Arizona Regional Multiple Listing Service (ARMLS) January Reports

Posted on January 9, 2012 by Michele

The Arizona Regional Multiple Listing Service (ARMLS) January reports are now available. These reports contain the numbers thru the PREVIOUS month. The STAT and the ARMLS PPI reports are in a PDF format.

The 1st report is the STAT report. It provides the most current market statistics. It is  published monthly.

The 2nd report is the ARMLS Pending Price Index™ (ARMLS PPI). This report predicts the direction of the market three months into the future based on pending sales in flexmls. The PPI Supplement focuses on new pending properties added each month to the MLS system and includes analysis and $/SQ FT at various price points.

Click the following link to access the January issue of STAT

Click the following link to access the January issue of ARMLS PPI

Current and back issues of STAT and ARMLS PPI™ are available on the ARMLS website at:  Stat Library

 

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Fountain Hills best kept secret: The Lake Overlook Trail

Posted on January 3, 2012 by Michele

Due to the New Year’s holiday, I was fortunate to enjoy some much needed downtime for the past two days. Coincidentally, the weather has been nothing short of amazing and beautiful so I have been taking advantage of it by spending my free time outdoors.

Sunday afternoon I enjoyed a leisurely stroll around Fountain Park with my dogs, Willie and Remi, and a friend that is in town visiting from Washington, DC.

Late Monday afternoon I wanted to take a hike but I did not feel like driving too far from home so I decided to go to my favorite local hidden gem and best kept secret in Fountain Hills, the Lake Overlook Trail. It is a 1.17 loop trail and is a 2 out of 5 in terms of difficulty.

To access the Overlook Trail you can park on the east side of Fountain Park, just off of Panorama Drive. Cross the street and head left. You will see a small green sign that marks the entrance to the trail.

After entering the trail you will start climbing up the hill. This is the steepest part of the trail. Once you get to the top of the ridge you will be at the highest point, about 200 feet above Fountain Park. The views from here are simply breathtaking and nothing short of amazing, kinda like the AZ weather lately! To the Southeast you can see the Goldfield, Usery and Superstition Mountains, to the Southwest you see Fountain Park, looking west you see most of the town of Fountain Hills and the McDowell Mountains and to the east and northeast is the Mazatzal mountain range and Four Peaks.

Continuing on the trail you will wind thru a few switchbacks and climb up another fairly steep incline before leveling off. The trail ends in the Diamante Del Lago community. Most people follow the street and go back to the parking lot at the fountain.

Personally I like a little more of a workout so I always turn around and hike back the way I came. Moving at an even and steady pace it takes me about 40 minutes to complete the 2.35 roundtrip hike.

Most days, and yesterday was no exception, I topped it off with a lap around Fountain Park to add an additional 1.15 miles to my total for the day.

 

Posted in Fountain Hills News & Events, Outdoor Exploring | Leave a comment

Active listings in Phoenix are hard to come by

Posted on January 2, 2012 by Michele

I have quite a few active buyers that are currently looking for homes to purchase in and around Phoenix. They are growing increasingly frustrated due to the difficulty to find a home to purchase.

As 2011 came to a close, I had written several offers for each, closer to a dozen or more offers for my investors buyers, and not once of the offers we have written has been accepted by the seller in the past month.

Why? What we are seeing in the under $100k price point and $100-$200k price points are multiple offers within hours of listing the home for sale and requests for highest and best from the seller (usually a bank) that are driving the prices up over current market value for similar type homes.

Here is a snapshot of the current active inventory for the Phoenix Metro Area:

  • 18,250 Total Active listings
  • 14,310 Active Single Family listings
  • 351 Patio Home listings
  • 1124 Active Townhouse listings
  • 1144 Condo listings
  • 258 Gemini/Twin Home listings
  • 1005 Manufactured Home listings
  • 20 Mod/Prefab Home listings
  • 38 Loft listings

If you are looking for a home anywhere in the Phoenix Metro area under $200k be prepared to act immediately and expect to have some fierce competition.

If you are interested in getting additional information for a particular city, feel free to contact me directly.

 

 

 

 

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Phoenix Residential Real Estate 2011: Year in Review

Posted on December 27, 2011 by Michele

As 2011 draws to a close I spent some time looking back on my past year’s sales to assess what I did, and did not accomplish in my real estate business. I analyzed my sales and income to determined if I was able to meet the goals I had set for the year.  Based on this analysis I try to set my goals and expectations for the upcoming year.

The good news is that I did twice as many transactions in 2011 as I did in 2010.  The bad news is my income was only up 30% from from previous years earnings. I also worked alot more days/hours than I have had to work in previous years. I attribute this to a few different factors: a) Prices continued to fall, especially in the outlining areas, in the Phoenix metro area in 2011, b) I worked a lot more with investor and owner occupant buyers that were looking for homes in much lower price points than I have sold in previous years and c) I had 7, yes SEVEN transactions in escrow that DID NOT close this year.

I will outline my 2011 transactions for you so hopefully you can gain some insight into what sold, where the homes were selling, what they sold for, the types of sellers, and who bought in the Phoenix metro area in 2011.

Summary of 2011 Goals:

  • 93% of my 2011 Total number of Transactions Goal.
  • 82% of my 2011 Total Income Goal.

2011 Breakdown of Transactions:

  • 79% Buyer Transactions.
  • 14% Tenant Transactions.
  • 7% Out of State Listing Referrals.
  • 0% Listed for sale or rent in 2011. It is not that the opportunity to do so was not presented to me. I referred the rental listings to agents that specialize in leasing and I chose not to list homes for sellers with unrealistic expectations.

Breakdown of Buyer Transactions:

  • 18% condo sales. All in Glendale.
  • 82% single family home sales in Gilbert, Glendale, Mesa, and Anthem.

Price Range of Sales:

  • 18% up to $50,000
  • 18% from $50,001-$100,000
  • 36% from $100,001-$150,000
  • 28% from $150,000-$200,000
  • My lowest sale price was a condo in Glendale which sold for $28,000.
  • My  highest sale price was a single family home in Gilbert which sold for $191,000.

Buyer Profiles:

  • 36% single family homes sales (all in Gilbert) to Canadian investors purchased to use as rental property.
  • 9% condo sales to Canadian investors to use as a rental property.
  • 28% single family homes to owner occupants.
  • 9% condo sales to owner occupants.
  • 18% single family homes sold as 2nd home purchases (buyers live in AZ already) purchased to use as rental property.

Seller Profiles:

  • 55% of the single family homes and condos were short sale listings. 28% were required to pay more than their original offer price.
  • 18% of the single family sales were REO’s or bank owned listings. 50% sold for
    slightly less than list price. 50% sold for more than original list price.
  • 9% of the single family homes were traditional sellers.
  • 18% of the single family homes and condos were “fix and flip” sellers.

Types of Purchases:

  • 55% were purchased with cash.
  • 45% were purchased with financing.  20% of the financed purchases did NOT appraise for the amount offered on the Purchase Contract and the seller had to adjust the sale price to the appraisal price in order for the sale to close escrow.

2011 Transaction in Escrow that did not successfully close:

  • 2 different Investor Short Sale offers. Buyer was required to open escrow at seller
    acceptance of offer (not seller’s lender acceptance). Buyer changed his mind and decided to purchase other properties instead.
  • Owner occupied HUD home sale. Buyer cancelled after home inspection when it was determined that the home needed too much work and most likely lender would not approve their loan based on the amount of repairs needed to the home.
  • Owner Occupied Short Sale offer. Buyer opened escrow at seller acceptance and waited 3 months for seller’s lender response to their offer. Seller’s lender denied
    seller request to sell short due to the fact the seller was not delinquent on their loan.
  • 2nd home/Investment Purchase on a Short Sale.  Buyers made offer. Offer was accepted. Buyer opened escrow then got nervous about their decision to buy an investment property and cancelled prior to seller’s lender acceptance.
  • Owner Occupant Short Sale Condo Purchase. Buyer’s lender denied their loan even though the buyer’s were fully qualified based on the instability and delinquencies of the Home Owner’s Association.
  • Owner Occupied Lender Owned Purchase. Buyer’s offer was accepted by  seller/bank. Inspections were performed then buyer was notified by title there was an HOA. Buyer cancelled offer based on HOA disclosures.

My conclusions for 2011 can be summed up pretty easily; once again it was a *doozie* of a  year for full-time residential real estate agents in the Phoenix Metro area. I definitely was not immune to the trials and tribulations that this year brought to the table and as a result I will be happy to see 2011 come to an end.

Here’s to hoping for a better 2012 in Phoenix Residential Real Estate!

Posted in Market Stats/Analysis | 2 Comments

Keeping Your Pets Safe During the Holidays

Posted on December 19, 2011 by Michele

Lights, decorations, good food… every year, as we celebrate the holidays, we fill our homes  with seasonal cheer for ourselves and our families. However, what may seem beautiful and harmless to us may pose hidden dangers to our pets. Here are some common holiday hazards for dogs and cats:

Dangerous Foods: The following can be toxic to pets: chocolate, raisins, grapes,  macadamia nuts, garlic, onion, alcohol, caffeinated beverages, bread dough, and sugar-free
candy and gum containing the artificial sweetener xylitol.

Regular Foods: Despite tradition, bones should never be given to pets. Even beef, ham, and other “regular” foods that are not considered toxic can cause illness in pets. If your pet is a moocher, keep a saucer of his regular treats on the table to offer when he asks. He probably won’t know the difference!

New Treats and Toys: Even a pet-safe treat can cause stomach upset if it is new to your  pet. Offer only one of these at a time (ideally, separated by a few days). If your pet becomes
ill after eating a holiday treat, it will be easier to trace the source and discontinue it. Also, check new toys for sharp edges, pieces that can be chewed off, or other potential hazards.

Plants: Hazardous plants include mistletoe, some evergreens (including some types of pine), and holly bushes and berries. Try to keep these plants away from pets, or at least
supervise pets when dangerous plants are nearby.

Decorations: Tinsel, tree ornaments, ribbons, string, and garlands are some items that can be dangerous if eaten by pets. Keep these items away from pets — especially when
pets are unattended. Don’t forget to cover any electrical cords or keep them out of reach.

Fire and Carbon Monoxide: Monitor pets near fireplaces, wood-burning stoves, candles, and portable heaters. Also, don’t forget to check smoke detectors and carbon
monoxide detectors to make sure they are functioning properly. Space heaters, furnaces, and idling cars (in a garage) can increase the risk of carbon monoxide poisoning in pets and humans.

Christmas Trees: Monitor your pets when they are around your holiday tree. Pets may eat the needles (even from artificial trees) or drink water from the base of the tree, which
can be toxic (especially if there are preservatives in it). Keep electrical cords and decorative lights out of reach, too.

I hope you find these tips useful. Happy Holidays!

Posted in Household Tips, Random Thoughts | Leave a comment

Arizona Regional Multiple Listing Service (ARMLS) December Reports

Posted on December 9, 2011 by Michele

The Arizona Regional Multiple Listing Service (ARMLS) December reports are now available. These reports contain the numbers thru the PREVIOUS month. The STAT and the ARMLS PPI reports are in a PDF format.

The 1st report is the STAT report. It provides the most current market statistics. It is  published monthly.

The 2nd report is the ARMLS Pending Price Index™ (ARMLS PPI). It predicts the direction of the market 3 months into the future based on pendings sales in flexmls.

The PPI Supplement analyses pending properties added to the system in the current month only, focusing on average and median prices, total units, and % of total units for that month in specific price ranges. It then compares the current month pendings with pendings from the preceding 3 months. The PPI Supplement has been expanded to include price/square foot data for new pendings each month.

Click the following link to access the December issue of STAT

Click the following link to access the December issue of ARMLS PPI

Current and back issues of STAT and ARMLS PPI™ are available on the ARMLS website at: http://www.armls.com/statistics/stat-library?utm_source=iContact&utm_medium=email&utm_campaign=Communication&utm_content=STAT+Dec+2011

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Arizona Regional Multiple Listing Service (ARMLS) November Reports

Posted on November 9, 2011 by Michele

The Arizona Regional Multiple Listing Service (ARMLS) November reports are now available. These reports contain the numbers thru the PREVIOUS month. The STAT and the ARMLS PPI reports are in a PDF format.

The 1st report is the STAT report. It provides the most current market statistics. It is  published monthly.

The 2nd report is the ARMLS Pending Price Index™ (ARMLS PPI). It predicts the direction of the market 3 months into the future based on pendings sales in flexmls.

The PPI Supplement analyses pending properties added to the system in the current month only, focusing on average and median prices, total units, and % of total units for that month in specific price ranges. It then compares the current month pendings with pendings from the preceding 3 months. The PPI Supplement has been expanded to include price/sq.ft. data for new pendings each month.

Click the following link to access the November issue of STAT

Click the following link to access the November issue of ARMLS PPI

Current and back issues of STAT and ARMLS PPI™ are available on the ARMLS website at: http://www.armls.com/statistics/stat-library?utm_source=iContact&utm_medium=email&utm_campaign=Communication&utm_content=STAT+Nov+2011

 

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People and their Pets Costume Contest: Saturday, October 29, 2011

Posted on October 28, 2011 by Michele

Yesterday I wrote a post about the upcoming Halloween in the Hills event coming up this Saturday in Fountain Hills. Today I want to highlight an event within the event, the People and their Pets Costume Contest.

There will be vendors on site with dogs available for adoption. I will be there with Lost Our Home Pet Foundation so if you come out for this event, please stop by and say hello.

Event details:
Dress up your pet (and yourself if desired) in your favorite Halloween costume, enter the contest and be eligible to win a prize. Entry forms for the People and their Pets Costume Contest can be downloaded at: http://www.halloweeninthehills.com/uploads/7/3/8/3/738397/pets__their_people_registration_form_2011.pdfhttp://www.halloweeninthehills.com/uploads/7/3/8/3/738397/pets__their_people_registration_form_2011.pdf

Arrive at Sami Fine Jewelry located at 16704 Ave of the Fountains at 3pm to register to enter your pet in the contest. Each Category costs $5.00 per pet, per entry, and all proceeds (and all other donations at event) will be split between Pal’s Inn Rescue and the Boys and Girls Club.

Categories include:
All Size/Breed Categories:
“Best Human + Pet Combo”
“Scariest Pet Costume”
“Cutest Pet Costume”

Dog Categories:
Small Dog “Best Costume”
(15 pounds and under)
Medium Dog “Best Costume”
(15 pounds – 40 pounds)
Large Dog “Best Costume”
(40 pounds and up)
“Best Trick”
(All pets)

 

 

 

 

 

Posted in Fountain Hills News & Events | Leave a comment

Halloween in the Hills: Saturday, October 29th, 2011

Posted on October 27, 2011 by Michele

Time for one of my favorite holidays, Halloween. My first year in Fountain Hills I went to the store and bought 6 bags of candy to stock up for Halloween. I waited in anticipation for the cute little kids to show up in their costumes, but not one came.  I was so disappointed, but ate the candy myself.

Year 2 rolled around and I did the same, bought the candy, no one came, and I ate it.

It wasn’t until year 3 of living in Fountain Hills that I discovered our little town does things differently. Each year they have a celebration on the Avenue of the Fountains for Halloween. The kids trick or treat there, where it is safe (no street lights allowed in our town) and the local merchants distribute the candy to the trick or treaters.

Well, its that time of year again. The Annual Halloween In the Hills event takes place this Saturday, October 27, 2011 from  4pm – 7pm. Merchants will be handing out popcorn, candy and treats. There will be bouncers and games set up on the Avenue for the kids too so come on out and enjoy the festivities.

 

 

Posted in Fountain Hills News & Events | 1 Comment

Arizona Regional Multiple Listing Service (ARMLS) October Reports

Posted on October 7, 2011 by Michele

Arizona Regional Multiple Listing Service (ARMLS) October reports are now available. These reports contain the numbers thru the PREVIOUS month. The STAT and the ARMLS PPI reports are in a PDF format.

The 1st report is the STAT report. It provides the most current market statistics. It is published monthly.

The 2nd report is the ARMLS Pending Price Index™ (ARMLS PPI). It predicts the direction of the market 3 months into the future based on pendings sales in flexmls. This month ARMLS is introducing the PPI Supplement which analyses pending properties added to the system in the current month only, focusing on average and median prices, total units, and % of total units for that month in specific price ranges. It then compares the current month pendings with pendings from the preceding 3 months.

Click the following link to access the October issue of STATS

Click the following link to access the October issue of ARMLS PPI

Current and back issues of STAT and ARMLS PPI™ are available on the ARMLS website at: http://www.armls.com/Statistics/STATLibrary.aspx?utm_source=iContact&utm_medium=email&utm_campaign=Communication&utm_content=STAT+Oct+2011

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