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market report: 2011 Market Report - 12/28/11 11:15 AM
As the end of 2011 approaches, I decided to do my year end blog a couple of days early.
The following table shows the year to date sales of real estate by agents during 2010, followed by 2011 figures.
I can't say it was an exciting year, but we did sell afew mor homes, 105 to be exact. Some things also remain relatively constant, the percentage of list to sales price for example.
As it was last year, the biggest factor this year for both selling price and days on the market is single family homes are much … (1 comments)
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market report: 2010 Yearly Sales Summary, Sun City AZ Real Estate - 01/05/11 11:24 AM
This is it, the end of 2010 and the bigging of 2011.
The following table shows the year to date sales of real estate by agents during 2010.
To paraphrase Charles Dickens, It was NOT the best of times, it was NOT the worst of times.
The biggest factor this year for both selling price and days on the market is single family homes are much more desireable to today's buyer. In past years condos and houses sold at roughly equal numbers, and just a few dollars difference in price per square foot. Days on the market also verify this preference
… (0 comments)
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market report: A Letter to a Buyer - 10/01/10 11:19 AM
This is an exerpt from an actual letter sent to a cash buyer prospect today. This buyer, like many, has concerns about the housing market.
First, how is the market? Hard to say, yet seems like a little more buyer activity. Prices are low but seem to be stabilizing.
What to do? As far as the future goes, I can only quote one economist and the most successful investor the U.S. has ever known. The economist, John Kenneth Galbraith said, " economic forecasting exists to give astrology a good name" In other words, who knows. The investor is Warren Buffet. When … (0 comments)
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market report: Foreclosures down in Phoenix Area - 02/10/10 01:52 PM
Today 2/10/10, the Arizona Republic anounced that foreclosure filings were down significantly in metropolitan Phoenix. this is the first time since Novembeer 2008 this has occurred.
What caused the drop is not certain, perhaps loan modifications are finally working, or more likely, since pre-foreclosure notices are down also, people are now able to pay the mortgage.
Employment was also up in December and January, and the Science Foundation of Arizona announced that the high tech industries in Arizona maintained a fairly stable employment rate. (house of clowns, otherwise known as the legislature, pay attention here.)
… (0 comments)
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market report: Do Houses Sell Faster Than Condominiums in Sun City AZ? - 10/29/09 01:59 PM
I finally got around to evaluating the Sun City Market by housing type. ie Single Family vs Condominium. I used six weeks of MLS data for this. (9/1/09-10/14/09)
I have long felt that the single family home is more desirable to most of the buyers who come to Sun City, but have never done the analysis required to prove it.
As you can see from the following spreadsheet, homes sell one third faster than condos. The lesson, if you are a buyer, and want to buy a home, you must make up your mind quickly as more snowbirds will be here … (0 comments)
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market report: January through September Sun City Market Report - 10/29/09 01:55 PM
And, The Numbers For September Are: Active Listings as of 10/1/09 689 Average List Price $135,500 79 homes sold Absorption Rate 9 months Number of Single Family Homes for Sale 357 Number of Condos for Sale 332 Average Days on the Market 135 The Sales prices ranged from $46,900 to $470,000 with an average of $125,484. This represents an average price per square foot of $81.98.
The Year to Date Sales Are: Total Number of Homes Sold 1/1/09-10/1/09 799 Number of Single Family Homes Sold 1/1/09-10/1/09 457 List Price/Sold Price of Single Family Homes $148,913/$138,454 Number of Condo Style Homes Sold … (0 comments)
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market report: Sun City Market Report, 3rd Quarter 2009, A Different Look - 10/14/09 02:50 PM
Yesterday, I finally got around to evaluating the Sun City Market by housing type. ie Single Family vs Condominium. I used the last six weeks of MLS data for this. (9/1/09-10/14/09)
I have long felt that the single family home is more desirable to most of the buyers who come to Sun City, but have never done the analysis required to prove it.
As you can see from the following spreadsheet, homes sell one third faster than condos. The lesson, if you are a buyer, and want to buy a home, you must make up your mind quickly as more snowbirds … (0 comments)
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market report: Sun City Market Report, 3rd Quarter 2009 - 10/12/09 11:38 AM
And, The Numbers For September Are: Active Listings as of 10/1/09 689 Average List Price $135,500 79 homes sold Absorption Rate 9 months Number of Single Family Homes for Sale 357 Number of Condos for Sale 332 Average Days on the Market 135 The Sales prices ranged from $46,900 to $470,000 with an average of $125,484. This represents an average price per square foot of $81.98.
The Year to Date Sales Are: Total Number of Homes Sold 1/1/09-10/1/09 799 Number of Single Family Homes Sold 1/1/09-10/1/09 457 List Price/Sold Price of Single Family Homes $148,913/$138,454 Number of Condo Style Homes Sold 1/1/09-10/1/09 342 … (0 comments)
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market report: What Goes Up? - 01/11/09 10:04 AM
That is the title of an article written by Steve Meade, President of my company, Ken Meade Realty Inc. in Sun City AZ.
I felt the article was good enough to publish here in its entirety, with permission from Steve.
Wouldn't it be wonderful if more of the items we bought increased in value while we owned and used them? In this environment, we could buy a boat for $20,000 and sell it five years later for $24,000. We might buy a motor home for $120,000 and sell it in a few years for $125,000 or $130,000. If you wanted a … (1 comments)
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market report: The Number of Active Agents in Arizona Decreases! - 07/20/08 01:09 PM
The Arizona Republic reported today (7/20/09) in an interview with Bob Bemis of the Arizona Regional Multiple Listing Service (ARMLS) That only 28,000 of ARMLS' 36,000 former members renewed their dues for the 2008-2009 period. Even though ARMLS expects 3,000 late renewals, the anticipated net decline represents 20% fewer agents than last year.
It is presumed that the agents not renewing are either agents who are retiring, were part-time, or who had licenses during the boom times and are not willing to put the time and effort into competing in today's market.
I hope that the remaining agents are the professional … (9 comments)
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market report: BUYERS! Get of the Fence! - 06/06/08 03:57 PM
Why is now the time?
There are real reasons to believe the market is no longer declining, but is now in a trough.
There is less inventory available. Inventory levels have been decreasing since the first of the year. Wait much longer and your choices will be limited. Greater sales. Demand is starting to increase, and while the number of foreclosures is steady, the number of new delinquencies is decreasing. Additionally, we are seeing more than one offer on foreclosed properties. Mortgage are readily available now. The mortgage shakeout seems to be subsiding.
FHA & VA Mortgages are available. These … (2 comments)
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market report: Some Recent Posts Attempting to Explain The Current Mortgage Crisis - 08/05/07 11:15 PM
It is amazing to me that with the chaos in the mortgage industry, more of our mortgage professionals have done little to explain what is going on, or to help the real estate agent associates to survive, thrive and progress. This is an ideal forum for just that.
The following are some posts I have recently read that may help some others in these troubled times. I hope to see more in the near future.
Kurt Jackson of http://www.kcmortgageplanning.com/ posted a great article about how lenders get paid, and how the secondary market buys loans and sets rates. You can see it at: … (5 comments)
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market report: Thoughts on the Flat Housing Market, and Mortgage Crunch - 07/29/07 11:42 AM
The housing market in my area is spotty, with Sun City and Surprise homes selling at a slightly increasing rate, while Sun City West, Peoria and Glendale flat. Prices are, in,fact, down from the 2005 record prices. Inventory is high in all areas, and the "I'll sell if I get my outrageous price" folks have been dropping out of the market.
It is a Buyer's Market!
Oh really? In that case, where are the buyers? Why aren't they buying?
Conventional wisdom on this and other forums, and in the media says it is "greedy" sellers who won't lower prices that is to blame.
It is an … (4 comments)
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market report: A Big New Employer Comes to Surprise - 07/26/07 11:46 AM
Crescent Crown Distributing has announce that it will build a regional headquarters an distribution facility at the Surprise Pointe commericial park.
Crescent expects to employ 250 people initially, growing to 600 jobs in the near future. The company also has a distribution center in Phoenix, which it will keep open. That facility employs nearly 600 people.
Crescent is a beer distributor, representing many high end brands such as Heineken, Miller, Labatt and others. The company expects to sell more than 16,000,000 cases of beer in Arizona in 2007.
Surprise City Councilman Joe Johnson said. "This brings real jobs the average citizens of Surprise can … (3 comments)
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market report: More News of Improvement in the Housing Market! - 07/16/07 05:13 PM
Countrywide Financial, one of the largest mortgage originators reported that They made 45 Billion dollars in mortage loans in June. This is a 4% increase over June of 2006. The company accomplished this in spite of vastly reduced activity in the sub-prime and adjustable rate mortgages.
The company still finds the housing market soft, but a 4% increase in same month production is nothing to sneeze at.
In addition to the higher volume of loans, the company is also hiring new people, adding 830 new jobs since May. This in a time many lenders have cut their work force.
Thoughts on Today's Real Estate … (0 comments)
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market report: Thoughts on Today's Real Estate News (7/15/07) - 07/15/07 01:01 PM
In today's Arizona Republic, Cathrine Reagor reports a few things of interest to home buyers and home sellers.
New home building continues to slow.Condo sales are bucking the trend. Sales of existing condos are up about 8%.Short sales continue to rise.Regarding number 1, good news for sellers of existing homes, they do not have to compete with builder inventories to sell their homes. This fortells a very clear signal to buyers that this is the time to buy a resale home in a convenient neighborhood with established schools, roads and shops. Wait too long and you will either have to pay higher … (0 comments)
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market report: Home Sales up in Sun City and Surprise Arizona - 07/13/07 11:38 PM
The West Valley's Daily News-Sun newspaper, citing a study by Realty Studies at Arizona State University Polytechnic reported today, July 13, 2007, that Sun City and Surprise resales of homes were strong when compared to the same month last year.
Sun City Arizona home resales were 115 homes in June 2007 compared to only 75 resales in 2006.Surprpise Arizona home resales were 255 homes in June 2007 compared to only 175 resales in 2006.
I said in my post on July 11, 2007 that I felt the consumer was regaining confidence and felt the market had bottomed out. This latest news confirms that, … (1 comments)
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Jim Little, Your Sun City Arizona Realtor
Sun City,
AZ
More about me…
Ken Meade Realty
Address: 17001 N. Del Webb Blvd, Enter your address line 2 here, Sun City, AZ, 85373
Office Phone: (623) 977-1776
Cell Phone: (623) 521-6768
Email Me
My comments and opinions for the northwest Maricopa county and the Adult communities there. Specializing in Del Webb's Sun City, Sun City West, and Sun City Grand, and the neighboring communities of Surprise, El Mirage, Peoria and Glendale Arizona
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