Yahoo published an article today "What Your Home Will Be Worth in 2012". (Thanks for the heads-up, Greg!) The Phoenix forecast seems unlikely to me. Metro: Phoenix-Mesa-Scottsdale What a Home Will Be Worth in 2012: $141,859 Q4 2008 price: $169,000 Projected price change by MSA: -16.1% Projected … [Read more...] about Phoenix-Mesa-Scottsdale Real Estate in 2012?
Archives for June 2009
I love waking up early and watching the sunrise with a good cup of coffee (and my camera)! Monsoon season will be here soon, so we will be seeing more clouds, which provide a beautiful backdrop for Arizona's trademark sunrises and sunsets. Enjoy your day! … [Read more...] about Waking up to Beauty
Last night, I was out doing a last minute check on one of my Scottsdale condo listings that is closing today, and caught this rainbow on my phone. I emailed it to TwitPic which posted it to Twitter for me, and started getting comments from around town right away. A fun way to share a gorgeous sky! … [Read more...] about Scottsdale Rainbow
Mike Orr from the Cromford Report knows Phoenix area real estate market statistics better than most anyone at this point. He just published his mid-month update and there are some very notable changes in our market. I've clipped some of the most interesting information to share with you. Mid-Month Pricing Update Each … [Read more...] about Cromford Report: Phoenix Area Real Estate Update
More evidence of our changing real estate market: The Cromford Report has defined Contract Ratio as follows: Contract Ratio indicates how "hot" a market it. It specifically measures the number of active sales contracts under negotiation relative to the supply of active listings. It is defined as 100 x (Pending … [Read more...] about Phoenix Real Estate: Edging Back into a Seller’s Market
Here's the latest "Good News" from the Cromford Report: On June 20, 2009 for "all areas and types" we recorded a Monthly Median Sales Price of $124,000, up 7.8% from the $115,000 we recorded on April 30. This is for ALL ARMLS listings and all types of dwellings, so it represents the median across this entire market. But … [Read more...] about Phoenix Real Estate Update: Median Sales Prices on the Rise
Realtors often say things like "Location, location, location", and "Real estate is local". Comparing Phoenix and Scottsdale real estate stats really is like comparing apples to oranges, but I'm going to do it anyway. A few facts: Phoenix covers a much larger area, 517 square miles, as compared to Scottsdale's 184 square … [Read more...] about A Tale of Two Cities: Comparing Phoenix and Scottsdale Real Estate
This is the June update I promised a couple days ago. April 2009 - Seller's market (<5 months inventory) exists below $175K. Buyer's market (>7 months supply of homes) starts at $275K. May 2009 - Seller's market exists below $225K. Buyer's market starts at $350K. June 2009 - Seller's market exists below … [Read more...] about If you don’t believe the Phoenix real estate market is changing, you’d better look at this!
Record home sales have been reported over the past several months, and equally dramatic price depreciation, but Scottsdale has not been experiencing the same real estate market. In 2005, home prices, based on a per square foot basis, increased significantly, jumping from about $215/sf to $285/sf in one year. A 32% … [Read more...] about Scottsdale Home Prices – Stabilizing?
Over the past five years, investors have accounted for more than 10% of the home sales in: Tempe Carefree Phoenix El Mirage Tonapah Glendale Scottsdale Avondale Paradise Valley Apache Junction Mesa Fountain Hills Surprised? … [Read more...] about Where have the real estate investors been buying?