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2012 Market Trends for Maricopa County Arizona New Home vs Resale Home Trends
The economy of the Valley of the Sun was once driven by what seemed to be a never ending construction boom. During peak years, it was estimated that up to 20 acres of desert was lost each day as new homes and shopping centers and schools and churches and streets and roads were built in the Greater Phoenix Area.
When the housing market crashed, first hit were the construction trades and the builders. As their loss of income began to impact all the stores (7 comments)
The Cromford Report presents the trend in homes auctioned by trustees as the end step of the foreclosure process. “Good years” in Maricopa County see fewer than 1000 foreclosure auctions. This graph demonstrates the huge increase over the past years, the peak and now the gradual return in the direction of normal levels.
Although we are not there as yet, we are finally headed in the right direction.
2012 Market Trends for the Greater Phoenix Metro Area Price per Square Foot
This is the trend for The Valley of the Sun, for the past two years. Only single family detached dwellings are considered. Only cities in the greater Phoenix Metro Area are included. The Cromford Report has tracked the Valley-wide trend in average price per square foot.
This chart makes it easy to see that our Valley-wide market bottom was reached last August and the average trend is steadily up from there.
The Cromford Report presents the trend in homes purchased by investors for rental property. This chart presents the portion of last month's sales purchased as rental property, listed by municipality within the Greater Phoenix Metro Area.
We have become a society with far fewer homeowners in the past few years. That represents a loss in community engagement that usually accompanies home ownership.
Chandler is a lovely city with convenient access to highways 60, 101, 202 and I-10. High tech industry enables many people to work without highway commutes at all. The market improvement on Single Family Detached homes is charted here.
Inventory is down as sales are up, while square foot average prices are increasing steadily, they remain an average of $10.00 per SF below the falling prices of two years ago.
The average price for a Chandler Arizona Home last month was $193,906.00. (0 comments)
Sun Lakes is an East Valley Active Adult Community. Five golf courses, seven restaurants, tennis courts, pools, five clubhouses, games, travel, classes and more! Easy access to the rest of the Valley make it an awesome home for active retirees. Market changes for Single Family Detached homes is charted here.
Inventory is down as sales are up, but these changes are less marked than on some Valley Adult Communities. Square foot average prices actually reached a low last month of about $19.00 per SF below (0 comments)
Mesa Arizona offers something for everyone. One of the Valley's first settlements, it has homes of every age and style. Market changes for Single Family Detached homes is charted here.
Inventory is down as sales are up. Square foot average prices are only down $5.00 from two years ago ( prices were already falling then, of course). There are lots of great homes still available in Mesa Arizona.
The average price for a Mesa Arizona Home last month was $141,277.00. The (0 comments)
Gilbert Arizona is a young and aspiring city. Although Gilbert was incorporated in 1920 it is a fresh community due to rapid growth in the last 20 years. Gilbert thrives as a family oriented, progressive community while retaining its historic small town atmosphere. Market changes for Single Family Detached homes are charted here.
Inventory is down, in contrast with much of the Valley, sales are presently not up over last year. Square foot average prices are only down $7.40 from two years ago ( prices were already falling (0 comments)
Queen Creek Arizona was incorporated in 1989. Residents were eager to protect their lifestyle while adapting to future growth. Residents honestly want to safeguard the city's small town feel and friendly charm while providing for real estate growth, recreational facilities and a thriving economy to match. Market changes for Single Family Detached homes are charted here.
Inventory is down, in contrast with much of the Valley, sales are presently not up over last year. Square foot average prices are only down a couple of dollars (0 comments)
How To Create Your Own Google Maps - 02/24/12 06:57 PM
John does a great job of teaching us to utilize Google maps in our blogs, listings and where ever we need a good map. Check out his video and leave your comments on his site. Via John McCormack- Owner/Broker REALTOR, e-PRO (Albuquerque Homes Realty * www.AlbuquerqueHomes.com): How to create your own Google maps.I frequently create neighborhood profiles and include in those profiles a Google Map of that specific neighborhood. I had a fellow Active Rain associate ask me what platform I utilized to create these maps. So I embarked on this How to Create Your Own Google Maps video. The process is (0 comments)
For a whole 24 days, I have altered my life and food intake to protein and fats, keeping carbs to 20 gms a day or less. For a gal who existed on the basic food groups of whole milk (has milk sugars, forbidden on the Atkins) caffeine (two caffeinated drinks a day or less) and SUGAR in any form, this has been a challenge.
Weight loss was brisk for a few days then for over a week, I stayed at a nine pound loss. I was so depressed I ate (14 comments)
"Gift Money" Acceptable Donors & Required Documentation For FHA Loans - 02/23/12 08:25 PM
Another of George Souto's great blogs on FHA loans and who can contribute a gift to the buyers. My lender appreciates receiving fewer calls from me asking "can we do this" . Thanks, George. Via George Souto NMLS# 65149 FHA, CHFA, VA Mortgages Connecticut: Yesterday I wrote a blog outlining who is an acceptable donor, how much can be gifted, and the documentation required by Fannie Mae. Today I will explain the same for FHA Loans. FHA is very similar to Fannie Mae when it comes to who is an acceptable donor, how much can be gifted, and the documentation required. But (0 comments)
Allowable Seller Paid Closing Costs - 02/23/12 08:20 PM
I love George Souto's concise posts about the ever-changing who can do what to whom in terms of mortgage lending. I am reblogging a few of his, saves me from digging through my bookmarks later! Via George Souto NMLS# 65149 FHA, CHFA, VA Mortgages Connecticut: Most Mortgage Loans that I do these days have Seller Paid Closing Cost, this is true even on a purchase where the Buyer has significant assets. As a result of this, a common question that I am asked all the time from Buyers and Realtors, is how much can they ask the Seller to contribute towards Closing (0 comments)
The data for Youngtown is from 2/13/2012, and therefore, the graph shows a decline to 12 homes actively for sale. Today, that number is only four. Youngtown has been one of the slowest suburbs to recover from the market decline but at present, the inventory is gone!
Average home price last month was 60K. The nearest ramaining home in that price range is this home offered at $61,950.00 It is a 2/1, 803 Sf home. '' Says it was built in 1959 but wait'' Striped and redone. (2 comments)
As the chart below displays, Wittmann Arizona offers interesting contrasts in its individualized market. Homes are on the market longer even as inventory is down. Wittmann is largely rural, most properties are horse properties and the riding is unlimited. Wittmann has never followed the Phoenix Metro market and this year is no exception.
The average price for homes sold last month in Wittmann was $156K. $152.9K will buy you a 4/2.5, 2290 SF custom home on 4.32 acres, offering privacy room for RV parking, toys. etc. Beautiful ceramic (1 comments)
As the chart below displays, Waddel Arizona is beginning to recover from a low market point reached last year. Waddell with its stunning views of the White Tank Mountains remains one of the best values for those who want to live in a semi-rural area.
The average price for homes sold last month in Waddell was $162K. For 190K, this well cared for 3/3, 1855 SF, home on over 2 acres, with horse facilities, RV garage, corral, and a large pasture area can be purchased today in Waddell. (1 comments)
As the chart below displays, Surprise lags much of the Valley of the Sun in market recovery. While many suburbs have already started to make up a bit of the massive losses suffered in the market meltdown, Surprise remains one of the best bargains in the Valley.
The average price for homes sold last month was $145K, this is an example of what 145K will buy today in Surprise. A well maintained, lovely 1287 SF 2/2 in a lake subdivision with community golf course, heated pool, spa, walking trails (2 comments)
I read somewhere that we spend our adult lives trying to get what we couldn't have at the age of ten.
To be a cowgirl, on a beautiful fast horse, galloping and shooting...
It is the fastest growing equine sport. Cowboy Mounted Shooting. What fun! This year the National Finals were held in Buckeye and we went out a couple of days. We also have friends who compete.
The guns are .45 revolvers. The ammo is black powder loads, so there is smoke and fire coming (11 comments)
Why isn't this bigger news that Obama proposed to Extend Tax Waiver on Mortgage Debt Forgiveness Act - 02/17/12 07:57 PM
Pacita brings us a great question today. Why can't NAR (and all of us in the nation) appreciate what is actually working in our behalf? What works isn't about partisanship! Not about Obama or Romney or any individual. What works, Works! This helps our industry. Appreciate it. Acknowledge it. Even if you don't like the politician who introduced the concept or the bill. America, we need to grow up a little. This petty stuff has gotten us in enough trouble don't you think? Via Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA (Alain Pinel): Obama Proposed: Extend (0 comments)
As with other areas in the Phoenix Metro Region, Peoria Arizona Home inventory is declining as prices are slowly rising.
In the Peoria Arizona Market last month, there were 225 homes sold, 415 are pending sale at present and last month's average home price was $165,697.00
This home is currently listed at $165,000.00 in Peoria Arizona All Peoria Arizona Home Listings may be seen here, or all Peoria Arizona Horse Properties here. Photos and data courtesy of ARMLS and the Cromford Report.
As with other areas in the Phoenix Metro Region, Sun City West Arizona Home inventory is declining as prices are slowly rising.
In the Sun City West Arizona Market last month, there were 73 homes sold, 117 are pending sale at present and last month's average home price was $162,273.00
This home is listed presently for $161,789.00
Sun City Arizona homes for sale may be seen here. Sun City West has no (1 comments)
EQuilibrium Sustainable Housing Project – Harmony House – Building a Better Community! - 02/16/12 10:25 PM
Karen shows all the details of a net zero home with no carbon footprint! That is amazing and for a cost about 20% higher than standard construction. Please leave your comments on her page and be sure to appreciate the drawing of all the features. Via Karen Hawkins, MBA - Langley & Surrey, BC (Royal LePage): EQuilibrium Sustainable Housing Project – Harmony House – Building a Better Community!
The Canadian Housing and Mortgage Corporation (CMHC) created the EQuilibrium project – a national sustainable housing demonstration initiative. The West Coast Harmony House located in Burnaby, B.C. is an award winning entrant in (0 comments)
YouTube Thursdays - 2/16/2012 - How to make the Change with YouTube on March 7, 2012 - 02/16/12 10:21 PM
Debb Janes makes keeping up with the changing youtube format altogether easy! Watch her video here, anyone can follow her illustrated directions! Please leave your comments on her blog. Via Debb Janes, EcoBroker Camas, Washington EcoBroker (The Carl Group, LLC): You can always count on change. YouTube Channels are changing to a new design on March 7, 2012. I’ve already whined about it in a previous post, so today, I’ll adopt a more accepting and mature attitude and embrace the new options. Are you buying that? This week, YouTube Thursdays features an instructional video highlighting some of the YouTube Channel changes and (0 comments)
As with other areas in the Phoenix Metro Region, inventory is declining as prices are slowly rising.
Homes under $100,000.00 usually sell for over asking across the Valley, at present. In El Mirage, there were 53 homes sold last month, 115 are pending sale at present and last month's average home price was $72,627.00
This El Mirage home is tenant occupied and listed at $69.500.00
All El Mirage Home Listings may be seen here, or all El Mirage Horse Properties here.
As with other areas in the Phoenix Metro Region, Glendale Arizona Home inventory is declining as prices are slowly rising.
In the Glendale Arizona Market last month, there were 330 homes sold, 651 are pending sale at present and last month's average home price was $121,857.00
This Glendale Arozona home, complete with pool, is listed at $122,900.00
All Glendale Arizona Home Listings may be seen here, or all Glendale Arizona Horse Properties here.
Color Cop: A Cool Tool for Matching Colors - 02/16/12 11:28 AM
Charita brings us a new tool she got at live Raincamp. I am guessing that spending hours trying to match coors may be something we have all done at one time or another? Please comment on Charita's blog! Via Charita Cadenhead, Your Birmingham, AL Realtor® & Property Manager of Choice (Bham WIiRE Realty LLC ): Color Cop: A Cool Tool for Matching Colors Yesterday I attended a Live Constant Contact Bootcamp from 9am til 4pm. It was awesome. Information obtained on the internet, including webinars is fine. But for me, there is nothing like being in a live classroom environment. A learned a (0 comments)
We love our Canadian Buyers! They buy homes here for retirement or simply to escape their harsher winters. Their economy has been far better than ours of late and their purchases have helped us through our housing meltdown. The Cromford Report maps Canadian owned properties from time to time, this is the most recent.
We may become a colony... eh?
Why Having a Sitemap is an Important SEO Tool - 02/15/12 01:04 PM
Tammy always posts terrific information of use to all, this post on the importance of site maps and how to do one for an independent website is great! Via Tammy Emineth (Personal SEO - Website SEO and Real Estate Marketing): Why Having a Sitemap is an Important SEO Tool A Sitemap is a snapshot of all the pages on your website. It's a file or page on the site that compiles a list of URLs of every page, post or blog on your website. Why is this important? Several reasons actually. Human-wise it's a helpful page for readers to go to if they (0 comments)
The Scottsdale Arizona Real Estate Market has been active and inventory has been reduced. Price per SF has only lost $0.45 per foot over a year ago and sale price as a % of list is increasing.
Scottsdale Arizona is the West's Most Western City and the perfect home for persons of all interests and pursuits. Hundreds of golf courses nearby, Theatres and Art Galleries galore, World Class equestrian competitions in dozens of disciplines are a few of the reasons to move to Scottsdale.
The Rio Verde Arizona Real Estate Market has been active and inventory has been reduced. Price per SF is down, however, and there is still nearly two years of inventory remaining.
Rio Verde Arizona is an exquisite active adult community with world class golfing out the front door of most homes. There is a section of surrounding county included in Rio Verde listings, Horse Property as well as Golf Property may be found in Rio Verde Arizona.
The Paradise Valley Arizona Real Estate Market is consistent with the other more affluent suburbs of Phoenix. Inventory is down but prices remain depressed and may not have found their lowest point.
Paradise Valley Arizona is the most affluent suburb of the Greater Phoenix Metro Area, offers breathtaking beauty, stunning homes and large acreages. Paradise Valley Homes or Paradise Valley Horse Property may be viewed at these links.
The Fountain Hills Arizona Real Estate Market is not entirely consistent with other suburbs of Phoenix. Inventory is down but prices remain depressed and may not have found their lowest point.
Fountain Hills Arizona offers breathtaking beauty and lovely homes. Search available properties for your new address!
Call for an appointment to see your favorites!
Valentine’s Day in Langley, B.C. – Home is Where the Hearts Are! - 02/14/12 04:06 PM
I am not doing a Valentine Card this year for the group so I decided to reblog the best i found. This is it! How wonderful that Karen's little neice saw Karen's home full of love. Enjoy! Via Karen Hawkins, MBA - Langley & Surrey, BC (Royal LePage): Valentine’s Day in Langley, B.C. – Home is Where the Hearts Are!
This picture, drawn by my lovely niece, Ria, was the topic of one of my first blogs as an ActiveRain newbie last April. Ria drew our house with pictures of hearts in the window because that’s what she saw – the (0 comments)
What Is Your ONLINE Image? - 02/14/12 03:54 PM
Emily made a fascinating suggestion about learning what images are attributed to ourselves online. The ongoing attempts of google to ferret our every detail of our lives and put them on the net is pretty funny! See what you think of your online image! Via Emily Medvec ~ Santa Fe NM | CRS SRES | 505-660-4541 (Santa Fe Properties | Luxury Portfolio Affiliate): What is your online image? Do you know?
In a recent review of Facebook’s own stats, I learned 250 million images were uploaded on Facebook daily with a record of 750 million images uploaded on the recent New (0 comments)
Active Rain Shot Caller - 02/14/12 03:21 PM
John is Active Rain's Cheerleader. Always there to comment on blogs and cheer on the efforts of everyone on Active Rain. We have a lot of named ambassadors, and they are wonderful folk, but John out-does them all with his constant support of us all. He is also an accomplished talent scout! Via John McCormack- Owner/Broker REALTOR, e-PRO (Albuquerque Homes Realty * www.AlbuquerqueHomes.com): Active Rain Shot CallerOne of my personal goals here in Active Rain was to read and make suggestion for possible feature posts AKA Active Rain Shot Caller. My earliest newbie goal was to get 10 shot calls, that quickly (3 comments)
The Carefree Arizona Real Estate Market is less active than other suburbs of Phoenix. The average selling price there was $668,220.00 over the 86 homes sold there in the last year. There are fewer buyers qualified to purchase homes in this price range under present lending constraints and few cash buyers for properties in Carefree price ranges. Data from The Cromford Report
Price per square foot was at it's lowest point in the third quarter of 2011 at $164.96, that correlates well with the rest of the region. (3 comments)
I didn't see this on the news, a friend sent it to me. I found it to be pretty impressive, and you tube is loaded with testimonials from people who had cognitive issues and tried this inexpensive remedy.
See what you think.
I already bought mine, we have been using it about three days. Hey, I did remember I was gonna blog this!
Today is day 10 of the Adkins diet and Marge. Eight lbs gone to date and I am sure if my adherence to the diet guidelines had been a bit better I would have a couple more pounds off now.Still I am happy with my progress. The weight that is departing is fat and it is leaving from where I most want it gone. I occasionally do crave sugar. Mostly I miss milk. I believe in cows...
These are the latest statistics for the Phoenix Arizona Real Estate Market. Comparing a year ago to February 9th of this year, the chart tells the story. Phoenix is our central city and our largest market. We have nearly the same number of active listings today as a year ago. Days inventory is also about the same. There is a modest decrease in price per square foot and sales price as a percentage of list price.
Phoenix Arizona real estate market prices are at an all time low but (2 comments)
These are the latest statistics for the New River Arizona Real Estate Market. Comparing a year ago to February 2nd of this year, the chart tells the story. We have nearly the same number of active listings today as a year ago. Days inventory is also about the same. There is a significant increase in price per square foot and a very small decrease in sales price as a percentage of list price.
New River Arizona real estate market prices are increasing but remain low for the (0 comments)
These are the latest statistics for the Laveen Arizona Real Estate Market. Comparing a year ago to February 2nd of this year, the chart tells the story.
Active listings have fallen to fewer than half as many as were available a year ago. We now have less than two months inventory. Price per square foot is creeping up and price as a percentage of list price is stable.
Laveen Arizona real estate market prices remain low but are beginning (2 comments)
These are the latest statistics for the Anthem Arizona Real Estate Market. Comparing a year ago to February 2nd of this year, the chart tells the story.
We have nearly the same number of active listings today as a year ago. Days inventory is also about the same. There is a modest decrease in price per square foot and sales price as a percentage of list price.
The Anthem real estate market prices remain down and it is a wonderful time to find a new home there. (0 comments)
Top five regrets of the dying - 02/07/12 01:07 PM
Top five regrets of the dying This is from the UK Guardian. It is an important re-blog. We need this information now, not whan it is too late to do the things that in the end, will prove to have been the important choices in our lives. I have been a hospice nurse and I have heard these same regrets expressed. We all need reminders to make the best choices!
A nurse has recorded the most common regrets of the dying, and among the top ones is 'I wish I hadn't worked so hard'. What would your (15 comments)
A bargain is only a bargain if it fits! - 02/07/12 01:32 AM
Valerie presents a wonderful analogy here comparing bargin rack clothing and bargain home shoppers. A perfect analogy and one we should all have available to use to explain to home bargain shoppers how it works. Via Valerie Baker - Spokane Realtor® (Exit Real Estate Professionals): February is a great month for bargains! Who doesn’t love to find the perfect piece of clothing on a clearance rack at their favorite store? How about shoes marked down 65 to 85% with another 15% off if I buy them now? Count me in!
But sometimes, the clearance items just don’t work. The shoes pinch my toes! OUCH! Or (0 comments)
Our annual parades are typical of small town parades everywhere. The whole community participates, the street is lined with families and there is fun for all.
It all started with a fly-over by biplanes.
The beginning of the street level events.
Laveen has some subdivisions where there used to be fields of cotton, barley and alfalfa. There are, however, lots of fields left. Lots of small acreages and people keep lots of livestock. We also have a few large dairy operations and those of (10 comments)
What if? What if you could learn to change your life for the better, and it required a few minutes a day for only 21 days? What would you pay for that knowledge? How far would you go to learn that? This Ted Talk will give you that information free, here, now at your computer. It is laugh-out-loud funny and takes 12 minutes of your time. Is it worth it to you?
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.