Real Estate Prices in Scottsdale: Get real time updates for your zipcode

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...

Scottsdale Real Estate: Market Update for 85257

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. I’ve included this week’s copy of the Real Estate Market Report for Scottsdale, Arizona 85257 – Executive Summary, and if you’d like a copy of the full report, just fill out the form on the right...

Real Estate BlogWorld – How we can communicate with each other

I just got back from Las Vegas, where I attended the 2008 BlogWorld and New Media Expo.  All I can say is WOW!! 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...

Using Both Sides of Your Brain to Buy a House

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...

Raintree Ranch in Chandler – Lake Living

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. Chandler The Springs, starting at $239,000 Lagos Vistoso, $299,999 Pineridge, $309,000 Ocotillo Lakes, $339,900 Silverlake, $389,000 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 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,...