Adam's Blog

Desert Ridge April '13 real estate stats

Mon, 06 May 2013 15:39:14 -0700

April 2013 saw a total of 42 home sales in the Desert Ridge area. As of this writing there are 81 active listings, This brings the inventory level to only 1.93 months worth of supply based on the April sales. There are currently 63 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!

Total April sales: 42
Average Price Per foot: $173.97
Sale price as a percentage of list price: 99%
Average sale price: $370,686
Median sale price: $339,000
Average Days on market: 60

This breaks down by type as follows:

Single Family Detached Homes
Sale: 32
Average Price Per foot: $168.25
Sale price as a percentage of list price: 100%
Average sale price: $396,561
Mdeian sale price: $387,350
Average Days on market: 63

Condos and Townhomes:
Total sales : 10
Average Price Per foot: $191.71
Sale price as a percentage of list price: 97%
Average sale price: $290,475
Average Days on market:51

Adam Tarr PC
Citywide Real Estate
480-236-7374

April 2013 market update for Phoenix, 85050

Mon, 06 May 2013 15:23:53 -0700

April 2013 saw a total of 52 home sales in the 85050 Zip code of Northeast Phoenix. As of this writing there are 69 active listings and 104 under contract within 85050, so the inventory levels are just under one month's worth of supply based on the April sales. 85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix. Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more. The junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total April sales:52
Average Price Per foot: $151.05
Sale price as a percentage of list price: 99%
Average sale price: $312,396
Average Days on market: 43

This breaks down by type as follows:

Single Family Detached Homes
Sale: 47
Average Price Per foot: $150.08
Sale price as a percentage of list price: 99%
Average sale price: $318,441
Average Days on market: 45

Condos and Townhomes:
Total sales : 5
Average Price Per foot: $159.92
Sale price as a percentage of list price: 99%
Average sale price: $256,780
Average Days on market:24

Prices for all properties ranged from $144,900 for a 3/2.5 town home to $640K for a Single family home in Aviano at Desert Ridge with 4/3.5 and 3365 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

Something cooler to do May 4-5

Thu, 02 May 2013 13:27:46 -0700

Temps are already heating up here in the Valley of the Sun. We had our first 100 degree days this week. That's a little ahead of the average first 100 degree day, and definitely too soon for most people. We can bet on most days above 90 for quite a while now. If you aren't sticking around the Phoenix area for Cinco de Mayo events like the Phoenix Cinco de Mayo festival in Downtown Phoenix, you might want to head to Dewey - Humboldt area (on the way to Prescott) for the Beef 'n BBQ being held at Mortimer Family Farms (formerly known as Young Farms). Not only will you love the nice cooler weather but you can celebrate the cowboy or cowgirl in you. Activities will include:

Ranch Displays & Demonstrations
Music & Entertainment
Inflatable Playground
Hay Rides • Food • Craft Vendors

And of course you can get yourself some BBQ while you are there. The festival will run from 10-5 both May 4th and 5th. This is only about an hour and a half north of Phoenix, so it makes for a great day trip, and cooler getaway! And, there is no charge for admission! The farm is also known for it’s corn and pumpkin festivals later in the year and is a popular destination for families looking for something different to do. For more info check out http://mortimerfamilyfarms.com/

I have fond memories of hay rides in the country in my youth. Why not create some of those great memories for you and your kids as well!

If you would rather stay closer to home, check out the valley’s largest Cinco De Mayo Festival now in it’s 20^th year. Admission is $5 and there’s plenty to do and enjoy. The festival will be held at 3^rd St and Van Buren.

Have fun!

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

What a difference a year makes!

Thu, 02 May 2013 10:16:01 -0700

It seems like many peopel are never happy. In real estate that especailly seems to hold true. First I hear complaints about prices dropping. Now a few years later prices are rising and invetory has fallen. So, the complaint now is it is hard to find a home. Inventory levels are low, but there are still many choices out there. It's just that there is also a lot of competition for that inventory.

The big drop in inventory really occured over 2010-2011. We have seen continued strengthening in the market, but the sale price appreciation didn't really kick in until inventory levels settled under $20K units. In the chart below you will see that in the first quarter of 2013 compared to the first quarter of 2012, sales increased roughly 10%, while inventory dropped about 9%. Overall supplies of inventory dropped significantly in all price categories except for $3M+. In the Phoenix market, a balanced market is considered to have 3-4 months worth of inventory. In price points below $500K (the majority of the market) inventory is sitting in the seller market range. Many properties are selling with multiple offers. Statistics in the chart were obtained from ARMLS STAT+ report.

Q1 2013 Vs Q1 2012

Avg /Mo Solds Avg/Mo Actives
Q1 2013 /2012 Q1 2013 / 2012 Q1 DOM Q1 MSI % change Y2Y

Price Range
30,000-100,000 1305 / 1910 1470 / 3688 71 / 80 1.13/ 1.93 - 41.5

100,001-250,000 3779 / 3167 7792 / 7870 65 /82 2.06 / 2.49 - 17.3

250,001-500,000 1358 / 846 4594 /4189 81 / 105 3.38 / 4.95 -24.6

500,001-750,000 215 / 154 1239 / 1175 111 / 131 5.75 / 7.63 -25.6

750,001-1,000,000 69 / 49 694 / 666 139 / 196 10.10 / 13.59 -21.6

1,000,001-1,500,000 46 / 34 505 / 479 141 / 257 11.05 / 14.09 -21.6

1,500,001-2,000,000 20/ 12 315 /302 217 / 393 15.73 / 25.17 -37.5

2,000,001-3,000,000 8 / 7 256 / 286 264 / 196 33.43 / 40.86 -18.2

3,000,001 and up 4 / 4 242 / 210 262 / 402 60.58 / 52.50 15.4

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374

Desert Ridge March '13 real estate stats

Tue, 30 Apr 2013 15:24:47 -0700

March 2013 saw a total of 44 homes sales in the Desert Ridge area. As of this writing there are 77 active listings, This brings the inventory level toonly 1.75 months worth of supply based on theMarch sales. There are currently 66 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!

Total March sales: 44
Average Price Per foot: $167.12
Sale price as a percentage of list price: 99%
Average sale price: $417,122
Median sale price: $412,000
Average Days on market: 54

This breaks down by type as follows:

Single Family Detached Homes
Sale: 35
Average Price Per foot: $162.80
Sale price as a percentage of list price: 99%
Average sale price: $451,982
Mdeian sale price: $445K
Average Days on market: 51

Condos and Townhomes:
Total sales : 9
Average Price Per foot: $183.91
Sale price as a percentage of list price: 97%
Average sale price: $281,556
Average Days on market:67

Adam Tarr PC
Citywide Real Estate
480-236-7374

March 2013 market update for Scottsdale, 85254

Tue, 30 Apr 2013 14:38:27 -0700

March 2013 saw a total of 95 home sales in the 85254 Zip code of Scottsdale. As of this writing there are 152 active listings and 170 under contract within 85254, so the inventory levels are at 1.6 months worth of supply based on the March sales. 85254 encompasses an area roughly bounded by Shea Blvd on the south,Tatum Blvd on the west, Bell Rd and the CAP canal on the north and Scottsdale Road on the East in Scottsdale and NE Phoenix. Some of the main attractions and destinations in 85254 include Kierland Commons, Westin Kierland Resort, CrackerJax Family Fun Center, Orange Tree Resort, Excelling Paradise Valley Unified School District and Scottsdale School District schools and much more. 85254 has long been called the "magic zip code" in the real estate business for it's desirability. For more information on the area as well as available homes, please call me at 480-236-7374.

Total March sales: 95
Average Price Per foot: $160.02
Sale price as a percentage of list price: 98%
Average sale price: $369,236
Average Days on market: 72

This breaks down by type as follows:

Single Family Detached Homes
Sale: 84
Average Price Per foot: $161.00
Sale price as a percentage of list price: 98%
Average sale price: $391,105
Average Days on market: 72

Condos and Townhomes:
Total sales :11
Average Price Per foot: $152.63
Sale price as a percentage of list price: 100%
Average sale price: $202,234
Average Days on market: 69

Prices for all properties ranged from $90K for a 1/1 condo to $1.8M for a for a 7/7, 6844 sq.ft. single family home.

Adam Tarr PC
Citywide Real Estate
480-236-7374

March 2013 market update for Phoenix, 85054

Sat, 20 Apr 2013 14:43:13 -0700

March 2013 saw a total of 9 homes sales in the 85054 Zip code of Northeast Phoenix. As of this writing there are only 39 active listings and 23 under contract within 85054, so the inventory level is 4.33 months worth of supply based on the March sales. 85054 encompasses an area roughly bounded by Scottsdale Road, Jomax Rd, Tatum Blvd and the CAP Canal in Northeast Phoenix. Some of the main attractions and destinations in 85054 include Scottsdale 101 Shopping as well as Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more in the adjacent 85050 ZIP code. The junction of the Loop 101 and SR 51 lies just east and the Loop 101 runs through 85054 with access at 56th St and Tatum Blvd. for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total March sales:9
Average Price Per foot: $181.68
Sale price as a percentage of list price: 98%
Average sale price: $325,389
Average Days on market: 49

This breaks down by type as follows:

Single Family Detached Homes
Sale: 5
Average Price Per foot: $172.37
Sale price as a percentage of list price: 98%
Average sale price: $377,800
Average Days on market: 30

Condos and Townhomes:
Total sales : 4
Average Price Per foot: $193.31
Sale price as a percentage of list price: 96%
Average sale price: $259,875
Average Days on market: 73

Prices for all properties ranged from $102,500K for a 1/1 condo to $460K for a Single family home in Desert Ridge with 4/2, 3200 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
480-236-7374

March 2013 market update for Phoenix, 85050

Sat, 20 Apr 2013 14:15:15 -0700

March 2013 saw a total of 70 homes sales in the 85050 Zip code of Northeast Phoenix. As of this writing there are 67 active listings and 95 under contract within 85050, so the inventory levels are just under one month's worth of supply based on the March sales. 85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix. Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more. The junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total March sales:70
Average Price Per foot: $145.34
Sale price as a percentage of list price: 100%
Average sale price: $326,413
Average Days on market: 53

This breaks down by type as follows:

Single Family Detached Homes
Sale: 60
Average Price Per foot: $144.74
Sale price as a percentage of list price: 100%
Average sale price: $344,932
Average Days on market: 53

Condos and Townhomes:
Total sales : 10
Average Price Per foot: $148.94
Sale price as a percentage of list price: 98%
Average sale price: $215,300
Average Days on market:53

Prices for all properties ranged from $110K for a 3/1 single family home to $740K for a Single family home in Aviano at Desert Ridge with 6/4.5, 4986 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

February 2013 market update for Phoenix, 85050

Wed, 13 Mar 2013 12:04:39 -0700

February 2013 saw a total of 64 homes sales in the 85050 Zip code of Northeast Phoenix. As of this writing there are 54 active listings and 121 under contract within 85050, so the inventory levels are down to 26 days worth of supply based on the February sales. 85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix. Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more. The junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

February sales are up significantly from January, which is common for past years. January activity typically rises after a slow holiday season.

Total February sales:62
Average Price Per foot: $147,91
Sale price as a percentage of list price: 98%
Average sale price: $335,528
Average Days on market: 83

This breaks down by type as follows:

Single Family Detached Homes
Sale: 54
Average Price Per foot: $147,68
Sale price as a percentage of list price: 98%
Average sale price: $350,180
Average Days on market: 79

Condos and Townhomes:
Total sales : 8
Average Price Per foot: $149.44
Sale price as a percentage of list price: 98%
Average sale price: $236,625
Average Days on market:111

Prices for all properties ranged from $135K for a 3/2 SFD home to $715K for a Single family home in Fireside at Desert Ridge with 6/4.5, 4302 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

Desert Ridge February'13 real estate stats

Wed, 13 Mar 2013 11:35:56 -0700

February 2013 saw a total of 48 homes sales in the Desert Ridge area. As of this writing there are 72 active listings, This brings the inventory level toonly 1.5 months worth of supply based on the February sales. There are currently 75 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!

Total February sales: 48
Average Price Per foot: $165.68
Sale price as a percentage of list price: 98%
Average sale price: $389,164
Median sale price: $377,937
Average Days on market: 91

This breaks down by type as follows:

Single Family Detached Homes
Sale: 37
Average Price Per foot: $162.82
Sale price as a percentage of list price: 98%
Average sale price: $423,040
Mdeian sale price: $441,849
Average Days on market: 86

Condos and Townhomes:
Total sales : 8
Average Price Per foot: $175.28
Sale price as a percentage of list price: 98%
Average sale price: $275,218
Average Days on market:106

Adam Tarr PC
Citywide Real Estate
480-236-7374

Desert Ridge Homes for sale 3/8/13

Fri, 08 Mar 2013 14:31:47 -0800

There are 14 new Desert Ridge listings this week. There are five townhome/condos priced from $269K to $389K with 1246 sq. ft to 1783 all with 2/2, 2/2+den or 3/2. There are 9 single family homes ranging from 1875sf, to 4316 sf . Prices range from $338K to 614K. If one of these or any other Desert Ridge home interests you, I'll be happy to assist you with your search. See the link below for all currently available homes in Desert Ridge.

There are now currently 75 active listings of homes for sale in Desert Ridge (including specs). These listings encompass all areas and styles within Desert Ridge. Desert Ridge includes condos, townhomes and single family detached homes. These properties include clustered homes with smaller lots, to golf course lots providing a wide range of lifestyles within the vibrant community of Desert Ridge.

Currently, the listings range in price from $159K to $995K and in size from approximately 797 square feet with 1 bed and 1 bath in Toscana to 6850 square feet and 6 bedrooms and 6.5 baths in Aviano. Median Desert Ridge list price is $389K at this time. Desert Ridge also includes many basement floorplans, which is something hard to find in many parts of the Phoenix area. There are currently 72 properties under contract at time of writing this blog.

You can see the currently active listings by following this link:Desert Ridge Homes for Sale.

As new listings come to market in Desert Ridge, new posts will reflect the market activities. If you are considering a purchase of a condo, townhome or single family home in Desert Ridge, please contact me to find out about my service guarantee and current market condtions.

Desert Ridge is a wonderful masterplanned community with "excelling" schools, convenient shopping, dining and entertainment and easy freeway access. To learn more, visit www.WeAreAZRealEstate.com

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ 85050
480-236-7374

Desert Ridge January'13 real estate stats

Mon, 18 Feb 2013 10:32:19 -0800

January 2013 saw a total of 24 homes sales in the Desert Ridge area. As of this writing there are 73 active listings, This brings the inventory level to just over 3 months worth of supply based on the January sales. This is a big jump from previous months and relflects the typically lower sales for January. There are currently 81 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!

Total January sales: 24
Average Price Per foot: $164.23
Sale price as a percentage of list price: 97%
Average sale price: $364,825
Median sale price: $285,000
Average Days on market: 58

This breaks down by type as follows:

Single Family Detached Homes
Sale: 16
Average Price Per foot: $159.13
Sale price as a percentage of list price: 97%
Average sale price: $426,332
Mdeian sale price: $428,860
Average Days on market: 53

Condos and Townhomes:
Total sales : 8
Average Price Per foot: $174.42
Sale price as a percentage of list price: 96%
Average sale price: $241,812
Average Days on market:67

Adam Tarr PC
Citywide Real Estate
480-236-7374

The sky is falling! Wait... no it isn't!

Mon, 18 Feb 2013 10:12:16 -0800

I regularly provide market updates to numerous Canadian real estate agents I network with. Each time I get responses from some who thank me for the updates, comment on their market and mine and sometimes just check in with friendly banter. The last time I sent out the update I received a response from an agent who normally responds with her own update and friendly thoughts. But this time was different. She said she was concerned about innocent Canadian buyers being smacked by the new death tax. She had a couple clients who owned property in another US market who sold because they feared a tremendous hit on their taxes. She specifically stated that they were upset because the US would tax them on all of their assets.

This fortunately is not the case, and never was. But it does show how easy it is for misinformation to spread. (Actually, a foreign national owning US property may only be taxed on the US situs property for an estate tax. But the calculation does include the overall estate for purposes of determining the estate tax that may be owed.) The unfortunate way our congress handles matters put a lot of doubt on where the estate tax would end up. Fortunately, previous laws were held up and we didn't revert to old rates.

The key point here is that there is a lot of information out there and not all of it is accurate. I performed a quick search before writing this and the vast majority of articles were older and made wide ranging suppostions about future impacts. The fact is that the majority of Canadian estates holding property in the US may never have to pay an estate tax due to the exemption limits and the US-Canada Tax Treaty. The key thing to remember is that eveyone's individual situation is different and the best way to determine your strategy is to talk with a tax specialist you trust.

But getting back to my main point; like many other things in life don't rely on the grapevine to make your decisions. Let it be a starting point and properly investigate before making decisions you may not need to make. This pertains to all aspects of life!

Adam Tarr PC
Citywide Real Estate

Desert Ridge Homes for sale 2/17/13

Sun, 17 Feb 2013 10:04:19 -0800

There are 8 new Desert Ridge listings this week. There are five townhome/condos priced from $250K to $395K with 1423 sq. ft to 1884 all with 2/2 or 2/2+den. There are 3 single family homes ranging from 1444sf, to 2917 sf . Prices range from $249,900 to 469,900. If one of these or any other Desert Ridge home interests you, I'll be happy to assist you with your search. See the link below for all currently available homes in Desert Ridge.

Currently, the listings range in price from $150K to $999,998 and in size from approximately 797 square feet with 1 bed and 1 bath in Toscana to 4640 square feet and 5 bedrooms and 3.5 baths. Median Desert Ridge list price is $344,492 at this time. Desert Ridge also includes many basement floorplans, which is something hard to find in many parts of the Phoenix area. There are currently 79 properties under contract at time of writing this blog.

You can see the currently active listings by following this link:Desert Ridge Homes for Sale.

Desert Ridge is a wonderful masterplanned community with "excelling" schools, convenient shopping, dining and entertainment and easy freeway access. To learn more, visit www.WeAreAZRealEstate.com

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ 85050
480-236-7374

January 2013 market update for Scottsdale, 85254

Thu, 14 Feb 2013 10:31:25 -0800

January 2013 saw a total of 67 home sales in the 85254 Zip code of Scottsdale. As of this writing there are 159 active listings and 170 under contract within 85254, so the inventory levels are at 2.37 months worth of supply based on the January sales. 85254 encompasses an area roughly bounded by Shea Blvd on the south,Tatum Blvd on the west, Bell Rd and the CAP canal on the north and Scottsdale Road on the East in Scottsdale and NE Phoenix. Some of the main attractions and destinations in 85254 include Kierland Commons, Westin Kierland Resort, CrackerJax Family Fun Center, Orange Tree Resort, Excelling Paradise Valley Unified School District and Scottsdale School District schools and much more. 85254 has long been called the "magic zip code" in the real estate business for it's desirability. For more information on the area as well as available homes, please call me at 480-236-7374.

Total January sales: 67
Average Price Per foot: $152.50
Sale price as a percentage of list price: 99%
Average sale price: $335,830
Average Days on market: 63

This breaks down by type as follows:

Single Family Detached Homes
Sale: 59
Average Price Per foot: $149.04
Sale price as a percentage of list price: 98%
Average sale price: $340.531
Average Days on market: 64

Condos and Townhomes:
Total sales : 8
Average Price Per foot: $178.01
Sale price as a percentage of list price: 91.02%
Average sale price: $301,162
Average Days on market: 55

Prices for all properties ranged from $64,900 for a 1/1 condo to $1.635M for a for a 3/3, 2846 sq.ft. condo at Kierland.

Adam Tarr PC
Citywide Real Estate
480-236-7374

January 2013 Real Estate stats for 85054 in NE Phoenix

Thu, 14 Feb 2013 10:18:19 -0800

January 2013 saw a total of 7 homes sales in the 85054 Zip code of Northeast Phoenix. As of this writing there are only 38 active listings and 21 under contract within 85054, so the inventory level is 5.43 months worth of supply based on the January sales. 85054 encompasses an area roughly bounded by Scottsdale Road, Jomax Rd, Tatum Blvd and the CAP Canal in Northeast Phoenix. Some of the main attractions and destinations in 85054 include Scottsdale 101 Shopping as well as Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more in the adjacent 85050 ZIP code. The junction of the Loop 101 and SR 51 lies just east and the Loop 101 runs through 85054 with access at 56th St and Tatum Blvd. for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total January sales:7
Average Price Per foot: $174.53
Sale price as a percentage of list price: 97%
Average sale price: $267,071
Average Days on market: 72

This breaks down by type as follows:

Single Family Detached Homes
Sale: 2
Average Price Per foot: $176.09
Sale price as a percentage of list price: 98%
Average sale price: $403000
Average Days on market: 30

Condos and Townhomes:
Total sales : 5
Average Price Per foot: $173.91
Sale price as a percentage of list price: 96%
Average sale price: $212,700
Average Days on market: 89

Prices for all properties ranged from $95K for a 1/1 condo to $406K for a Single family home in Desert Ridge with 4/3, 2917 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
480-236-7374

January 2013 market update for Phoenix, 85050

Thu, 14 Feb 2013 10:05:44 -0800

January 2013 saw a total of 42 homes sales in the 85050 Zip code of Northeast Phoenix. As of this writing there are 63 active listings and 130 under contract within 85050, so the inventory levels are holding to 45 days worth of supply based on the January sales. 85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix. Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more. The junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

January sales are down significantly from December, which is common for past years. Purchasing activity is down during the holidays which translates to less closings in January.

Total January sales:42
Average Price Per foot: $143.44
Sale price as a percentage of list price: 98%
Average sale price: $296,068
Average Days on market: 60

This breaks down by type as follows:

Single Family Detached Homes
Sale: 37
Average Price Per foot: $140.77
Sale price as a percentage of list price: 98%
Average sale price: $305,685
Average Days on market: 59

Condos and Townhomes:
Total sales : 5
Average Price Per foot: $162.67
Sale price as a percentage of list price: 97%
Average sale price: $224,900
Average Days on market: 64

Prices for all properties ranged from $62K for a 3/2 SFD home to $724,990K for a Single family home in Fireside at Desert Ridge with 5/4.5, 4306 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate

Scottsdale Auto Auctions 2013

Fri, 11 Jan 2013 10:23:14 -0800

January is known internationally as the month to be in Scottsdale if you live, love or fantasize about cars. There are 6 well known auctions in and around Scottsdale with something for everyone. Whether you are an average Joe or Jane looking for a project car or affordable muscle, or can afford the best and most beautiful autos every made, you will find a home this month in Scottsdale.

The most well known is Barrett Jackson, held at WestWorld in N. Scottsdale. The gates open for viewing on the 13th, but cars continue to arrive for a couple more days. B-J usually has the widest range of autos available including classics, sports cars and muscle cars. Auctions start on 1/17 and run through 1/20. Check out http://www.barrett-jackson.com/ for more info.

Russo and Steele also has a high profile with it's location at Loop 101 and Scottsdale Road. This auction, running from Jan 16-20 will have more than 700 cars crossing the block and provides a great opportunity to see a wide variety of cars as well. http://www.russoandsteele.com/index.php/auctions/scottsdale-auction

RM Auctions features the best of the best at it's high end auction held at The Arizona Biltmore. RM is known for it's beautiful classic cars as well as high end sports cars. If you truly admire the beauty of a well crafted classic then this is the place to be Viewing Jan 17 & 18 with the auction on Jan. 18.. http://www.rmauctions.com/

Gooding and Company also specializes in high end classic and GORGEOUS automobiles. The Gooding Auction will be held Jan. 18 & 19 at Scottsdale Fashion Square. For more info see http://www.goodingco.com/

Bonhams returns to the Westin Kierland for it's auction of prestige cars with viewings Jan 15-17 and the auction on Jan. 17. For more info see.http://www.bonhams.com/auctions/20582/

Last, but definitely not least is the Silver Auction being held at the Fort McDowell Casino. Silver typically carries muscle cars, hot rods and everyday cars, allowing something for almost anyone. Silver runs Jan 17 & 18. For more info see http://www.silverauctions.com/auction_detail.php?id=152&flag=0

If you don't want to attend an auction but still want to check out some nice cars, check out the Barrett- Jackson Night at the Pavillions on Saturday Jan 12. You'll have the opportunity to walk through rows of all kinds of collectible cars. Scottsdale Pavillions at Indian Bend and Loop 101.

Scottsdale is the place to be in January

Thu, 10 Jan 2013 13:51:22 -0800

OK, your're probably thinking I'm going to talk about the weather. While the weather is definitely a big attraction for many people visiting Scottsdale and the metro Phoenix area, that isn't what this is about. It's about all the great things to do this month in the area. Scottsdale is known for it's golf, resorts, dining, shopping and major events that attract visitors from around the world.

The event that seems to get the lion's share of attention is Barrett-Jackson Auto Auction. B-J, which starts next Monday and numerous other auctions held this month top the bill. But there is so much more to do this weekend.

Food trucks are all the rage. If you fancy yourself a foodie and want to check out these roving epicurean treasures, you need to check out the Street Eats Food Truck Festival being held this Sat and Sun, Jan 12 & 13th at Salt River Fields. Over 50 food trucks will be there along with cooking demos, national food celebrities, live music and more. The fun starts each day at 11 AM and runs until 6 PM. Admission is $10 and the food is extra.

Also this weekend, take your high flying self to the 4th Annual Cave Creek Balloon Festival on Saturday, Jan 12 for a balloon glow, skydiving show and much more. The balloons will be on the Rancho Manana golf course driving range. Parking available in downtown Cave Creek. For more info check out http://cavecreekfestivals.com/fourth-annual-cave-creek-balloon-festival-at-rancho-manana/

If you love the idea of attending one of the auto auctions, but don't have the budget, check out the Barrett-Jackson Night at the Pavillions where you will be able to walk around loads of awesome classic cars, hot rods and more. This is also on Saturday, Jan 12 from 4-7 PM. Held at the Pavillions in Scottsdale at Indian Bend and Loop 101.

Next week starts all the auto auctions. More to come on that in another blog.

Have fun!

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

December 2012 Real Estate stats for 85054 in NE Phoenix

Wed, 09 Jan 2013 10:40:08 -0800

December 2012 saw a total of 7 homes sales in the 85054 Zip code of Northeast Phoenix. As of this writing there are only 28 active listings and 21 under contract within 85054, so the inventory level is 4 months worth of supply based on the December sales. 85054 encompasses an area roughly bounded by Scottsdale Road, Jomax Rd, Tatum Blvd and the CAP Canal in Northeast Phoenix. Some of the main attractions and destinations in 85054 include Scottsdale 101 Shopping as well as Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more in the adjacent 85050 ZIP code. The junction of the Loop 101 and SR 51 lies just east and the Loop 101 runs through 85054 with access at 56th St and Tatum Blvd. for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total December sales:7
Average Price Per foot: $187.89
Sale price as a percentage of list price: 95%
Average sale price: $389,645
Average Days on market: 54

This breaks down by type as follows:

Single Family Detached Homes
Sale: 3
Average Price Per foot: $172.43
Sale price as a percentage of list price: 96%
Average sale price: $581,677
Average Days on market: 67

Condos and Townhomes:
Total sales : 4
Average Price Per foot: $199.48
Sale price as a percentage of list price: 94%
Average sale price: $245,625
Average Days on market: 45

Prices for all properties ranged from $161,500 for a 2/2 condo to $750K for a Single family home in Desert Ridge with 4/3, 3950 sq. ft.Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate
480-236-7374

December market update for Phoenix, 85050

Wed, 09 Jan 2013 07:19:13 -0800

December 2012 saw a total of 66 homes sales in the 85050 Zip code of Northeast Phoenix. As of this writing there are 86 active listings and 104 under contract within 85050, so the inventory levels are down to 41 days worth of supply based on the December sales. 85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix. Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more. The junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley. For more information on the area as well as available homes, please call me at 480-236-7374.

Total December sales:66
Average Price Per foot: $137.74
Sale price as a percentage of list price: 100%
Average sale price: $293,016
Average Days on market: 64

This breaks down by type as follows:

Single Family Detached Homes
Sale: 62
Average Price Per foot: $136.68
Sale price as a percentage of list price: 101%
Average sale price: $296,708
Average Days on market: 64

Condos and Townhomes:
Total sales : 4
Average Price Per foot: $154.41
Sale price as a percentage of list price: 98%
Average sale price: $235,800
Average Days on market: 67

Prices for all properties ranged from $50K for a 3/2 SFD home to $682K for a Single family home in Fireside at Desert Ridge with 5/3.5, 3965 sq. ft. Data includes single family detached homes, town homes and condos. It does not include mobile or land.

Adam Tarr PC
Citywide Real Estate

Why should I have my new home inspected?

Tue, 08 Jan 2013 10:36:07 -0800

As an Realtor, I always recomend a home inspection. I recently had a client purchase a new construction spec home and they asked whether they should have a home inspection done. I let them know that it isn't as common on new homes as it is on re-sale, but that I recommend it on all homes. During new construction, I think it is worth it and at a minimum it allows an extra set of eyes beyond the construction superintendant and the city/county inspector. It is always good to get a look "inside the walls" before the drywall goes up.

In this case it is a completed spec home , so you might think, what can the inspector find that I wouldn't see. The answer... plenty. There was a section of two rows of roof tiles missing (about 10 linear feet) on a section of roof that was difficult to see from the ground. What kind of issue would you imagine after some heavy rains? The home as most new construction is billed as having Low-E windows. The inspector used a special meter to determine that two of the windows weren't Low-E. This is not something that is easy to determine by just looking at the windows. There were some additional minor items as well.

The customer service rep was emabarrased and said he was very upset at these issues. The simple point is that if this buyer had done what most new construction buyers do (not have an inspection) they wouldn't have known they weren't getting what they were promised and would eventually have discovered the roof issue when there was a leak. They thanked me for making the recommendation.

Don't be penny wise and pound foolish. An inspection like this may save a lot of headaches and money in the future.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

December 2012 market update for Scottsdale, 85254

Tue, 08 Jan 2013 10:08:07 -0800

December 2012 saw a total of 76 home sales in the 85254 Zip code of Scottsdale. As of this writing there are 149 active listings and 138 under contract within 85254, so the inventory levels remain under 2 months at 1.96 months worth of supply based on the December sales. 85254 encompasses an area roughly bounded by Shea Blvd on the south,Tatum Blvd on the west, Bell Rd and the CAP canal on the north and Scottsdale Road on the East in Scottsdale and NE Phoenix. Some of the main attractions and destinations in 85254 include Kierland Commons, Westin Kierland Resort, CrackerJax Family Fun Center, Orange Tree Resort, Excelling Paradise Valley Unified School District and Scottsdale School District schools and much more. 85254 has long been called the "magic zip code" in the real estate business for it's desirability. For more information on the area as well as available homes, please call me at 480-236-7374.

Total December sales: 76
Average Price Per foot: $156.80
Sale price as a percentage of list price: 97%
Average sale price: $360,575
Average Days on market: 83

This breaks down by type as follows:

Single Family Detached Homes
Sale: 63
Average Price Per foot: $151.19
Sale price as a percentage of list price: 97%
Average sale price: $375.25
Average Days on market: 61

Condos and Townhomes:
Total sales : 13
Average Price Per foot: $183.96
Sale price as a percentage of list price: 99%
Average sale price: $288,688
Average Days on market: 188

Prices for all properties ranged from $83K for a 1/1 condo to $1.9M for a for a 7/10 13,701 sq.ft. custom single family home.

Adam Tarr PC
Citywide Real Estate
480-236-7374

Desert Ridge December '12 real estate stats

Fri, 04 Jan 2013 15:57:14 -0800

December 2012 saw a total of 41 homes sales in the Desert Ridge area. As of this writing there are 81 active listings, This brings the inventory level to just under 2 months worth of supply based on the December sales. There are currently 59 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!

Total December sales: 41
Average Price Per foot: $159.18
Sale price as a percentage of list price: 98%
Average sale price: $372,294
Median sale price: $325,000
Average Days on market: 77

This breaks down by type as follows:

Single Family Detached Homes
Sale: 34
Average Price Per foot: $155.14
Sale price as a percentage of list price: 98%
Average sale price: $387,491
Mdeian sale price: $385,194
Average Days on market: 81

Condos and Townhomes:
Total sales : 7
Average Price Per foot: $178.80
Sale price as a percentage of list price: 96%
Average sale price: $252,029
Average Days on market:61

Adam Tarr PC
Citywide Real Estate
480-236-7374

November Phoenix market update

Wed, 19 Dec 2012 09:39:26 -0800

Overall, November continued the feel good market conditions that we have seen through much of 2012.The market continues to show signs of recovery and competition for many properties stays strong. Here are some details about market stats for the Phoenix metro area. Sales in November did fall 3% to 6,810. But historically, with the exception of 2001 and 2010, the decline in sales from October to November is typical of every year in the past decade. November sales were also lower by 4.7% than the same month in 2011. This also follows the pattern for all of 2012 which showed declines in year over year figures for every month. These decreases also follow similar year over year declines in inventory.

Total inventory rose November to 23,232. This represents a 2.3% increase from October. We have seen an increase in total inventory for four out of the last five months. A low of 19, 857 reached in June. November’s inventory figure represents a 17% increase from that low for 2012.

Average days on market fell to 64 days and the months supply of inventory increased slightly to 3.41, both indicators of a sellers market. I have noticed in some sub-markets that the sales price to listing price ratio has dropped slightly. I attribute this to overzealous pricing by lenders and flippers who see the increases we have been experiencing and are pushing the envelope with list prices. Appraisals and reality have kept those in check and are shown in slightly lower sales pricing ratio.

Distressed Sales have been an inportant segment of the market for the past few years. Distressed sale are comprised of lender owned sales plus short sale. Distressed sale as a percentage of total sales fell again in November to 36.1%. This trend line has moved steadily downward from its high of 74.1% in September 2010. This month lender owned Sales of 876 accounted for 12.9% of total Sales, while short sales of 1,583 accounted for 23.2% of total Sales. The ratio of short Sales to lender owned is approximately 2 to 1, indicating stronger lender appetite for negotiating a work out through short sale, rather than taking a property back through foreclosure. The looming expiration of the Mortgage Debt Relief Act may drastically change those numbers in the coming months.

The steady increases in pricing may be leveling off and it will be interesting to see how our normally strong winter period reflects this.

Adam Tarr PC
Citywide Real Estate