10/#When:06:36:42Z Date: Friday May 07, 2010 & Saturday May 08, 2010 Time: 8 am - 6 pm Builder: Maracay Homes - 2 Spec Homes Community Name: Bridlewood Estates City: Laveen - 85339 (Does not include existing models) Cross Roads: 53rd Avenue & Dobbins Directions: West on I-10 Freeway pass 43rd Avenue to 51st Avenue make a left (south), pass Baseline Road to Dobbins Rd. make a right (west), to 53rd Avenue make a right (north), to Milada Dr. make a left (west) to 53rd Drive make a right (north), to Siesta Way make a left to 5345 W. Siesta Way on the left. 2ND LOCATION: West on Dobbins Rd. to 55th Avenue make a right (north), to South Mountain Avenue make a right (east), to 54th Drive make a right (south), to 5417 W. Coles Road straight ahead. (DOES NOT INCLUDE EXISTING MODELS) Inventory: Country and Shabby Chic - (DOES NOT INCLUDE EXISTING MODELS) Cash and Carry - (No Checks) - All Sales Final 2010-05-07T06:36:42-08:00