How’s the Real Estate Market, Really?
I am always surprised when I am asked “Is the real estate market picking up a little?” Then I realize that most folks get their information from the mainstream media. No wonder there’s so much missinformation about real estate. I am here to give you the facts on real estate in Maricopa County. This is where we live and this is where we own real estate. We are not the rest of the country! The following statistics are from the Arizona Regional Multiple Listing Service (ARMLS) which are available to the public on ARMLS. com. They are for single family residential units. 2010 figures are through June. In 2009, 93,308 units were sold. How does this figure compare to previous years? 2009 was ranked 3rd behind 2004 and 2005. Remember those boom years? 2010 is on track to outpace 2009. We have already sold 48,337 units. Our median and average prices are above those of last year as well. Our current inventory is under 30,000 units. We don’t even have a 6-month supply of inventory. A 6-month supply of inventory is considered a neutral market. Anything below that is a seller’s market. So where are all of the sellers? I am working with buyers and it is increasingly difficult to find homes. Properties are getting multiple offers and many times selling for over list price. So where are all the sellers? Apparently they are listening to the main stream media telling them that the real estate market is bad. Bad where? Surely not in Maricopa County, Arizona. Lots of homes are selling here! So now you say, “Those numbers are skewed because of the tax credits.” Yes, the tax credits have expired. Yes, they did push some homebuyers to purchase sooner rather than later. But now we have mortgage rates at historical lows with homes more affordable than anytime in the past decade. There are qualified buyers out there! What about taking advantage of the low interest rates and low prices? Have you considered investing in real estate? 5 or 10 years from now you may be saying “I wish I had been wise enough to invest in real estate when prices were so low!” Call me to discuss the possibilities! If you are considering selling your home or want to know what home values are in your neighborhood, call me for a no-obligation market analysis. I WILL TELL YOU THE TRUTH. This is NOT 20052007. This is 2010 and homes need to be priced for 2010. Homes are selling at record pace. Your home will sell with the RIGHT PRICE, the RIGHT MARKETING and a REALTOR® who uses the RIGHT TECHNOLOGIES to get the job done. I want to be that REALTOR® for you! Call me at 480.215.0959 or email at WKirtland@FineProp.com.
Arizona Homeowner September / 2010
Yearly Market Comparison Jan-June 2009 vs. Jan-June 2010 NUMBER OF SOLD LISTINGS 2009 2010 DIFF CHG January............................4,675............................. 5,671.............................. 996..........................21.3% February...........................5,421............................. 6,429........................... 1,008..........................18.6% March...............................7,561............................. 8,826........................... 1,265..........................16.7% April.................................8,480............................. 9,180.............................. 700............................8.3% May.................................9,147............................. 8,985.............................-162...........................-1.8% June.................................9,200............................. 9,246................................ 46............................0.5%
44,484........................... 48,337........................... 3,853..........................10.6%
2009 2010 DIFF CHG January................$ 841,604,776............... $ 997,784,169.............. $156,179,393..........................18.5% February.............$ 931,931,916............ $ 1,125,347,363.............. $193,415,447..........................20.7% March..............$ 1,200,115,339............ $ 1,571,847,740.............. $371,732,401..........................30.9% April................$ 1,345,720,436............ $ 1,577,616,748.............. $231,896,312..........................17.2% May................$ 1,492,091,098............ $ 1,595,196,156.............. $103,105,058............................6.9% June................$ 1,569,478,866............ $ 1,662,302,715................ $92,823,849............................5.9%
When not working with clients she spends time furthering her real estate education. In 2009 she completed courses to become an “Accredited Buyer’s Representative,” a “Certified Distressed Property Expert,” a “Certified Negotiation Expert,” a “Short Sale and Foreclosure Resource,” and other additional courses.
2009 2010 DIFF CHG January.......................... $130,000............................$123,000........................... $-7,000.............................. -5.4% February......................... $125,000............................$125,000....................................$0................................0.0% March............................. $119,627............................$128,288.............................$8,661................................7.2% April............................... $115,000............................$128,275...........................$13,275..............................11.5% May................................ $119,700............................$130,000...........................$10,300................................8.6% June............................... $125,000............................$127,000.............................$2,000................................1.6%
$7,380,942,431............. $8,530,094,891........... $1,149,152,460..........................16.7%
MEDIAN SALE PRICE
Source: ARMLS. Information is deemed reliable but not guaranteed. Data maintained by ARMLS may not reflect all real estate activity in the market.
Homeowner Tip of the Month
RE/MAX Fine Properties 21000 N. Pima Rd., Suite 100 Scottsdale, AZ 85255 eFax: 480.355.9514 WKirtland@FineProp.com If you know of anyone who may be interested in receiving this newsletter, please send me an email or give me a call. I am always happy to add more subscribers to the list. If your home is currently listed, this is not a solicitation for that listing.
To Your Home Decor
DOLLAR VOLUME OF SOLD LISTINGS
Wendy is a full-time Realtor who pours her heart and soul into serving her clients’ best interest. Whether listing and selling your home for the best price in the shortest amount of time or finding the perfect home to suit your needs, she is tireless in her efforts.
WENDY KIRTLAND
Adding
TENNIS, ANYONE? Do you have tennis balls just sitting around losing their bounce? Here are some creative ways to use them without ever setting foot on the court. • Cut an X in a tennis ball and slip it over the end of an old broom handle. Rub the ball over scuff marks on your wood or hard surface floors, and voila...they’re gone...with no bending, stooping or scrubbing! • Got a light bulb that broke off in the socket? Carefully clear away any remaining shards of glass, then gently push a tennis ball against the light socket and twist to remove the bulb’s embedded stem. • Cut an X in a tennis ball and slip it over the head of a hammer. Now you’re less likely to ding up fragile or expensive wood. • Cut a tennis ball in half and use one of the sides to open those stubborn jars. • In the garage, hang a tennis ball on a string from the ceiling so that the ball touches the top left corner of your car’s windshield. Now you have a marker and know exactly how far to pull the car in every time!
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