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Mary Maxie - Maxiemize Phoenix Lifestyle with Canadian Realtor

Phoenix realtor vultures

Phoenix Realtor Vultures
Lately, whenever I show a house, there are typically anywhere from 2-8 realtors circling the house like vultures around a fresh kill, waiting their turn to get inside. More often than not, they have no client with them. This tells me several things:
1. There are very few houses available for sale
2. Those that are for sale are going to sell for more than list price, & often there’s a bidding war.
3. If it doesn’t seel right away, it’s overpriced or trashed.
4. If realtors are circling without clients, they usually represent investors who often don’t need to see the house, but just figure out if they can make a dollar or two by fixing and flipping.
5. There are so few houses for sale, that people are putting a high price on their offer, to get the house off the market, and then once they figure out it’s not an economically sound buy, they let it go back on the market.
6. There are several backup offers on every reasonably ‘good’ house.
7. Often a house goes on the market with several offers already accepted & backing up. This tells me that listers are offering the house to their own clients & clients of their office first, before putting it on MLS, so that they can double dip on the commissions. Not bad in & of itself, but discouraging for buyers.

If you or anyone you know wants to talk about pricing, short sales or anything else that’s going on in this crazy real estate market, please call me.

Arizona Short Sale Points To Ponder

Have you ever thought about a short sale on your home? Are you underwater but still managing to make your payments every month? Or maybe you have no idea what to do do next, & have had to stop making mortgage payments?

I’d be happy to sit down and explain a few things to you, and help you make the life-changing decision you will eventually have to face if you can answer ‘yes’ to any of the above questions.

I can give you information on the newest plans for folks such as you from banks, government and real estate buyers and investors. The only thing that remains constant is change, and as your real estate professional, I spend many hours each week in contact with bankers, investors, and short sale lawyers, accountants and other advisors to keep up to the minute on what’s happening in the marketplace. It changes almost daily, wo what you thought last week, or read in last week’s media may not be valid this week or next week.

Let’s talk about the following:
1. Avoiding foreclosure & the future problems that foreclosure can cause
2. Find out about forgiveness of deficiency
3. In many cases, dings to your credit score can be avoided or minimized
4. Yes, you can begin to rebuild your real estate assets immediately
5. After a short sale, there are non-traditional financing options available
6. Cash for keys from the bank
7. Sooner is better than later to deal with underwater housing
8. Short sales usually bring a higher value than a foreclosure
9. Laws continue to change, very quickly and very often, so stay up to date

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at mary.maxie@pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Arizona Short Sale Points to Ponder

Arizona Short Sale Points To Ponder

Have you ever thought about a short sale on your home? Are you underwater but still managing to make your payments every month? Or maybe you have no idea what to do do next, & have had to stop making mortgage payments?

I’d be happy to sit down and explain a few things to you, and help you make the life-changing decision you will eventually have to face if you can answer ‘yes’ to any of the above questions.

I can give you information on the newest plans for folks such as you from banks, government and real estate buyers and investors. The only thing that remains constant is change, and as your real estate professional, I spend many hours each week in contact with bankers, investors, and short sale lawyers, accountants and other advisors to keep up to the minute on what’s happening in the marketplace. It changes almost daily, wo what you thought last week, or read in last week’s media may not be valid this week or next week.

Let’s talk about the following:
1. Avoiding foreclosure & the future problems that foreclosure can cause
2. Find out about forgiveness of deficiency
3. In many cases, dings to your credit score can be avoided or minimized
4. Yes, you can begin to rebuild your real estate assets immediately
5. After a short sale, there are non-traditional financing options available
6. Cash for keys from the bank
7. Sooner is better than later to deal with underwater housing
8. Short sales usually bring a higher value than a foreclosure
9. Laws continue to change, very quickly and very often, so stay up to date

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at mary.maxie@pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Internet Tips You can use from Phoenix AZ

Internet Tips You can Use from Phoenix, AZ
Bookmark To Return Later: The Internet is crammed with interesting articles and sites. Many times we don’t have time to read them all at once. Instapaper is a quick and easy solution. It adds a bookmarklet to your browser that you can click when you want to save a page. You can return to the Instapaper website later to read the articles. You can download the articles to print out, or load them to your e-book reader. There’s even an iPhone app!

http://www.instapaper.com/

Help With Planning A Home Remodel: Look at a free copy of Sweet Home 3D.This software makes it easy to remodel and decorate individual rooms or a whole house. The program comes with dozens of 3D furniture models, and you can download more online. You’ll get blueprint-style plans, and you can explore a 3D representation. Print out your plans for quick reference. Free http://www.sweethome3d.com/index.jsp

Easier Video Editing: For smaller projects, try the free Avidemux. It’s mainly used for cutting, filtering and encoding videos. It can open major video formats, including AVI, WMV and MPEG. You can save edited videos in even more formats. Avidemux includes various filters for adjusting color and contrast, and adding simple special effects. If you have programming knowledge, you can even create your own filters. Free http://avidemux.sourceforge.net/

Give and Take Business Relations: Most businesses thrive on relationships, both with customers and other business people. The aptly named site Favo.rs focuses on improving your relationships with the latter by trading favors. Favo.rs is an online marketplace where you can connect with contacts in your line of business. You can request and provide professional help. As you provide favors for others, you’ll be building your own reputation, which can net you business favors in return. Sign in with Facebook, Twitter or LinkedIn to see what it can do for your business. http://favo.rs/signup

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at mary.maxie@pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Upbeat Findings for Arizona home market

Report: Upbeat findings for Arizona housing market
The median price of all home sales in metro Phoenix, including new homes, reached $120,500 in January. That compares with $113,166 a year earlier. The average price per square foot of Valley houses has climbed 3% since last year. There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011. “Many people think there’s a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area,” said analyst Mike Orr.
Read article – azcentral.com

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at mary.maxie@pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Mary’s Funny Real Estate Stories

Mary’s Funny Real Estate Stories: one person here for the first time, asked me what all the big mounds of dirt were around the area. Once I figured out what she was asking about, & stopped laughing, I had to tell her that those mounds are what passes for mountains around here! She’s used to skiing in the Canadian Rockies, so I guess she can be forgiven for not recognizing AZ mountains!

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at mary.maxie@pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Phoenix Real Estate Facts

Real Estate Facts:
-81% of adults view home ownership as the best long term investment they can make
-Due to increased affordability, 25% of people under the age of 35 are planning buy their first home within the next few years
-Mortage interest rates are at the lowest level in 30 years
-One in 3 Americans own their homes free & clear
-91.2% of mortgages are current, & only 3.75% are in foreclosure
-Two-thirds of Americans say that now is the bet time to buy a home.
-The median home price is 3.4 time the median household income
-In 2010, 20% of home buyers were single women & 12% were single men
-In 2010, 36% of buyers were under the age of 35.
-2010 home ownership levels will be around 66.9%
-By age group, 39% of under 35 year olds own their own homes, 65% of those aged 35-44 own their homes, 73% of these aged 45-54 own their homes & 79% of those aged 55-64 own homes.

Free Stuff from Mary@marymaxie.com
FREE Pickup of books, paperbacks, videos, CDs, sheet music, for VNSA Charity Book Sale
FREE Tips on Home staging your house for better showings
FREE Tips for First Time Home Buyers
FREE Tips for First Time Home Sellers
FREE The 10 Things Most Often Cited on Home Inspections
FREE Info on 180 day rule for foreign home buyers
FREE Info on FIRPTA Rules for foreign investors
FREE Info on what Canadian buyers of Arizona Real Estate need to know.
FREE shopping, golf, sports, Arizona Living info
FREE info on Great Canadian Picnic, & Canada Cup Golf Tournament
FREE Market News from www.marymaxie.com
Maxiemize Lifestyle with PhoenixAreaCanadianRealtor
Mary Maxie, Associate Broker, Prudential Arizona Properties 602-738-6597
GREEN Master of Real Estate, GRI, CRS, ABR, CSSR, SFR, CRMS, CIPS

Arizona Real Estate Prices Inching Upward

If you have been waiting for real estate prices in Arizona to go lower, I think that boat has already sailed. We are finding that prices are inching up about 2-4% every month. Multiple offers are common, usually far above list price, & many listings show up on the MLS as brand new, but already under contract. Most have several backup offers in the wings, in case the first contract doesn’t make it to closing.

Cash is king, & sellers, whether banks or short sellers, will always take a cash offer over a financed one. That’s why it’s imperative that before you make any offer, you have a bank confirmation of funds, or else an ironclad lender approval for funds.

If the house you want is in a good area, is in good shape, & is under $500,000, chances are good it won’t be on the market for long. Anything over $500,000 will last a bit longer on the market, but they are moving well too. The investors & house flippers have pretty well taken over the under $100,000 market, & fixeruppers are snapped up quickly. Then they are resold or held as rentals.

Market conditions change weekly, if not daily, so if you need information on anything to do with the Arizona Real Estate market, please call me for clarification. Don’t believe everything you read in the media or find on various websites. Talk to a professional.

Free Stuff from Mary@marymaxie.com
FREE Pickup of books, paperbacks, videos, CDs, sheet music, for VNSA Charity Book Sale
FREE Tips on Home staging your house for better showings
FREE Tips for First Time Home Buyers
FREE Tips for First Time Home Sellers
FREE The 10 Things Most Often Cited on Home Inspections
FREE Info on 180 day rule for foreign home buyers
FREE Info on FIRPTA Rules for foreign investors
FREE Info on what Canadian buyers of Arizona Real Estate need to know.
FREE shopping, golf, sports, Arizona Living info
FREE info on Great Canadian Picnic, & Canada Cup Golf Tournament
FREE Market News from www.marymaxie.com
Maxiemize Lifestyle with PhoenixAreaCanadianRealtor
Mary Maxie, Associate Broker, Prudential Arizona Properties
GREEN Master of Real Estate, GRI, CRS, ABR, CSSR, SFR, CRMS, CIPS

Why Canadians are buying Phoenix Real Estate

Phoenix real estate rises with Canadian buyers

By Dan Levy and John Gittelsohn, Bloomberg January 19, 2012

Bob Major returned to Phoenix in October in search of more bargains like the four empty houses he bought in 2010 at rock-bottom prices. The retired builder from Vancouver instead found real estate about 20 per cent higher and stiff competition.

“There’s been an extreme turn,” Major, 66, said in an interview at a Chandler, Arizona, pizzeria, sitting beside his wife, Wendy. “We put bids on 30 properties and only got two.”

The Phoenix housing market, down 55 per cent from peak values with more than two-thirds of borrowers owing more than their properties are worth, is starting to recover as demand grows and inventory shrinks. Sales rose in November for the 12th straight month on a year-over-year basis, and distressed real estate accounted for the smallest share of purchases since 2008, according to research firm DataQuick.

Values may increase 9 per cent this year in Phoenix, known as the “Valley of the Sun” for its desert climate and triple- digit summer temperatures, as homes in or near foreclosure are bought up, according to Clear Capital Inc. Bank-owned property, which made up two-thirds of sales at the May 2009 market trough, now accounts for only one-third, said Alex Villacorta, director of research at the real estate data company in Truckee, California.

‘Pain Was Greater’

Pending foreclosures in Maricopa County, where Phoenix is located, tumbled by almost two-thirds in two years to 18,325 this month, according to Mike Orr, publisher of the Cromford Report, a local housing information service. In December, first- time foreclosure filings in Arizona fell 41 per cent from the previous month to the lowest since 2007, data firm RealtyTrac Inc. said.

“The pain was greater here,” Orr said. “I think the reward for that is we’ll be out of the woods faster.”

Arizona’s bank-owned inventory has shrunk relative to other hard-hit housing states partly because courts don’t oversee property seizures, said Daren Blomquist, spokesman for Irvine, California-based RealtyTrac. It takes an average of 125 days to complete a bank-owned home sale in Arizona, compared with 217 days in Florida, a “judicial state” with a foreclosure glut, according to the company. The U.S. average is 193 days.

The winnowing has boosted the average Phoenix property sale to $85 US a square foot in December, up 7.6 per cent from the market bottom in August, according to Orr, who is also the real estate center director at Arizona State University’s W.P. Carey School of Business. Prices are still down from a peak of $190 US a square foot in June 2006, he said.

Only Gainer

“I never would have believed what Phoenix has gone through, but the data speaks for itself,” said Karl Case, co- founder of an S&P/Case-Shiller home-price index that showed the metropolitan area as the only gainer among its 20 members in October. “When prices fall that much and interest rates are this low, it’s got to be the case that the markets begin to clear.”

The upturn follows more than five years of decline, the worst housing bust in a city where home construction for new Arizona residents has been the path to economic growth, Phoenix Mayor Greg Stanton said in a telephone interview. Falling U.S. prices and bloated consumer debt have arrested mobility, trapping owners who can’t sell their homes, according to Orr.

Jobs Lost

Arizona lost about 324,000 jobs in three years — about one-third in construction — before employment bottomed in September 2010, U.S. Bureau of Labor Statistics data show. The state added about 45,000 jobs last year. At that pace, it will take until 2015 to reach pre-bust levels, said Lee McPheters, director of Arizona State’s JPMorgan Chase Economic Outlook Center.

Even with fewer foreclosures and prices turning, Phoenix has the sixth-highest U.S. metropolitan rate of foreclosure filings per household, according to RealtyTrac. Phoenix led the 25 largest U.S. metropolitan areas with two-thirds of its mortgaged homes in negative equity at the end of the third quarter, Zillow Inc. said. Across the nation, 29 per cent of all mortgaged homes were “underwater,” meaning the properties were worth less than their loan balances.

Buying Repossessed Homes

Steep discounts have lured investors such as American Residential Properties LLC, which used more than half of a $100 US million fund to buy 800 Phoenix-area homes at an average price of $120,000 US, some down from as much as $400,000 US five years ago, said Laurie Hawkes, president of the Phoenix-based company. It’s now teaming with New York-based Ranieri Partners LLC on a proposal to buy repossessions from government mortgage companies Fannie Mae and Freddie Mac and manage the properties as rentals.

“Phoenix appears to be leading the nation in terms of major metropolitan areas that are recovering,” Hawkes said. “It’s considerably faster than many people thought.”

Bargain-hunting also attracted flocks of Canadians taking advantage of a 28 percent currency gain versus the U.S. dollar since March 2009 — and winters with an average January high of 19 degrees Celsius. Canadians edged out Californians last year as the largest group of outside buyers, with 4.2 per cent of purchases, Orr said.

“Six Arizona Months

Major, the retired Vancouver homebuilder, spent $400,000 US for four properties during his 2010 investment foray, including a three-bedroom foreclosure that he fixed up as his own winter residence. He plans to spend six months a year in Arizona.

“There were so many listings the first time, you could really take your pick,” Major said at the pizza restaurant, where teenagers in shorts ate ice cream outside. “Now you can’t bargain nearly as much. The whole attitude is different.”

A property similar to a house that Major bought for $85,000 US in 2010 sold in October for about $102,000 US, he said.

Stanton, a Democratic former city councilman who was elected mayor in November, said Phoenix needs to move from a reliance on housing cycles toward more sustainable technology and health-care jobs. His idea for a health and science development, to be built on 240 hectares northeast of downtown, was announced in his Jan. 3 inauguration speech. It has the support of the Mayo Clinic and Arizona State University, which would be partners in the project, Stanton said.

Phoenix Hit Hard

“Being disproportionately dependent on single-family homes is the reason why this recession hit Phoenix so hard,” said Stanton, himself the owner of an underwater house in central Phoenix that he purchased in April 2007.

The hoped-for employment shift may already be under way. Intel Corp. broke ground last year on a $5 US billion plant in Chandler, about 32 kilometers southeast of downtown Phoenix, that will require “thousands” of temporary construction and permanent jobs, said Laura Anderson, a spokeswoman for the world’s largest semiconductor maker. PayPal, an online payment service owned by EBay Inc., plans more hiring after adding 700 jobs in 2011, said Sara Gorman, a spokeswoman for the unit.

Phoenix had 30,000 of the state’s new positions in the 12 months through October, led by health care, transportation and warehousing jobs, McPheters said.

Health-Care Growth

The proposed campus is “very exciting” and would attract startup companies as well as international firms, said Wyatt Decker, chief executive officer of the Mayo Clinic’s Arizona branch in Phoenix, which employs 400 physicians and scientists and a total staff of 5,000. The state’s health-care sector has grown even during the real estate recession, he said.

“We’re all rowing in the same direction,” Decker said of policy makers such as Stanton and education and science executives.

Even homebuilding has revived. Single-family construction permits are expected to climb to 11,300 this year, up 66 per cent from a 2010 low, according to the average estimate of 13 Phoenix market analysts surveyed by Arizona State University.

Meanwhile, investors like Major peck away at the real estate overhang. Time spent in his new $25,000 US outdoor spa, the biggest cost of his foreclosure renovation, is a world away from frozen Canadian winters, he said.

“We like it at night before bed, when it’s warm and all the stars are out,” he said. “There’s an awful lot of rain and dullness in Vancouver from October to April. And it’s cold.”

© Copyright (c) The Vancouver Sun

Short Sale Foolishness

Short Sale Foolishness
Picture this scene: you & I are both underwater on our houses. Our two banks are willing to short sale both houses for 40% less than what we owe. Banks will allow us to sell to each other (with some finagling & changing things around) & have to move into each other’s houses, but won’t let us stay in our own homes and give us 40% off. How foolish! If the bank would take 40% off plus lower the interest rate we’re paying to what they are offering new borrowers, we could afford to stay in our own houses & make the payments. Yet they make us move out & rent for a couple of years, before allowing us to take out another mortgage on another underwater house & make those sellers move. The whole thing is a mess.

Want to know more about the Phoenix Scottsdale home scene?
Interested in learning about short sales & how they affect your credit?
Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at www.marymaxie.pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Mary’s Funny Real Estate Stories

Mary’s Funny Real Estate Stories: Out showing houses & stopped for lunch with clients. My (male) client sat down & asked if I minded if he took off his leg. Even though he had shorts on, his leg was so realistic I hadn’t noticed that it was a prosthesis. So he took it off, & as we were leaving, he took it out from under the table, & re-attached it. You just never know what is going to happen when you are showing houses!

Want to know more about the Phoenix Scottsdale home scene?
Interested in learning about short sales & how they affect your credit?
Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at www.marymaxie.pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Mary’s funny Real Estate Stories

Mary’s Funny Real Estate Stories: Great house, great neighborhood, great price. Problem? block retaining wall/fence behind, belonging to commercial building, was leaning precariously toward the house. It had been water eroded, & cars from the parking lot above had run into the wall, which looked like it would fall into the yard & onto the house at any moment. Bank refused to do anything about it, like contact the commercial building mgr or have an erosion test done, or shore up the fence, so buyer walked. Banks get away with anything these days.

Want to know more about the Phoenix Scottsdale home scene?
Interested in learning about short sales & how they affect your credit?
Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at www.marymaxie.pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Mary’s Funny? Real Estate Stories

Mary’s funny? Real Estate Stories: Went to show a house built in 1994, which hadn’t been cleaned since it was new. that wasn’t the worst part. Worst was that in one of the bedrooms there was brown spatter all over the walls, ceiling, floor, window, that looked suspiciously like blood spatter! E-w-w-w. Why doesn’t the bank clean up stuff like that before it goes on the market? If there was a murder or suicide in the house, it’s a disclosure issue, & people have to be told, so they can make up their minds if they want to live there or not. I know I wouldn’t want to live there!

Want to know more about the Phoenix Scottsdale home scene?
Interested in learning about short sales & how they affect your credit?
Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home at www.marymaxie.pruaz.com
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

Phoenix Real Estate Report Dec 2011

Hello!

Here is the Market Update through the end of December 2011. Please note that the Valley Wide graph represents all of the MLS. The table below that graph just represents recordings for new and re-sales for Maricopa County.

Inventory (All Areas & Types in MLS): Total active listings have dropped by 1376 units over the beginning of last month. As of January 11, we sit at 25,342 Actives for Single Family Homes and Condos. Sales are at 7042 for the last 30 days (as of January 11th), up by 53 units from December 2011. We are currently sitting at a 3.6 months of supply. If you subtract out the AWC Contracts (which are included in Actives in the Cromford Report), we are at an approximate 3.0 months of supply. Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to take listings!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 32% of the Closings for December (compared to 30% in November) and 36% of the active Listings for a 3.9 Months of Supply. Distressed Sales (Short Sales and REOs combined) accounted for 59% of the total sales for December. REO Sales have taken a dramatic drop to 27% of the sales from 30% last month. The listing success rate for Short Sales is 60.8%! Don’t avoid these listings! They are closing with greater success rate!

Closings (Maricopa County: New Construction and Re-Sales): There were 7806 closings in December 2011 vs. 6975 closings in November 2011, which equates to a 11.9% increase. There were 6991 closing in December 2010, which is a 11.7% year-over-year increase for 2011. And, for the entire year of 2011, there was a 9% increase in sales over the year of 2010!

Reality Check: The Median Sold Price for Maricopa County for December 2011 was $129,214, which is up .4% from November 2011. In December 2006, the Median Sold Price was $265,000! In December 2000, the Median Sold Price was $138,286. Use this at your listing appointments to help explain what has happened to our market and get realistic list prices!

Luxury: The Luxury Market of $1,000,000+ continues to have the lowest absorption rate of any market segment. There was a 6% absorption rate for the month of November. Only 66 properties in all of the MLS were sold for more that $1,000,000 in December 2011.

Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, SOI and Open Houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales & Marketing, then Market Update for this info as well!

CLICK HERE FOR CURRENT GRAPHS

MONTHS OF SUPPLY

East Valley: 2.5

NorthWest: 3.6

Paradise Valley: 8.8

Luxury ($1mil+): 16.4

Southwest: 2.7

Peoria/Glendale: 2.6

Camelback Corridor: 3.7

Cave Creek: 4.3

Ahwatukee: 2.9

Scottsdale: 5.7

Apache Junction: 3.3

Fountain Hills: 6.6

Buckeye: 3.1

Desert Ridge & Tatum Corridor: 1.9

Phoenix Real Estate Market Report Nov 2011

Phoenix Real Estate Market Report Nov 2011
Greater Phoenix – Single Family Detached

Market Headlines

· In every price range, sales prices in $/SF are now higher than a year ago.

· Inventory is still falling below $200,000 and constraining sales volumes.

· Above $200,000, supply is rising and demand remains relatively weak.

· After a noticeable weak patch during the summer, prices have regained strength.

· Lender-owned inventory is falling fast, especially at the lower price levels.

· Short sales are overtaking foreclosures as the primary mechanism to resolve mortgage debt problems.

1. Homes under $100,000

Summary: Supply getting tight and now constraining the market. Prices are rising and are now 2.7% higher than last year.

2. Homes Between $100,000 and $200,000

Summary: Supply lower and demand holding. Pricing is on a firm upward trend.

3. Homes Between $200,000 and $400,000

Summary: Supply is higher and demand is still unimpressive. Nevertheless, pricing remains extremely stable.

4. Homes Between $400,000 and $800,000

Summary: Supply is up only slightly and demand is stronger. Prices regaining ground lost in August and September.

5. Homes over $800,000

Summary: Supply is growing while demand remains below par. However prices remain remarkably stable.

Want to know more about the Phoenix Scottsdale home scene? Call or email mary@marymaxie.com for free info on the following:
*Register for frequent MLS updates on your new Arizona Home
*Disclosure issues affecting Phoenix Home buying
*Shopping, Golf, Sports, Critter Report, Arizona Living
*Maxiemize Lifestyle with PhoenixAreaCanadianRealtor 602-738-6597
Mary Maxie, Associate Broker, Prudential Arizona Properties
Frequent updates at my blog www.marymaxie.com

We all Need Referrals, Even Phoenix Realtors–Think About It!

We all need referrals—think about it
When you need a new hairdresser, doctor, car mechanic, painter, plumber, electrician, landscaper, or whatever, what do you do? You call your friends and relatives and ask them who they know, who has done the best job for them, who has the best prices,

When you look for a job, you ask friends to put in a good word for you at their offices. When you want to take a cruise, you ask people about the cruises they went on, and take their advice about which one was best. You also want to patronize the services with the best customer service record, the fastest response time, the most education and experience.

You may not need a realtor now, but perhaps your neighbor wants to sell, or your friends from Ohio want a winter place, or your parents are downsizing, your workmate has decided to sell or buy, or your friends who are expecting a baby need a larger place. I appreciate your referrals more than you can ever know. I have the education, experience, and know-how (note all those letters after my name, and see if anyone else you know can claim as much education and training) to help anyone you know to make the best deal, at the best price, with the least hassle. I take very good care of all my clients, and help them avoid the pitfalls and problems of buying/selling or investing in a home. Please continue to refer to me, and thanks for all the referrals of the past years.

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Mary Maxie, Associate Broker, Prudential Arizona Properties
GREEN Master of Real Estate, GRI, CRS, ABR, CSSR, SFR, CRMS, CIPS