Adam's Blog

Desert Ridge Market Report - July 2009

Thu, 16 Jul 2009 18:12:47 -0500

Desert Ridge/Phoenix Area Market Report for June 2009 (plus first half year review)

We have now made it halfway through 2009. In some ways it has flown by, in others, not so much. Not many people are willing to say we are seeing recovery, and I won't be bold enough to step out and say it either, but we are still seeing some good signs. We still have hard times ahead of us, so let's look at both sides.

The statistics for the Phoenix area real estate market are still providing some very much needed good news. June continued the upward trend that we have had going all year, although the increases are slowing. Sales were up, inventory is down, and once again, the median price went up for the second consecutive month (after more than a year of declines).

The information below is sourced from ARMLS data and reflects status as of July 1, 2009 (@ noon). All data reflects only residential real estate, not lots, land or commercial.

Area	Closed June 2009	Closed May 2009	Closed June 2008	% change from prior month
Total Phx metro	9270	9241	5673	--%
Phoenix Metro SFD	8231	8165	5015	<1%
Wildcat Ridge + all DR	24	28	18	-14%

Total = entire ARMLS area, SFD= single family detached, DR=Desert Ridge

Despite fairly level sales month to month, we are at levels not seen in almost three years. The previous month increases were at 7%. Sales in the metro area through the first half of 2009 exceeded the first half of 2008 by 67.7%!!! In the Desert Ridge area including Wildcat Ridge that number is 5.1%. The smaller increase locally can be attributed to the larger number of investors and first time buyers looking in lower price ranges. But sales are up just about everywhere!

Median pricing, which is the statistic most quoted in the media continued an upward trend in June. The Median for June was up 4.2% over May at $125,000. While this figure is 37.5% lower than June of 2008, it is the second month in a row that the decrease year over year was lower than the month before (May year over year decrease was 42.7%. Median pricing in our area has been a roller coaster month to month. This represents a smaller sample which can vary great depending on the size of homes sold.

In addition to the strong sales levels, we are still seeing strong competition for properties, especially in the sub $100K bracket. Multiple offers are still commonplace. Inventory levels also decreased again, with all residential inventory down under 32,000 in ARMLS (as of July 1), and Single family detached down under 25,500. These levels are barely above what would normally be considered a balanced market. These are the lowest levels in over 3 years. There are still too many variables with the economy to say it's balanced yet, but the rules of supply and demand will take hold if we continue to go lower.

On the other hand, new listings increased in June. This number has fluctuated up and down all year, but the expectation is that we will see higher numbers of foreclosed properties hit the market in the next few months. Additionally, the economic news is still dismal with unemployment rising and consumer confidence lagging. How much will these factors balance the recent real estate market statistics? I think it's anybody's guess.

Phoenix Area Market report June 2009

Thu, 16 Jul 2009 18:07:57 -0500

The information below is sourced from ARMLS data and reflects status as of July 1, 2009 (@ noon). All data reflects only residential real estate, not lots, land or commercial.

Area	Closed June 2009	Closed May 2009	Closed June 2008	% change from prior month
Total Phx metro	9270	9241	5673	--
Phoenix Metro SFD	8231	8165	5015	<1%
Scottsdale total	619	509	459	22%
Scottsdale SFD	428	349	318	23%

Total = entire ARMLS area, SFD= single family detached

Sales through the first half of 2009 exceed the first half o 2008 by 67.7%!!! In Scottsdale that number is 5.1%. The smaller increase in Scottsdale can be attributed to the larger number of investors and first time buyers looking in lower price ranges. But sales are up just about everywhere!

In addition to the strong sales levels, we are still seeing strong competition for properties, especially in the sub $100K bracket. Multiple offers are still commonplace.

Inventory levels also decreased again, with all residential inventory down under 32,000 in ARMLS (as of July 1), and Single family detached down under 25,500. These levels are barely above what would normally be considered a balanced market. As I stated last month, there are too many variables with the economy to say it's balanced yet, but the rules of supply and demand will take hold if we continue to go lower.

Adam Tarr PC, Associate Broker
Citywide Real Estate and Investments

480-236-7374

Adam@WeAreAZRealEstate.com

www.WeAreAZRealEstate.com

www.AvoidAZForeclosureToday.com

I really want that property but can't pay cash!

Thu, 16 Jul 2009 18:03:18 -0500

One of the common problems right now in the foreclosure market are willing buyers who can't pay cash for properties that need some work. Many properties won't get financed by FHA due to condition, leaving the alternatives to be conventional or cash.

There is a loan program that many people have heard of but just don't know enough about. That is the 203k Re-hab loan. There was an excellent ActiveRain post by Colleen Craig on the subject that you could call 203k for Dummies. It is a simple explanation of how it works. Great job Colleen. See it here

Adam Tarr, Assoc. Broker
Citywide Real Estate and Investments
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com

Looking Back and Ahead at the Phoenix market

Sun, 04 Jan 2009 12:45:42 -0600

WELCOME TO THE NEW YEAR! I wish you the best for 2009. For many, it is hard to imagine that it couldn't be better than 2008. Many people have experienced hard times this past year, and as a Realtor I have seen it first hand. I won't be so bold as to make predictions for the coming year, but I am going to tell you where we have been and what that might mean for the coming year.

I have said it before; statistics can be used to prove just about any point, no matter what side you are on. With that in mind, I am trying to keep this as simple as possible. I could tell you about the differences year over year for the last month as that would be the most up to date. But that still won't show the whole picture.

All of the following statistics represent the full year 2008 vs. the full year 2007. All statistics are drawn from the Arizona Regional Multiple Listing Service (ARMLS). The first group represents only single family detached homes.

The total number of new listings to come on the market remained flat year to year. This is a somewhat positive sign given the number of foreclosures and distressed properties. The total number can be distorted though, as it doesn't recognize the same property being re-listed more than once.

A positive sign shows that the total number of closings increased 19% from 2007 to 2008, from 43,921 to 52,522. The dollar volume of those sales decreased by 16% however, reflecting the overall decrease in pricing. The average sale price decreased 30% year over year, while the median price declined 24%.

The following statistics reflect all residential listing data in ARMLS, including lots, condos, single family etc. The total number of listings as of 1/1/09 sat at 56,658, a decrease of about 3% from the same time last year. Total sales in the month of December increased by 66.4% year over year. Total sales for the year increased 10.1% year over year. The large gains in the last half of the year were mitigated in the losses of the first half. The bright spot is that activity picked up later in the year. Inventory levels in terms of months supply decrease approximately 40% for December year over year. Median sale prices dipped 24% year over year, while median list prices dipped 26.4%. Sale price as a percentage of list price remained steady at 96%

Much of the increased sales activity of the second half of 2008 comes from investors who realized that there are some tremendous bargains available, especially for cash flow properties. The first ones back into the market are the investors. The average homebuyer should pick up on this as well. Combine aggressive pricing with historically low interest rates, and it makes a perfect time for the first time buyer to move forward. No one expects that 2009 will be much better than 2008, but unless the US falls into a true depression, the expectation is that pricing will stabilize. There most likely won't be a true recover before 2010. For the average homeowner that will stay in a property for a few years, the current climate of low prices and low interest rates makes this a good time to buy. There are those who are concerned about buying because of the possibility of further decline in pricing. There is no solid data to show with certainty that they will move either way. A home is an investment, any way you look at it. It must be weighed for its risk and return, even if it is your primary residence. But unless your employment status is in question, it may just be the best choice.

A new round of foreclosures is anticipated with numerous special loans resetting this year. The question will be whether the lenders will continue to be willing to re-negotiate these, as some have started to do. If so, we may be able to see a small decline in inventory for 2009.

Once again, all the best for the New Year.

Adam Tarr

Arizona Lakes

Sun, 10 Aug 2008 15:25:23 -0500

HI,

Friends invited me and my family to spend the afternoon on their boat. How could I say no? That also gave me a good idea for a blog. It is interesting how many times I have heard comments from non AZ residents about, "where would you go boating in AZ?!" Well, it so happens that Arizona has quite a few lakes that are great for water sports and recreation. The lakes are the product of water planning years ago, and are formed by dams. There are a few within a short drive from Phoenix, and they are quite popular. The closest the Phoenix metro area are Lake Pleasant, in the far NW of the valley, Barlett Lake, NE from Scottsdale, and Saguaro Lake East of Fountain Hill and North of Mesa. Almost everybody in the are has access to one of these within 30 -60 minutes. There are others just a little further, but still an easy drive from the Phoenix area.

Even if you aren't into boating, wakeboarding, fishing or waterskiing, it is worth a trip. We were at Bartlett lake, and the scenery is absolutely magnificent. If you enjoy getting out and experiencing the natural beauty of our state, the area lakes are a must do!

I have included a couple of documents that show directions and basic info on some of the popular lakes around the state.

lakes info

Lakes info 2

Adam Tarr, ABR, ePro, Assoc. Broker
RE/MAX Excalibur
Scottsdale, AZ
480-236-7374
adam@WeAreAZRealEstate.com

www.WeAreAZRealEstate.com

Queen Creek Brief

Fri, 08 Aug 2008 12:28:22 -0500

Hello,

I recently went to Queen Creek to do a walk through for a client, and thought that I should provide a brief market thought on the area. Check out the video below

http://www.vimeo.com/1466523

Adam Tarr, ePro,ABR,Assoc. Broker
RE/MAX Excalbiru
Scottsdale, AZ
480-483-3333
Adam@WeAreAZRealEstate.com

info@WeAreAZRealEstate.com

HR 6694 - Will Down Payment Assistance Return

Fri, 08 Aug 2008 12:15:40 -0500

HI,

Last week the President signed H.R. 3221 also known as the Foreclosure Prevention Act. There has been a lot of coverage about this, and of course a lot of debate on whether this will truly have any effect on the market, as well as whether anybody should be bailed out.

What doesn't get the coverage, are the many other facets of the bill. There are many aspects, positive and negative (depending on your perspective), but one that has received some outcry is the virtual elimination of Down Payment assistance. DPA programs like Ameridream and Nehimiah have aided about 1 milion families since 1999. These are not the problem loans like no down, no qualifiers that have caused all the turmoil, but loans for folks who don't have a downpayment, but are otherwise qualified. A new bill was just introduced, that seeks to bring back DPA, with reforms. Not having DPA, will undoubtedly stall any recover in the real estate market, as FHA loans have increased, in part due to more affordable homes and 1st time buyers taking advantage of the prices.

Check out the video below for more info, as well as these links for info on each bill.

http://www.vimeo.com/1480257

Provisions of the "Foreclosure Prevention Act

H.R. 6694

Adam Tarr, ABR,ePro, Associate Broker
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
Adam@WeAreAZRealEstate.com

www.WeAreAZRealEstate.com

Is the Housing Crisis Over?

Thu, 08 May 2008 15:56:25 -0500

Hi,

I am often asked whether now is a good time to buy, or whether it is prudent to wait a few more months. Obviously, everyones situation is different, but it goes to the basic needs of getting as much infoas possible to make an informed decision.

The media is constantly bombarding us with the negatives. So the fact that there was a positive article in the Wall Street Journal this week it important. We are starting to see more positive news mixed in. That is a good indicator that we may be stabilizing.

The article points out some history, and some key factors that may indicate that the worst is over. Remember, you only know that the bottom has been hit once it is on the way back up. Check out the article by clicking the link below.

Housing Crisis Over?

Adam Tarr PC, ABR,ePro, CNE
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix area Real Estate Source
info@WeAreAZRealEstate.com
480-236-7374

http://www.weareazrealestate.com/

Desert Ridge Market Report 2007 Year End

Fri, 18 Jan 2008 09:59:05 -0600

The Year in Review

As we begin a new year, I thought it appropriate to put this past year in real estate into perspective. The media coverage has been extraordinary, and for the most part negative. I am not going to tell you that everything is rosy, but the negative media spin tends to lead to a self fulfilling prophecy. The more negative press, the more people become scared, and the less likely that they will forge ahead with plans.

The market will continue to suffer through 2008 due to excessive inventory. This causes many sellers to sell in desperation further lowering prices. Many buyers are waiting to see how low prices will go, so it becomes a vicious cycle. There are areas around the valley that are suffering more than others. Our area although lower than last year, has remained more stable than most. One way to look at the market and the decision to purchase property is whether you want to ride the coming wave or wait for the next smaller one. I see some positive signs on the horizon, including that long term investors are getting into the market. The sustaining thought is that even if we aren't at the low point, it is close, and for the long term now is a good time to buy.

Here is some statistical data to compare 2007 with the years prior. The comparison uses average price per foot. Many indicators use the median price, which means that half the sales are higher and half lower. There is no perfect method to use, as all can be used for the analyst's advantage. I chose this method, as it is the most commonly used in the real estate industry. Keep in mind that it and most other methods aside from an appraisal will not factor in the features of each specific home, which do have an effect on the price paid.

Desert Ridge

There were 159 active listings in Desert Ridge as of 12/31, with 9 pending or contingent listings.

Yr. #sales Ave.Sold $/ft. Ave Sq.Ft. Sold price% of List Price Ave Days on Mkt

2007 183 $224.37 2702 96% 117

2006 186 $250.09 2409 96% 83

2005 212 $228.39 2305 99% 27

2004 214 $167.61 2231 99% 38

2003 202 $142.04 2266 98% 48

These figures reflect on MLS data as of 12/31, and do not include builder sales in the area.

Despite the unit sales in Wildcat Ridge dropping by 2/3 from peak, Desert Ridge has remained strong with only about a 15% drop in unit sales. Prices dropped 10% from 2006-2007. Both communities saw the sold price as a percentage of list price stay strong, which indicates more sellers realizing that value is determined by the buyer. Prices are still 59% higher than 2003 levels.

MLS Area 402

Boundaries are 16^th St, Scottsdale Rd, Jomax, and the Hayden Rhodes Aqueduct. Desert Ridge is in this area.

2007 491 $200.63 2262 96% 102

2006 467 227.85 2080 97 76

2005 620 208.47 2085 99 28

2004 581 146.41 2084 99 36

2003 286 125.60 2097 98 47

As of 12/31/07 there were 44686 single family listings active on the ARMLS (which covers all of the Phoenix metro area including parts of Pinal County). A "normal" market will see less than half that number as a typical number of listings. Despite the slowdown, once the market does level, we can expect to see a reasonable rate of sales due to the pent up demand that ultimate results during any slowdown. The people who are waiting will join the people who have to move to dispense with the extra inventory.

Many people are concerned that this negative market will last. Keep this aspect in mind as well - If we did not have the crazy run up in 2004-2005, and had maintained the more normal 7-8% appreciation per year that we were seeing, then our prices would be lower than they are now. Take a step back and look at this in perspective. I realize that is hard to do for someone who bought at the peak, but the market always comes back.

Adam Tarr
RE/MAX Excalibur
Scottsdale, AZ
info@WeAreAZRealEstate.com
480-483-3333

www.WeAreAZRealEstate.com

Desert Ridge November 2007 Market Report

Wed, 12 Dec 2007 16:09:12 -0600

There were 7 homes sold in Desert Ridge in November 2007, with an average listing price of $769,842 and an average sale price of $719,642. Sale prices were 93% of list prices. Sold Price per Square Foot was $204.79. The range of sold homes was $343,000 to 755,000. As of December 1, there are 8 pending or contingent homes under contract. As of the first week of December, there are 156 active listings with an average list price of $712,725 and average list $/sq.ft. of $233.95

November's sold home average price shot back up reflecting some larger homes in the mix. Additionally, the price per foot was down significantly but may have been skewed by a couple of homes that sold for significantly less per foot than the rest of the range, which may indicate distressed sellers (one was on the market for 14 months.As we pointed out last month, pendings were low, which resulted in this months lower sales. With only 8 pending or contingent sales at the beginning of the month, closings should again be low in December. Based on active listings and last months sale, there is a 22 month supply of homes in Desert Ridge. This might seem scary, but it reflects a low number of sales. December should follow suit, but realize that just 3 more sales per month drops the inventory to 15.6 months and doubling to 14 (which is by no means out of the question) drops inventory levels to under a year. Percentage of list price for solds remains high at 93%,although down from a 96-97% number in the previous months. Desert Ridge pricing has continued to achieve these high percentages showing a submarket that is ripe for the turnaround. It will take time for that to occur however with the high inventory levels.

For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.

Adam Tarr, ABR, e-Pro
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix Area Real Estate Source
info@WeAreAZRealEstate.com
480-483-3333

Should I buy now or wait?

Wed, 12 Dec 2007 15:45:13 -0600

Lately, I have had quite a few people ask me if this is a good time to buy or should they wait a little longer. Most of these folks are from out of state, and in some cases out the country. Everyone seems to have a least a general knowledge of the state of the real estate market. We all know that the last couple of years have been tough to say the least. Anyone can spin the message anyway they want, positive or negative. I have to tread a fine line as a Realtor, because on one hand if I paint too rosy a picture, I am deemed a money grubber, looking only to sell homes so that I can make money, or as this year goes for many people, just survive. On the other hand, if I take the opposite approach, I fall right into the self fulfilling prophecy side of things. I have long criticized the big media for the approach they have taken. Sure they need to report the facts (skewed however they want for their story), but it seems to be the extra twist that is put on almost every story that scares people silly.

So, I try to be somewhat neutral. After all, I do take my duties seriously, and that is to treat my clients fairly and help them do what is in their best interest. I have turned down business before, rather than do something unethical, or that I know will harm the prospective client. My goal is to provide my clients with enough info to do the right thing, after all it is ultimately their decision, and education is key.

So, I got of on a tangent there for a bit. The question is should I buy now or wait? Obviously it depends on the individual, but I don't have a crystal ball. I can only go by predictions and current data. Despite the dreariness of the market in 2007, it was actually the 5^th best year on record for the real estate industry. Granted, it was down significantly from the previous year, which was the all time record year. But that is the key; we have had a run of successive record years. So, put into perspective any downturn will look bad. But last year was still in the top 5! The issue with the market now is that we have the highest inventory levels ever. People have been scared to buy, waiting for the low point. It becomes a vicious cycle at this point. People are waiting to buy, more homes come on the market, time to sell increases, and sellers get scared, and slash prices. So when does it end and where is the low point? The market will tell. Is this good? Yes and no. Prices are coming back to reality, but foreclosures are increasing due to poor loan choices, which also puts downward pressure in pricing. We are approaching market equilibrium as buyers start to feel that the bottom is near, and sellers get more realistic about their homes value.

My personal opinion is that this is a good time to buy. It may not be for everyone. If you are considering a purchase, look at the market. If you want to ride a wave, it is best to get in front of it, not wait for the peak, as you will surely miss it and have to wait for the next one. In other words, we may not be at the absolute bottom, but we are probably close. Once that wave hits (the bottom price) the pent up demand will show it's force and inventory will start to clear out. That may take all of 2008, but do you want to ride it or wait for the next one, as it might be smaller.

In all of the ups and downs in the market over the past few decades, never have the interest rates been this low in a time of normalization. (You might use a different word than normalization, like adjustment, or correction, or crash for the more negative types). For someone looking to wait for the absolute best timing, consider that if you are able to get a property for a little less in a few months, but the interest rates go back up, then you have probably washed out anyway. Rates will not remain this low forever. Anyone remember the 1980's! The rates were high and we still recovered. Conditions are right to allow for the recovery.

So, do you take my word for it? I should say not. My name is not E.F. Hutton, not everybody listens when I speak. But you should study the market and look for the right data. Also, everyone has an opinion. Whether you like the man or not, Donald Trump has made a killing determining the right timing in the real estate market, and he says now is a good time to buy. Other 'analysts' have joined in as well, although they are still drowned out by the negative stuff. But here is the key- we are starting to see some big time people say BUY. To me that means that the turnaround is just about on us. What does that mean to you?

Adam Tarr, ABR, ePro, Assoc. Broker
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Desert Ridge Market Report - October 2007

Tue, 06 Nov 2007 17:39:43 -0600

There were 9 homes sold in Desert Ridge in October 2007, with an average listing price of $551,333 and an average sale price of $528,666. Sale prices were 96% of list prices. Sold Price per Square Foot was $231.87. The range of sold homes was $343,000 to 755,000. As of November 1, there are 8 pending or contingent homes under contract. As of November 1, there are 143 active listings with an average list price of $728,288 and average list $/sq.ft. of $236.61

October's sold home average price was significantly lower, which is not a concern as it reflects less high end homes sold during that month. As we pointed out last month, pendings were low, which resulted in this months lower sales. With only 8 pending or contingent sales at the beginning of the month, closings show again be low in November. Based on active listings and last months sale, the is a 16 month supply of homes in Desert Ridge. Despite this, sold listings were on the market for an average of 115 days (less than 4 months). This shows that correct pricing will get the home sold. Active listings increased by approximately 5% over the previous month and price per foot on active listings is down slightly. Percentage of list price for solds remains high at 96%. Desert Ridge pricing has continued to achieve these high percentages showing a submarket that is ripe for the turnaround. It will take time for that to occur however with the high inventory levels.

For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.

Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix Area Real Estate Source
info@WeAreAZRealEstate.com
480-483-3333

What kind of loan am I getting?

Tue, 02 Oct 2007 16:24:48 -0500

We haven't been posting as much lately as we like to. So, let's remedy that. We like to present general knowledge info periodically. Although we have posted this type of info before, we realize that not everyone is going to go back through months of our blogs. We know that sometimes people just want to get some basic info. Don't forget we are always here to answer the more in depth questions.

Today, we are going to give some basic definitions regarding loans. There has been a lot of talk lately about the problems in the mortgage markets. Knowing what might work best for your personal situation is key. Loan guidelines have become stricter, so having knowlege up front will help you in making the choice that is right for you.

Here are some basic explanations of different types of loans. For more detailed information please contact a lender.

Adjustable Rate Mortgage (ARM) - This loan provides an interest rate that is periodically adjusted to more closely tie to current rates. The amount and time of changes in the rate are agreed to at the initial start of the loan.

Fixed Rate Loan - A loan with one set interest rate that remains constant over the life of the loan.

Conventional Loan - A mortgage that is not obtained under government insured prgrams, backed by investors

FHA Loan - Loans insured by the Federal Housing Administration under H.U.D. This type of loan offers low down payments and easier qualifying

VA Loan - A loan that can be up to 100%, secured by the government for people who have served in the armed forces. The buyer typically pays little or no costs of the purchase.

Balloon Payment Loan - A loan that is amortized over the typical 30 year period, but is due and payable at the end of a certain term less than 30 years. For example, it may be amortized over 30 years to provide for lower monthly payments, but is fully due in 10 years.

Buydown - A loan that has a reduced rate and payment for a specific period of time. This is done by paying points or interest up front.

Community Homebuyer's Program - This is a first time buyer program with a fixed rate and low down payment, often 3-5%. There are no cash reserve requirements and qualifying ratios are easier. These loans are subject to the buyer meeting all income standards and completing a four hour training class.

This is not an exhaustive list, but does provide the most common options. Next time we will discuss things to avoid when applying for a loan.

If you are considering the purchase or sale of a home in the Phoenix / Scottsdale area, please contact us for more information. We will be happy to discuss our services with you.

Have a great day.

Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
Youe Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Desert Ridge Market Report - September 2007

Mon, 01 Oct 2007 23:05:32 -0500

There were 11 homes sold in Desert Ridge in September 2007, with an average listing price of $628,154 and an average sale price of $617,527. Sale prices were 98% of list prices. Sold Price per Square Foot was $226.62. The range of sold homes was $345,000 to $1,059,900. As of October 1, there are 17 pending or contingent homes under contract. As of October 1, there are 136 active listings with an average list price of $743,063 and average list $/sq.ft. of $242.51

As expected, closings were down almost half from the previous month. As we pointed out last month, pendings were low, which resulted in this months lower sales. Seasonal factors such as the new school year likely affected these numbers. Active listings and price per foot on active listings remained almost even. One encouraging factor shows that sale prices are 98% of the list price, higher than it has been in months. There are a couple of possible reasons for this. First, sellers are adjusting to the market and marketing their properties at more reasonable levels, and second, the Desert Ridge submarket is stabilizing and the inherent value of the location, access and amenities continues to show through.

For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.

Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix Area Real Estate Source
info@WeAreAZRealEstate.com
480-483-3333

STELLAR custom-caliber remodel - 3 bed, 3 bath SINGLE LEVEL home - 1,917 sf

Mon, 01 Oct 2007 12:16:27 -0500

**STELLAR** Custom-caliber remodel with no expense spared!

This stunning patio home offers a "Great Room" layout, 3 bedrooms and 3 full baths - all fully renovated in '07! All living is on 1 level, with low-maintenance desert landscaping. This is an ideal winter residence or 2nd home!

The seller had +/- 1600 sf of travertine tile laid in the "Versailles" pattern; this tile is EVERYWHERE in the home except for the Master bedroom and bedroom #3, where plush carpet is found. All bedrooms have french door exits to the yards; bedroom 2 is separate from the others, and with a private bath and exit to the front of the home, would make a great office or guest suite - imagine the possibilities!

Custom-made cabinets are featured in the Kitchen and all 3 FULL baths, plus the wet bar. All of these areas also include granite slab counters, and undermount sinks. All fixures - lighting and plumbing - are new, and top-of-the-line! Even door hardware is new - nickel finish lever-style!

The Kitchen boasts high-end stainless steel appliances - microwave, flat-top stove, side-by-side refrigerator, and dishwasher with the buttons concealed. All appliances - even the washer and dryer - stay!

The Great Room boasts a lofted ceiling, woodburning fireplace, and a full wet bar with built-in wine refrigerator - a "Must-have" for entertaining!

All bedrooms and the Great Room have elegant ceiling fans, and the baths have custom travertine surrounds with insets.

The interior of this home was freshly painted, with an inviting two-tone scheme.

There are numerous skylights within the home, allowing cheery natural daylight to filter in.

The rear yard includes a large patio, and low-maintenance desert landscaping. The front yard has a quaint "courtyard" style entrance, and as you pull onto San Miguel Ave, you face a phenomenal view of Camelback Mountain!

The community boasts a heated swimming pool and spa, and the HOA maintains all common areas and front yards.

Villa Antano is 2 blocks from the Indian Bend wash and recreation - hiking and biking trails, brand new dog park, ball fields, and Chaparral Lake! It is also mere minutes from both Old Town Scottsdale and the 101.

This incredible home and unbeatable location are available to you for $489,990...

For additional photos and details, please visit www.WeAreAZRealEstate.com/65.

Our website contains fantastic area info, market analysis, and an MLS search engine - http://www.weareazrealestate.com/.

We would be delighted to assist you in any real estate transaction in Phoenix, Scottsdale, Tempe, Fountain Hills, Paradise Valley, Desert Ridge, Chandler, Mesa, Gilbert, or Ahwatukee....

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
15160 N Hayden Road, #100
Scottsdale, AZ 85260
480-483-3333
Each Office Independently Owned and Operated
Equal Housing Opportunity

info@WeAreAZRealEstate.com
http://www.weareazrealestate.com/

CUSTOM-CALIBER full remodel - 3 bed, 3 FULL bath, SINGLE LEVEL near Old Town Scottsdale!

Sat, 15 Sep 2007 14:41:23 -0500

**STELLAR** Custom-caliber remodel with no expense spared!

This stunning patio home offers a "Great Room" layout, 3 bedrooms and 3 full baths - all fully renovated in '07! All living is on 1 level, with low-maintenance desert landscaping. This is an ideal winter residence or 2nd home!

The seller had +/- 1600 sf of travertine tile laid in the "Versailles" pattern; this tile is EVERYWHERE in the home except for the Master bedroom and bedroom #3, where plush carpet is found. All bedrooms have french door exits to the yards; bedroom 2 is separate from the others, and with a private bath and exit to the front of the home, would make a great office or guest suite - imagine the possibilities!

Custom-made cabinets are featured in the Kitchen and all 3 FULL baths, plus the wet bar. All of these areas also include granite slab counters, and undermount sinks. All fixures - lighting and plumbing - are new, and top-of-the-line! Even door hardware is new - nickel finish lever-style!

The Kitchen boasts high-end stainless steel appliances - microwave, flat-top stove, side-by-side refrigerator, and dishwasher with the buttons concealed. All appliances - even the washer and dryer - stay!

The Great Room boasts a lofted ceiling, woodburning fireplace, and a full wet bar with built-in wine refrigerator - a "Must-have" for entertaining!

All bedrooms and the Great Room have elegant ceiling fans, and the baths have custom travertine surrounds with insets.

The interior of this home was freshly painted, with an inviting two-tone scheme.

There are numerous skylights within the home, allowing cheery natural daylight to filter in.

The rear yard includes a large patio, and low-maintenance desert landscaping. The front yard has a quaint "courtyard" style entrance, and as you pull onto San Miguel Ave, you face a phenomenal view of Camelback Mountain!

The community boasts a heated swimming pool and spa, and the HOA maintains all common areas and front yards.

Villa Antano is 2 blocks from the Indian Bend wash and recreation - hiking and biking trails, brand new dog park, ball fields, and Chaparral Lake! It is also mere minutes from both Old Town Scottsdale and the 101.

This incredible home and unbeatable location are available to you for $499,990...

For additional photos and details, please visit www.WeAreAZRealEstate.com/65.

Our website contains fantastic area info, market analysis, and an MLS search engine - www.WeAreAZRealEstate.com.

We would be delighted to assist you in any real estate transaction in Phoenix, Scottsdale, Tempe, Fountain Hills, Paradise Valley, Desert Ridge, Chandler, Mesa, Gilbert, or Ahwatukee....

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
15160 N Hayden Road, #100
Scottsdale, AZ 85260
480-483-3333
Each Office Independently Owned and Operated
Equal Housing Opportunity

info@WeAreAZRealEstate.com
www.WeAreAZRealEstate.com

www.zipskinny.com - GREAT tool for stats by zip code!

Wed, 12 Sep 2007 13:05:36 -0500

Hello!

We have located a great website called http://www.zipskinny.com/. You plug in a zip code, and all kinds of general stats are generated. It also compares your zip with surrounding ones, as well as the national average. Check it out, especially if you are considering a move!

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source

http://www.weareazrealestate.com/

Desert Ridge Market Report - August 2007

Sun, 02 Sep 2007 13:39:41 -0500

There were 21 homes sold in Desert Ridge in August 2007, with an average listing price of $653,880 and an average sale price of $623,380. Sale prices were 95% of list prices. Sold Price per Square Foot was $217.58. The range of sold homes was $348,500 to $975,000. As of Spetember 1, there are 14 pending or contingent homes under contract. As of September 1, there are 139 active listings with an average list price of $751,719 and average list $/sq.ft. of $243.99

Closed sales volume was up over 50% over the month before reflecting contracts taken in June and July. August pendings are down by approx 1/3 possibly reflecting the traditional August slowdown as families prepare for and get back to school. The average price was up significantly from the month before, and average price per square foot was down most likely reflecting the larger square footage of the homes than the previous month, as well as more realistic seller pricing.

Desert Ridge is a master planned community in NorthEast Phoenix, AZ. For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.

Is the sky falling?

Thu, 30 Aug 2007 19:25:03 -0500

There was an interesting segment on the Early Show on CBS this morning. It was the Money Matters segment, with Harry Smith interviewing Ray Martin. We have long said that we feel that the over-hyping of the mortgage and real estate markets woes is contributing to the woes. This segment is a breath of fresh air regarding media coverage.

We have said ourselves, that there are definitely problems, we don't live under a rock, but the general perception of the situation seems to be blown out of proportion. It becomes a circular issue. Check out the segment at http://www.cbsnews.com/stories/2007/08/30/earlyshow/contributors/raymartin/main3219850.shtml Once on the CBS page, click on the video. We hope you will agree, it's about time somebody didn't say "The Sky is Falling"

Adam Tarr, ABR, e-Pro
Sharon, Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Positive influences on the local economy

Thu, 23 Aug 2007 16:12:31 -0500

Hello, There was an article in the Business Journal of Phoenix last week that provided some information from the Arizona Blue Chip Economic Forecast. Once again, some of what we have been saying for a while is backed up with this report. Although there are definitely factors that will continue to put a drag on the economy, such as the slow housing market and mortgage concerns, there are many other factors that will help buoy our market through those negatives better than most other metro areas. Population continues to grow, and that bodes well for the long run real estate market. Once again, that will also mean an easier rebound for the negative factors. The following is text of the article:

Economic panel cites population growth, nonresidential construction among local drivers

The Business Journal of Phoenix - August 15, 2007

Population growth, declining or stable fuel prices, nonresidential construction, modest interest rates, the national economy, and global growth are expected to be the key positive influences on local economy over the next 12 months.

That's the view of economists who take part in the Arizona Blue Chip Economic Forecast. The top negative influences likely will come from the slowing residential housing market, consumer spending, slowing economic growth, and problems with the subprime lending market and rising mortgage rates, the group said.

"It is no surprise that the slowing residential construction market garnered the most mentions as a negative factor for the local economy," wrote Forecast editor Tracy Clark.

But the news is not all bad with population growth critical to limiting the impact of the residential slowdown, Clark said. "It is clear that population growth is off the peak but is still remarkably strong by national standards."

The Forecast panel predicts Arizona 's population to grow by 3 percent in 2007 to 6.31 million, and by another 3 percent in 2008.

The Arizona Blue Chip Economic Forecast is published by the JPMorgan Chase Economic Outlook Center, L. William Seidman Research Institute at the W.P. Carey School of Business at Arizona State University .

If you are one of the new people to the area and you are considering purchasing a home, please contact us for a personal, free, no obligation appointment to assist you in finding the perfect home for you!

Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Valley Home Prices down 2.7% from a year ago - an interpretation

Mon, 20 Aug 2007 09:25:35 -0500

Hello -

http://www.azcentral.com/ reports today that Phoenix Metro home prices are down 2.7% from where they were 1 year ago. This may surprise many residents, since there has been a glutton of "Doom-and-gloom" real estate reports as of late. The bulk of news coverage has been on the mortgage industry and homes losing value; what we need to keep in perspective is that in 2005, Phoenix led the nation in home appreciation - at a whopping 55%! While there are still a lot of homes on the market, we have fared far better than the bulk of the nation in this housing dip. If you purchased your home prior to 2005, you are still way, WAY ahead of the curve regarding appreciation averages.

How does this translate into our real estate market? If you don't have to sell your home RIGHT NOW, you may want to wait a few more months. There is still an abundance of homes investors are trying to move, and they are discounting deeply to ensure those homes sell and close. If your situation requires you to sell now, be realistic in your listing price (remember - there's a lot of competition out there!) and make your home shine - you need to make it memorable and as appealing to the masses as possible!

As a buyer, there are so many great values available out there - it is, indeed, a "Buyer's Market". The fed reduced rates, and although getting a mortgage may be a *little* more difficult than a year ago, it is still a very streamlined process.

For investors, we are at the ideal time to "Buy Low, Sell High" - every investor's ideal! With a lot of inventory, you can pick-and-choose and seek out the best values for your real estate portfolio.

Please contact us with any questions, or to schedule an appointment to discuss your real estate situation! To read http://www.azcentral.com's/ full article, please click HERE.

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333

info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

NEW Scottsdale Condo Project - "Sandalo"

Sun, 19 Aug 2007 13:48:03 -0500

Hello!

We have a new Scottsdale Condo Project to share - it is called "Sandalo". Located at 70th St and Cochise, only 44 homes will be offered in this gated community! Please click HERE for more information!

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333

info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Phoenix #1 in retail construction

Thu, 16 Aug 2007 10:52:16 -0500

New statistics came out recently that show that Phoenix leads the nation in retail construction. Considering the state of real estate across the nation as well as locally, that is relatively good news. High retail construction shows that there is still growth. We have said for a long time, even before the downturn in the market that the Phoenix area should recuperate faster than many other metro areas. The reason is that we have the overall economy, job growth, and climate to attract people to this area.

There are naysayers who think that the high retail construction will just lead to more empty stores. But consider this, residential construction typically occurs before the retail and commercial construction. A decade of strong growth, capped off by record numbers in '04 and '05 mean that it is natural to now see growth in the retail sector. In residential it is more of a "build it and they will come" In commercial, it is more like the homeowners saying, we're here when are you going to build it?! Most of the new construction is occuring along new highway routes where there has been plenty of growth.

Does this signal the end to the slide and the start of a recovery. No, but it does show that lenders see the short and long term potential of this construction. This market will survive, and come back strong. It will take stabilization of the mortgage and financial markets to make people comfortable again. Inventory will shrink and "normality" will return. To see the AZCentral article on Phoenix being number one in retail construction, click here.

Adam Tarr,ABR,e-Pro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
Your Phoenix Area Real Estate Source
480-483-3333
info@WeAreAZRealEstate.com

http://www.weareazrealestate.com/

Desert Ridge Market Report - July 2007

Tue, 07 Aug 2007 19:16:43 -0500

There were 13 homes sold in Desert Ridge in July 2007, with an average listing price of $550,469 and an average sale price of $528,115. Sale prices were 96% of list prices. Sold Price per Square Foot was $239.73. The range of sold homes was $282,500 to $1,015,000. As of August 1, there are 20 pending or contingent homes under contract. As of August 1, there are 150 active listings with an average list price of $758,610 and average list $/sq.ft. of $247.30

Although sales volume was half of the month before and the average price was down significantly from the month before, average price per square foot was up over $5/ft. This indicates that the average sold price decrease is due to smaller homes being sold during this period compared to June (actually about 426 sq.ft. less average).

Desert Ridge is a master planned community in NorthEast Phoenix, AZ. For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.

FAQ - What do you suggest?

Tue, 31 Jul 2007 18:05:14 -0500

We want to add a "FAQ" page to our website, www.WeAreAZRealEstate.com. This idea came about when we noticed that prospects who are already working with an agent were approaching us, thinking that agents can only show their own brokers' listings, or that we use different MLS systems, or in one case, that Adam and I owned all our listings(!).

Do you have a "FAQ" page on your site?

What Questions/Answers do you suggest posting?

THANKS for your suggestions!

Sharon Kotula, ABR
Adam Tarr, e-PRO
RE/MAX Excalibur
Scottsdale, AZ