Altos Research just created a new tool for displaying current Scottsdale real estate information. I’ve created the following real time report with up-to-date home listing prices and average days on the market for each of the Scottsdale zip codes.
The chart below shows you a sample of the report and specifically what the McCormick and Gainey Ranch home listing prices are for today, September 29th. When you click on the link above, you will get current information for the day it actually is. A good tool to bookmark as we ride through our current market.
I’ve been tracking South Scottsdale home prices very closely for the past several months, seeing some trends, but not quite sure how strong they were. Now that we are seeing some consistency, both in number of sales and median price, over the past four months, I’m feeling more optimistic.
There’s been a bit of downward price fluctuation, which remains relatively small in comparison to what we are seeing in many other areas of the Phoenix metropolitan area. The number of home sales is also steady.
What brought this apparent stabilization all to my attention is the following chart, which I receive in my weekly updates from Altos Research. Notice the green box at the bottom of the chart… that indicates that the Market Action Index is Cool, as opposed the Cold assessment that we’ve been seeing for a very long time. All other zip codes in the Scottsdale city limits still remain a strong buyer’s market, but 85257 is definitely inching its way back to a balanced market.
You’ll notice that the average listing price is increasing, while the number of days the house has been on market is decreasing. In entry level homes, the average days on market is running about 90 days.
Finally, a chart of the Market Action Index, Altos proprietary formula, which identifies the type of market we are in… and while 85257 is still in a buyer’s market, the trends do appear to be changing.
(Caveat: The average lot size is off in the chart above. By far, most homes in this area of Scottsdale are on lots that are in the range of 6,000-8,000 square feet. There are a couple that are in the 1/2-1 acre range, but these are definitely the exception.)
I just got back from Las Vegas, where I attended the 2008 BlogWorld and New Media Expo. All I can say is WOW!!
It's all about building community.
Being a Realtor, a good one, requires that I keep up on the latest trends, not only in the real estate market, but also in business. These days, businesses are discovering the value of connecting to their clients through blogs and other social media tools, like Twitter and Flicker. It’s a way of communicating that is changing in our society.
You will find that when you work with me, that much of our communication is by email (or texting, if you choose). I am a very early riser, and try to get my blogging and email completed then, before I head out for the day.
For example, this morning, I emailed a client in Europe to discuss her inspection report and the repairs that she wants the seller to perform. Another local buyer emailed me with an addendum that needed to be signed and returned to meet her lender’s requirements. I responded to another inquiry from a buyer on the East Coast and was able to quickly answer her question before she headed to the office. I still phone my clients, when it’s appropriate. However, many of my clients prefer using email also, as it allows them to control their time better.
Now for the next evolution.
Blogging and new media are the reasons I went to BlogWorld. I like to write, it something I’ve done for years, and with blogging, I finally have a venue to share. I also like to take photos, and now with a digital camera, I can take lots of photos, so that I have better pictures to share. And, I guess I really do love to communicate, because twittering suits me just fine.
So, what did I learn in Vegas, that you might really care about?
I learned about running my business better:
- by creating systems to manage my Internet-based work flow more effectively
- by renaming and tagging my photos consistently so you can find them easier
- and by writing with passion and transparancy, so that you can get to know a little bit about me before we decide to work together.
I connected with a whole new level of communicators from many other fields of business, and from around the world.
And what does that mean to you, as a potential buyer or seller of real estate?
It means that you are working with a Realtor who likes to stay on top of the real estate market, and incorporate time-saving and forward looking business practices. I like to sell real estate and love to do it well. My job is much more than listing or showing homes, and more than writing contracts. It’s really about connecting with my clients, the buyers and sellers of homes, so that I can give you correct, current information about the real estate market in a manner that you understand, so you can make smart choices in this sometimes, complicated world.
I like to share and interact, so if you’d like to contact me for more information about real estate, or blogging, or something about Scottsdale, in general, just do it. Drop me a line via the contact form in the right hand column, or come see me at Twitter, Flickr, or Linked In.
Finally, I’d like to give credit to some of the presentors that graciously shared knowledge and expertise this past weekend.
Thank you to Mariana Wagner, Teresa Boardman, Pat Kitano, Todd Carpenter, Jeff Turner, and Kelly Kohler - I was so jazzed that I wrote this note on the flight back to Phoenix.
Thank you for RE BlogWorld
photo credit: wadem
As human beings, we have two sides to our brain. Simplistically, I call them the thinking and feeling sides. One side we use to crunch numbers, and the other we use to enjoy an aesthetically pleasing (or not) piece of art.
When I work with home buyers, I remind them to use both sides of their brain when purchasing a home.
To purchase a home, there’s a lot of number crunching that goes on. Especially in this market, where a home buyer wants to be sure they are paying a price that will hold up in our changing economy and real estate prices are impacted both directly and indirectly by many factors. Sometimes, it’s easy to get caught up in the decision making process on which home is the best buy, considering location, price, financing terms, and much, much more.
On the other hand, home buyers actually have to live in the property they purchase, so it’s really important that they like (or love) the home they are purchasing. After all, it’s where they are going to be waking up most mornings!
Several years ago, I was working with a younger first-time home buyer. Her mother had flown out to assist her in her selection. We all worked well together and narrowed the possibilities down to two condos in the same complex.
At decision times like this, it can be very overwhelming for a buyer. They are often often asking (many) others for opinions and recommendations. The noise is their head can get very loud, making it tough to know what is right for them.
The buyer and I met again to write a contract, and she was still torn as to which condo to purchase. In this particular case, I asked her one simple question, “Which house did you imagine waking up in this morning?” She smiled, and gave me her immediate response. It was not the one her advisers had been giving her, but it was the one that was right for her.
In the past two weeks, I’ve written a number of contracts for buyers. In two cases, there was one particular room in the home, that each buyer walked into, and connected with. You could see it in each of these buyers’ eyes. And, it wasn’t anything that we could necessarily search for in the MLS system. It wasn’t the fact that it had a great view, or an open kitchen. It was that each of these buyers could see themselves in the home of their choice. Plain and simple, they were looking for a space to live in, to accomplish their goals, to feel fulfilled.
So, when you are searching for a home on-line, know that this is just the starting point. Unless you are an investor, who is looking totally at cash flow and the bottom line, you will want to find a house that works for you, both financially and aesthetically. Even if the home is a fixer-upper, but has great bones, seeing yourself living there is a critical part of the process when selecting your next home.
Dream a little, work the numbers, and then decide.
This past weekend, I spent time with one of my clients who is purchasing a home in Raintree Ranch in Chandler. When the home inspection was completed, I slipped upstairs to get a photo of this great view from the master bedroom balcony.
We do have a number of communities in Scottsdale and Chandler are built around lakes, providing water frontage and excellent lake views, and as of this morning, 80 homes with lake frontage are for sale in these two Phoenix area cities. Here are the communities that currently have homes with lake frontage listed in our local MLS. I’ve included the minimum listing price for each community also.
The Springs, starting at $239,000
Lagos Vistoso, $299,999
Ocotillo Lakes, $339,900
Stillwater Cove, $408,000
Oakwood Lakes, $409,900
McQueen Lakes, $425,000
Ocotillo East, $430,000
The Peninsula in Ocotillo, $436,900
Estates at Ocotilla, $459,900
Pinelake Estates, $525,000
Harbour Club at Ocotillo, $535,000
Monterey Bay at Ocotillo, $572,500
Enclave in Ocotillo Lakes, $634,900
Alicante at Valencia, $637,000
Laguna Cove at Ocotillo, $675,000
Catalina Shores At Ocotillo, $679,900
Balboa Point, $949,000
Watermark at Ocotilla, $950,000
Embarcadero at Ocotilla, $969,000
Vistas at Ocotilla, $999,000
Santorini Shores at Ocotilla, $1,050,000
The Island at Fulton Ranch, $2,150,000
Oakwood Hills, $2,500,000
Crown Point at Ocotilla, $3,499,000
Scottsdale Country Club, starting at $635,000
Island at Scottsdale Ranch, $999,999
Vista del Lago, $1,075,000
Island at McCormick Ranch, $1,190,000
Landings at Scottsdale Ranch, $1,550,000
Gainey Ranch Enclave, $1,800,000
Palo Viento in McCormick Ranch, $1,850,000
Bayview Drive in Scottsdale Ranch, $1,850,000
Desert Mountain, $3,750,000