Volume 1 Issue 7 & 8
July/August 2011 Cachet-"A mark of quality, as of distinction, individuality or authenticity"
Cachet at Grayhawk Real Estate Newsletter Presented by Wendy Kirtland, PLLC RE/MAX Fine Properties Cachet at Grayhawk Real Estate Update Summer is definitely here! (Please see the back page for information on our summer storm) Real estate has also heated up and Cachet at Grayhawk is no exception! In June we had 1 closed sale–a lender owned property for $255,900 which was over listed price. We currently have 1 lender owned pending listing at $209,900. And the townhome I wrote about last month is Active with Contingencies (AWC) and I expect it will soon be pending. We just have 4 active listings, 2 are lender owned and 2 are traditional sales. Listed prices range from $177,900 (our first sub-$200,000) to $329,950.
For the first time, in possibly a year or two, we no longer have any Pre-Foreclosure properties in our neighborhood. This should be a cause for celebration as this should help our property values stabilize once we do get our current lender owned inventory sold. I follow our market very closely and receive updates of new listings, price changes, pending and closed sales. If you would like to receive more information on Cachet at Grayhawk please feel free to contact me at 480-215-0959. I am always happy to share information with my neighbors.
“GO GREEN” Any time you would like to receive our newsletter via email just send an email to WKirtland@FineProp.com and put GO GREEN in the subject line. Feel free to email me any time with suggestions for information you would like to see in an upcoming issue. Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
Wendy is a full-time REALTOR who works diligently to serve her clients’ best interest. Whether listing or selling your home for your highest advantage or finding the perfect home to suit your needs, she is tireless in her efforts. Wendy holds the designations of Graduate of Realtor Institute (GRI), Accredited Buyer’s Representative (ABR), Certified Distressed Property Expert (CDPE), Certified Investor Agent Specialist (CIAS), Short Sale and Foreclosure Resource (SFR), and Certified Negotiation Expert (CNE). Wendy is a Cachet at Grayhawk Resident.
www. WendyKirtland.com
What a Difference a Year Makes! Currently we have almost 50% less inventory than we did last year. These numbers are based on single-family and patio homes. If you add in the number of condos, townhomes and others we still only have 31,227 active listings in all Maricopa County. This is significantly lower than the almost 42,000 homes we had for sale last year at this time. So what does this mean for buyers and sellers in the market, or thinking of being in the market, right now? We currently have 2.5 months of supply in Peoria/Glendale to 6.1 months of supply in Paradise Valley. In some areas we are teetering on a SELLER’S MARKET and in other areas we are getting close. For buyers this means fierce competition for the best homes with multiple offers and paying over listed price. It may mean putting up a larger earnest deposit, non-refundable earnest deposits, paying cash, or just offering over listed price. Now is not the time to write a “low ball” offer. In most cases you will not even be considered.
For sellers this means there are buyers who want to buy and now they have less inventory to choose from. This does not mean that your home is worth more, but it does mean that you will have a better chance to sell. Price your home in a realistic price range, put your best effort toward having your home in perfect condition and show ready at all times. Prior to listing have a Home Inspection done and make all of the suggested repairs, offer a Home Warranty to the buyer and have your home “staged” by a professional. You will be amazed what a professional stager can do with your furniture and accessories. By doing some of these items you may even be able to net more dollars when you do sell. If you are interested in finding out more about selling or buying a home in today's’ current real estate market please call me at 480-215-0959 for a customized market analysis
Managing the Financial Markets-Is Inflation Heating Up? Inflation affects all of us regardless of income level. It most certainly has an effect on the stock and bond markets. One way to counter inflation is to invest in risk or growth assets. Taking the risk necessary to grow your assets at a faster rate than inflation allows you to stay ahead of prices as they balloon during the life of your portfolio. As growth managers, we agree with this statement. As risk managers, however, we feel it is equally important to protect your principal during downward trending markets. In the end, the growth you enjoy is of little use against inflation if you do not employ a process to protect it when the market gets volatile. This is where the PMWMG Advance and Protect Philosophy can help. Just as inflation is inevitable, it is also inevitable that we will experience several major market declines during the accumulation and retirement income phases of life. Whether or not inflation is heating up and prices are ready to rise, the PMWMG Advance and Protect process is designed to participate in growth when the market is in a positive up trend while providing a safety net when the market turns rocky. The slide in the stock market since April has been very broad based in nature, leaving few places to seek stable or positive returns in the stock market. No one knows when this decline will end and Wendy Kirtland, PLLC
the Portfolio Managers at PMWMG would not be so bold as to predict that either. What we do know for certain is that we follow a very strict process which allows us to follow the trend for every position in which we invest and allow statistics and facts to drive our buy and sell disciplines. In May, with the principles above as our wealth management foundation, we began to take profits, reduce our model portfolios’ risk exposure and monitor trends to identify the appropriate time to invest in these positions once again. These steps were smaller in scale in May, such as taking profits in certain International and Emerging Markets positions. However, these steps have accelerated thus far in June with the further reduction of International and Emerging Markets positions and culminating in a nearly complete move to cash in our equity portfolios. Also, we liquidated the High Yield component of our Focused Bond Portfolio. Rest assured we will continue to monitor all market trends and are prepared to invest again once the momentum dictates participation. We made a statement in the commentary in last month’s edition of Financial Focus that bears repeating: "As your fiduciary, we are prepared to take the necessary steps in an effort to avoid the uncertainties a volatile market can bring." Throughout May and June we remained true to these words and will continue to take theses necessary steps as long as we are entrusted with your financial well-being. The Owners/Portfolio Managers at Pogson & Matt Wealth Management Group.
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Large “Haboob” Moves Through the Valley
HABOOB: When a storm begins to release precipitation, much of it evaporates in the dry desert air, before reaching the ground. Evaporation makes the air cooler, and very heavy. When this downdraft, or “downburst”, reaches the ground, dry, loose sand from the desert settings is essentially blown up, creating a wall of sediment preceding the storm cloud
The desert south west portion of the U.S. gets very dry, and sometimes all it takes is a good puff of wind to get a dust storm (Haboob) going. That is what happened on Tuesday, July 5, 2011. The wall of dust sustained winds of around 60 miles per hour, close to hurricane force. At one point, wind gusts hit 81 miles per hour in a Phoenix suburb.. The dust wall is a common sight in Phoenix, but this wall was one for the record books. The cloud stretched 60 miles wide, and turned the sunny skies of Phoenix black. These storms can be extremely dangerous, due to the high winds and particles in the air. The dust particles leave a thick coating on everything that’s left uncovered. Needless to say, clean up is underway and the car washes are “cleaning up” at the cash register! These are the times when we are grateful we live in a townhome or condo and someone else cleans the pool! “I am a native Arizonan and I don’t recall ever seeing a dust storm quite like this!” Please Note: For the summer our newsletter will be published July/August and September/ October. We will resume our monthly publication in November. Thank you for reading it!
Wendy Kirtland, PLLC RE/MAX Fine Properties 21000 North Pima Road, Suite 100 Scottsdale, Arizona 85255
Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com