The market heated up across the county over the past 60 days and activity is still strong--here's our Phoenix metro April 2017 real estate market update. While the average days on market for active listings (116) and sold listings (74) are basically unchanged from recent months, the number of sales in April far exceeds the number of closed sales over the first quarter. You may want to review our Phoenix metro 1st quarter update if you missed the post. Here are some stats taken from the Arizona Regional Multiple Listing Service: 19,529 Actively listed properties 7469 Pending sales 9796
Phoenix Metro 1st Quarter Real Estate Update
Phoenix Metro Real Estate Update With March 2017 in the books, it's time for our Phoenix metro 1st quarter real estate update. Let's start with a few stats taken from the Arizona Regional Multiple Listing Service: Active listings: 19736 Pending Sales: 13687 Sold Homes Since Jan 1, 2017: 20,284 Overall, activity has picked up across the Phoenix metro area. We are seeing more buyer activity, spurred in part by a drop in interest rates. The average days on market for active listings in all price ranges is 118 and the average days on market for all pending sales is just 73. As a
Top 5 Tips for Home Sellers
Tip #1: Find Out What Your Home is Really Worth Before you do anything, it's important to find out what your home is worth in today's market. There are so many factors to consider when determining an appropriate list price--factors such as curb-appeal, age, condition, location, upgrades, neighborhood amenities, current market conditions, seller motivation, possible negative influences such as power lines, busy roads and much more. You can use Zillow's "Zestimate", but this would not be a figure that you should rely upon to make such an important decision. Agents can look up your home
Community Facility Districts in Scottsdale
What Are CFD’s Anyway? I recently had a client ask me what a CFD (or Community Facility District) is and I got to thinking that there are probably other folks who would like to know more about these things. CFD’s are special districts, often called Improvement Districts, that are formed for the purpose of construction, operation/maintenance and finance acquisition of the common area (public infrastructure) benefiting planned communities. There are a few community facility districts in Scottsdale and many more throughout Maricopa County and Arizona. In Scottsdale, there are four CFD’s that
Arizona Escrow Process Explained
So, what the heck does “escrow” mean anyway? Well, an escrow is generally defined as: A process wherein a buyer and seller provide documents, instructions and funds to a neutral third party (title company or escrow company) until certain conditions are fulfilled. In Arizona, a buyer doesn’t pay a seller directly for the property, but rather deposits funds with a title company–the title company, acting as an intermediary, handles all funds and verifies that all written instructions in the contract have been met. Back East and in some other parts of the country, attorney’s are used to
FHA Approved Scottsdale Condos
There are approximately 30 FHA approved Scottsdale condos -- this list was curated in September of 2016 so most of these communities, if not all, should still be FHA approved in 2017. There are a number of different factors which can account for an FHA approval/denial and as a condo buyer, it's important to know going into the deal, whether or not the community in question is approved or not. The information below was provided by Jeremy House and the House Team with Prime Lending. Jeremy is one of the top 200 mortgage originators in the country and his team does a fantastic job with FHA
February 2017 Maricopa County Real Estate Market Update
February has brought a small uptick in terms of real estate activity--Here’s our February 2017 Maricopa County Real Estate Update. Let’s start with a few key stats taken from the Arizona Regional Multiple Listing Service: #OF ACTIVE LISTINGS: 19,855 #OF PENDING SALES: 12,560 #OF CLOSED SALES IN PAST 30 DAYS: 6,596 #OF DISTRESSED PROPERTIES: 416 As a percentage of total active listings, “distressed” inventory still accounts for just two percent of available housing inventory–we consider distressed properties to be the following type of listings: auction, pre-foreclosure, bank owned
January 2017 Maricopa County Real Estate Update
While markets often take a dip when the Presidency changes hands, so far things have been pretty calm in terms of real estate. Here's our January 2017 Maricopa County Real Estate Update. Let's start with a few key stats taken from the Arizona Regional Multiple Listing Service: #OF ACTIVE LISTINGS: 20,090 #OF PENDING SALES: 10,237 #OF CLOSED SALES IN PAST 30 DAYS: 5,456 #OF DISTRESSED PROPERTIES: 457 As a percentage of total active listings, "distressed" inventory account for just two percent of available inventory--this represents a one percent drop from 60 days ago. Active inventory
2016 Phoenix Real Estate Market Recap & 2017 Outlook
2016 is almost in the books and while activity in the upper price ranges has been somewhat stagnant for much of the year, activity across most price ranges improved over the past 45 to 60 days. Here is our 2016 Phoenix real estate market recap and 2017 outlook. There are a little over 20,000 active listings across the county and we have hovered around 20,000 to 22,000 units for the past 18 months or more. This supply is a bit low, but not overly so. In the upper price ranges, there is excessive supply in many neighborhoods. Below $250k, inventory is still moving well and in Scottsdale,
Maricopa County Sept 2016 Real Estate Update
Let's take a look at the real estate market as of 9/30/2016--Here's our Maricopa County Real Estate Update Sept 2016. A few highlights from our multiple listing service (MLS): There are 20,246 active listings--this includes all home types. Inventory has remained relatively stable all year. There are 10,878 listings that are under contract. The average days on market for active listings is 120. There have been 7346 closed sales in the past 30 days and the average days on market for recently closed sales is 72. The median home price (closed sales) for the past 30 days was
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