The Scott's Sell Scottsdale

November is here!  Where do the years go anyway?

There is good news on the real estate front as the market is very active.  Of course, the most active market remains in the lower price ranges but as these properties sell, the more expensive market will become the new hot spot.

Its official – President Obama signed the Homebuyers Tax Credit extension and expansion on Nov 6, 09. 

So what about the numbers for October 2009?  Do not believe everything you read in the newspapers or hear on the news as the data they receive lags the current market by about 3 months.  We have access to the latest statistics on a daily basis and would be happy to furnish detailed info for a zip code, city or even subdivision.  Do not hesitate to contact us for specific info.

 Regarding the overall Phoenix metro market::

• October 2009 research shows closings +8000 which is 50% above October 2008.

• With 12,000 transactions still in Pending status, and with the First Time Homebuyer Tax Credit thatwas scheduled to end this month, November should close a similar number.

• If we top the high of 8,071 sales of November 2004 – this will be the most November closings ever.

• At 78,000 YTD closings; 2009 is on track to rank as the 3rd highest year on record (should reach by Thanksgiving). We are already 30% above the total for 2008 and should end the year up about 50%.

Besides the YTD numbers, let’s look at the trends. The percentage of REO’s (Foreclosures) continues to drop both with  Closed transactions at 44% and the Pending Sale category of 35%. There is currently a 38-day supply of Active REO’s. Short Sales (SS), on the other hand, continue to increase. SS Active Listings make up 25% of all Actives with another +6000 in the Active Under Contract status.  October’s Closings were at 20%. But, with SS Pending’s totaling 31%, the closed % will increase. A further look at SS shows that the Days on Market (DOM) is approximately double of the non-SS DOM numbers. SS are slow to sell, as banks are overwhelmed with the volume and sluggish to review any offers. Unfortunately, many simply go to foreclosure auction before the SS sale is approved. However, the Good News is that the DOM for Closed SS has improved by almost 3 weeks in the last quarter.

The price numbers are continuing to ‘bump around’ with no consistent trend line. October’s Average Sales price was down about $4,000 to $171,000 and the Median Sales price was down $2,000 to $128,000. Both of these numbers are considerably above the yearly low of $159,000 and $115,000 respectively. The Average has been up and down for the past 4 months, with the Median down for the first time since April.

Overall Inventory – as you can see the inventory for the lower priced properties is minimal as compared to the highest priced homes.  This graph supports the sales numbers showing that  90+ % of the sales are priced under $400,000.  Homes priced under $300K are now considered a Buyers Market.

The Supply of Lender Owned Single Family properties priced under $300K is 27 Days
while the Supply of ALL Single-Family homes priced under $300K is now only 2.4 months.

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Specific numbers vary across the cities of the metro area.  We can provide the details for the area you are interested n, just send an email or give us a call. 

We are proud of our Broker Jim Sexton as he is always on the leading edge of the real estate community:
Congratulations Jim Sexton ...
Recipient of Phx Assn Realtors’ Continuing Service Award

Search the Phoenix Metro Area MLS

Our Arizona Real Estate search options: Looking for an Arizona real estate search vehicle?

Search the MLS directly from our web page AZ-real-estate-sales.com - your comprehensive resource for buying or selling real estate in the greater Phoenix metro area.

If you know the area and/or the specifics of what you are searching for, you can search by the traditional price range, # bedrooms, dwelling type etc. You also search by location / city.  If you know more specific information, you can search by individual subdivision, MLS number or address by entering it to find the listing detail.

If you do not live in the greater Phoenix metro area and are unfamiliar with the cities encompassed within the Valley of the Sun, you can perform a simple map search.  The map will provide the general layout of the metro area  -  here you can either click on the city you are interested in  or you can scroll down to a listing of cities The list will provide the current volume of available properties and the average sales price for that city. These tools will give you the info you need to determine the areas most suited to your needs and price range.

To obtain additional information about a specific city  - simply select the back to home page button . From the home page you can choose the Community Profile option to select the city(s) you want to research.

Once you have selected the city, you can quickly determine the volume of properties available and the average cost to buy or sell in a community by searching the Local Multiple Listing Service (MLS) from our Arizona Real Estate Web page. 

Below is a sample of a result of a city search. You can then search by type of Home, Price Range, all properties in the city or the newest homes that have been added to the market - the results include -  total listings available, Average Price, High Price, Low Price, average age of the properties and average price per square foot.

At this point, you have additional options available to further streamline your specific search  -  single story, number of bedrooms, pool etc.

These searches provide you with general and detailed information about the
current Phoenix / Scottsdale Real Estate Market!

What is happening in the real estate market? Many of the properties being sold in the greater Phoenix metro area are vacant.  Approximately 17,000 homes currently listed for sale on the local Multiple Listing System (MLS) are vacant. This is more than half or about 55% of the total properties listed in the MLS. Interestingly enough the vacant homes are selling quickly as approximately 82% of the closed sales have been vacant.  This means that the “seller” is probably not buying. In many cases the “seller” is the bank who is trying to clear property off their books. Banks do not like to ‘own’ property.  So, where did all the sellers go???? Are there sellers that are turning in to real buyers?

Unfortunately there are the high number of home owners losing their property to short sale or foreclosure.  The resulting decrease in there credit score combined with the more stringent requirements to obtain a real estate loan in today's market, has greatly reduced the previous homeowners ability to purchase another home.

We are witnessing the classic supply and demand. They say you never know where bottom is until you are past it. For the past 3 years volume was high and prices came down.  But, the market appears to be on the rebound. The number of sales is up 50% from 2008 and 66% from 2007.  The volume of properties available has dropped from a high of  approximately 56,000 to 31,700 today.  Prices seem to be stabilizing for the past few months. The average home price is currently around $171,000 up from a low of $159,000.  The reporting companies are stating that the market hit bottom (lowest price)  in the late March /early April of 2009. The majority of buyers in today’s market place are first time home buyers or investors with cash. So if you are qualified or have cash, it is a great time to pick up a ‘good deal’.

Volume of Homes Sold by month

Search the Phoenix/Scottsdale Multipe Listing System
AZ-real-estate-sales

The community of Arroyo Grande at Anthem Parkside is located in the foothills of northwest Phoenix metro area. This community is the last phase of Del Webb’s national, award-winning master-planned community of Anthem.  This Pulte/Del Webb new build community which offers breathtaking views in a family oriented neighborhood is just minutes from beautiful Lake Pleasant and all of the activities of nearby Phoenix. A true retreat from the hustle and bustle of the large metro area. The homes are well constructed on large lots, many with view fencing. Homeowners in this community have access to all of the activities and amenities of the Community Center at Parkside. These amenities include a state of the art fitness center, indoor and outdoor basketball, Big Splash Water Park,  swimming pools, sports fields and more!

Arroyo Grande is only about 9 miles from Lake Pleasant which is nestled in the Bradshaw Mountains about 30 miles north of Phoenix.  This popular lake has 10,000 acres of water surface and over 50 miles of shoreline! The lake is primarily fed by the Aqua Fria River which carries rain and snow melt-off from the northern parts of Arizona including the Bradshaw Mountains.  This lake was originally formed in the mid 1920’s when Waddel Dam was constructed. A new dam was built in 1992 which tripled the size of the lake.

On a warm summer day of 110 degrees the cool water can be quite refreshing!  There are opportunities for a variety of water sports such as boating, jet skiing, water skiing, sailing, fishing and exploring the vast shoreline.  There is also hiking, camping, picnicking and horse back riding. Something for everyone close to the metro area!

My buyers opted for a spec home in Arroyo Grande. Once we chose the spec home and executed a purchase contract, we investigated the Arroyo Grande community, the Anthem Community Center and were off to explore the surrounding area and the lake. They were very pleased to find such a beautiful home in an excellent community!

          Check out the view from their back yard - surrouding this community is miles of open state land.

Due to a variety of reasons, many of today’s homeowners are facing some serious hurdles in the current market place. Is your house worth less than you owe? Whether you purchased your home in the height of the boom and now your creative loan is about to escalate to a new monthly mortgage payment you cannot afford or if your job/business is suffering the effects of the recession, you can be pro-active about the future of your home ownership.

One option allows for loan restructuring/modification. This is an opportunity to obtain new loan terms for your existing mortgage. You principal balance is not reduced but new terms are negotiated presumably to decrease your current monthly mortgage payments. Be careful who you deal with as this industry remains largely unregulated. Unfortunately, many times this simply delays the eventual loss of the home.

Another option is the short sale. A short sale typically is executed to prevent a home foreclosure. In a short sale the bank agree to forgive a portion of the owners principal balance due.  The home is sold at the current market value which is usually significantly less than the mortgage and the owner is basically forgiven the debt.

The last option is to simply walk away and let the bank foreclose/take the property back.

All of these options lead to consequences for the homeowner.

Be Pro-Active. If you see potential problems in the future, don’t wait until you receive that threatening letter from the bank. Begin researching your options early in the process. Ideally even before you even miss any mortgage payments. Avoid the run around from the bank. Consider qualified legal representation for advice regarding lender negotiations and debt settlements. Understand your risks and rights. Legal council can analyze your situation and offer a variety of possible solutions and strategies designed to reduce the negative impact on your credit and to ensure that your legal rights are protected.

Call today to find out how to get a No Cost legal consultation today!

Office: 480-948-0550 **** Toll Free: 866-464-2140

School is out, kids are home and the warm weather has officially arrived. Time for Summer in the Sonoran Desert! For those of us to live here year round lovingly referred to as "Desert Rats", this is just another opportunity to enjoy our heat.

For those hearty soles who love golf,set those tee times are set earlier in the morning or in the late afternoon. What an awsome opportunities to play on those very expensive courses at quite reasonable prices! Do you think these exclusive may help improve your game?

The Scottsdale Parks and Recreation division opens registration today (June 1) to enroll in a variety of classes. If you want to learn a new hobby, how about ceramics, jewelry making, painting, sewing or dance? For those who prefer more strenuous activities, there are aerobic classes, swim classes , tennis lessors & leagues or hiking adventures. How about learning CPR or cartoon drawing? There is something for everyone-they offer a wide variety of activities for pre-schooles to teens to seniors! Check it out and consider signing up for the various opportunities available through the Scottsdale park and recreation division.

There are a assortment of summer camps for kids!  The Scottsdale Music Camp, the Boys Girls Clubs of Scottsdale Summer Camp, Hubbard Summer Sports Camp, the Scottsdale Unified School District offers summer academic/enrichment camps or how about the Young Chefs Academy?

The free concert series hosted by McCormick-Stillman Railroad Park is available to the public Sunday evenings from 7:30 - 9:00 pm through July 5th. Get your blanket or chair and listen to local bands under the stars. The train and Carousel will be operating for kids and parents alike. The Botanical Gardens is presenting its annual Jazz in the Garden 2009 Concert Series. Kierland Commons offers a Summer Concert Series. This event for the entire family is held every Saturday evening from June 6 - July 25 from 7 - 10pm (excluding Saturday, July 4th).

Thinking about how to get out of the heat for some cool entertainment? There are many neighborhood movie theaters offering great kid summer movie series.  Tickets only cost minimal and they show some fun kids movies like Shrek, Curious George, and Shrek2...

If you have some time off and don't want to go far, many of the local upscale resorts are offering ubelievable deals to stay for a few nights. You can be pampered while the kids take advantage of the fun pools and activities.

Of course, there is always the Phoenix Zoo, various museums,summer arts and craft fairs, Rawhide and the Arizona Diamondbacks baseball.

So, enjoy the sunshine and take advantage of some fun summer activities.

If you are considering a move the the Valley of the Sun -  please use this map search to find homes currently listed for sale in Scottsdale and the greater Phoenix metro area

Google Profile Page   --  Google Web Page

I must admit that our little rescue dog , Heidi, is adorable and very sweet. This is probably the only reason that she remains ‘our dog’ these days. 

She is a lovely dog but has separation anxiety whenever we leave the house without her. Needless to say, during the past year since her adoption, she has trained us to attempt to figure out the things she could possibly get in to while we are away. So much for screens.

Lets put it this way, she is banned from the house because she either chews something or carries it around so we cannot find it. She is also banned from the pool yard because she loves to chew on the sprinkler system. The little fountains are sorta fun. Since we have an acre lot we allow her to patrol the large back patio and yard beyond the gated pool area. She is also allowed to be inside in bathrooms that has her doggie door to the back yard.  After finding a variety of items in the back yard, I have learned to remove everything from this bathroom’s counters and the towel racks. The toilet bowl cleaner brush is safely locked in the shower and the toilet paper is set high on an empty towel rack. One of Heidi’s favorite pass times is toilet papering our yard. This is especially fun if the automatic sprinkler system comes on. 

Anyway, one morning last week I left the house for a short period of time. I returned to find water running out from under the bathroom door! I opened the door to discover the sink clogged and the faucet on full blast!

Ok it was my mistake, the previous day I had set a new roll of TP on the bathroom counter intending to put it in the cabinet later. Unfortunately, I forgot to do so. The result? Well, my guess is that Heidi discovered the TP roll on the counter and immediately jumped up to play with her treasure. She is an excellent jumper! She must have somehow knocked the roll in to the sink basin. And in attempting to get it out, she managed to turn the water faucet to the ON position. Just in case you are wondering, wet toilet paper makes and excellent drain plug!

I came home to a sink over flowing, water running down the hallway (fortunately tile) and cabinet drawers filled with water.  It took me several hours and lots of towels to finally clean up the mess.

Now, the question. Should I confess to Gary what had transpired or simply be quiet? I did manage to not say anything until the following day/ There were just too many tell tail signs - small pieces of TP that glued down to the back patio,  the warped drawer that would not close completely and the musty smell. I finally explained the event reminding him that ’some day’ he would think this was funny!  Of course at that moment, he did not see the humor and I got my lecture about what could have happened if I had been gone for an extended period of time , about how the dog would have to be in her cage when we were away etc.

He immediately removed the drawers so the warped pressed wood would dry and hopefully fit in to their place again. Then he got our large fan and set it up to begin to dry out the cabinets.  Fortunately Arizona is a very dry climate! All has ended well with the bathroom and hall show no effects of any water damage.

Doesn't she look innocent:-)

So, what do you think would be the probability of this happening????

I have to say that I love meeting all the diversified and talented individuals whom I am fortunate enough to assist in buying and selling homes here in Scottsdale, Arizona.

I met Donna and Herbert when I was a relatively new Scottsdale Realtor.  We became fast friends and kept in touch for several years. Finally, Donna convinced Herbert that they just had to move to Arizona. So, we began a search for them and their pets.  They now have a lovely home in north central Scottsdale and have not regretted moving "west".

We have remained good friends. I asked Donna if I could share her story as she has blossomed in to a wonderful southwestern artist. Below is her story. Please view more of her work her work at this site.

Donna Leonard is a transplant from Northern Virginia and moved to Arizona in 2006. She has always loved to paint but never had any formal training. After a few nudges from her neighbors who love to paint, she enrolled in a few classes at Scottsdale Artist School and the Via Linda Senior Center. That was enough to get her started and she developed a theme of painting cowboy portraits in oils. She loves the western scenery and will soon branch out into painting landscapes and desert life as well.

Donna entered a juried show at the Scottsdale Artist School and was chosen to exhibit her painting in the Best and the Brightest show in 2008 http://www.scottsdaleartschool.org. She is also on the 2009 www.gamblincolors.com site after entering a black and white portrait. She is currently entering more contests.

She lives in Scottsdale with her 21 birds and Pomeranian (and her wonderful husband of course)

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Scottsdale Real estate Sales - search for homes in Scottsdale AZ

The Arizona Regional Multiple Listing System (ARMLS) has made the Cromford Report available to subscribing Realtors. This report provides detailed information to track the history and current status of the greater Phoenix residential resale market and offers unique insight into its future direction. It is an excellent tool for Realtors to provide up to date sales statistics and current market snapshots.

The greater Phoenix metro area statistics are favorable as sales are increasing and the market inventory steadily decreases. The local real estate market is most active in the $250,000 & less price range as investors and first time home buyers have jumped in to the market. The current Phoenix inventory is at 4.1 months supply, which is considered ‘normal’ for our area. Other areas/cities range in inventory. A variety of individual stats for a specific city or zip code can be computed. Feel free to contact me for the detailed information you are interested in researching.

The table below provides a detailed statistical analysis of today's residential resale market in the Phoenix metropolitan area as of May 21, 2009. The figures shown are for the entire Arizona Regional area as defined by ARMLS. All residential resale transactions recorded by ARMLS are included.

Geographically, this includes Maricopa County, a large part of Pinal County and a small part of Yavapai County. All dwelling types are included. For-sale-by-owner, auctions and other non-MLS transactions are not included. Land, commercial units and multiple dwelling units are also excluded.

© 2009 Cromford Associates LLC www.cromfordreport.com

Explanation of Column Headings

• ST = SHORT TERM TREND - The arrows in this column indicate the direction of the change between TODAY and LAST MTH
• LT = LONG TERM TREND - The arrows in this column indicate the direction of the change between TODAY and LAST YR
• Color code: The background to the trend arrow is colored green if the direction is favorable for sellers and is colored red if the direction is favorable for buyers. It is colored yellow if the change was zero. If the circle is white then the statistic is neutral for both buyers and sellers.
• TODAY means the date given at the top of the page.
• LAST MTH means the same date last month.
  
• LAST QTR means the same date three months ago.
• LAST YR means the same date one year ago. 2 YRS AGO means the same date two years ago.

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Search the Phoenix MLS for properties currently listed for sale

The ‘Chihuly—The Nature of Glass’ - blown glass exhibit currently at the Arizona Desert Botanical Gardens will be displayed through May 31, 2009.

This display of unusual and creative glass art sculpture is well worth the visit. Dale Chihuly's work is included in more than 200 museum collections worldwide. This is his first exhibition in an outdoor desert environment. His creative art work is quite amazing. We arrived early enough to view the glass sculptures before sunset and then also took in their beauty after the sun went down. Mr. Chihuly has created a variety of glass works are displayed throughout the gardens.

The colors are vibrant and the detail is amazing. His innovative glass creations are magnificent. I can only imagine how long it must have taken for him to create, transport and set up this exhibit. Not to mention, that many are displayed in the middle of some very thorny cacti! The event is fun for all - you can view not only the glass exhibit, but also experience the beauty of the red buttes of Papago Park and the wide variety of desert plants maintained throughout the Desert Botanical Gardens 50 acres! The gar

den is Home to 139 rare, threatened and endangered plant species from around the world. only 10 days left - plan your tirp soon.

Arizona is a great place to live, work and play!          

More photos on Flickr