Jamie Geiger-Realtor Gilbert, Arizona

Phoenix Real Estate-Maricopa County Market Statistics

Jamie Geiger (Thompson's Realty) — Thu, 12 Mar 2009 09:37:00 -0500

There was a significant drop in residential resale inventory in March 2009. In Feb 2009 there were 57,435 active listings and in Mar 2009 there were 48.836. As of today there are 44,380 residential homes for sale (single family homes, condos etc)

Phoenix Home Prices Still Declining

I get asked a lot- are we at the bottom? I wish I had a crystal ball. In my opinion once the foreclosure inventory is flushed out, prices will stabilize. Inventory is declining so that is a good sign.

Phoenix Foreclosures

Currently of the active listings, 9947 are foreclosures.

Queen Creek Real Estate- The Pecans

Jamie Geiger (Thompson's Realty) — Wed, 03 Sep 2008 21:04:10 -0500

My son asked my last week "if you could live anywhere, where would it be?" At the time I told him I was very happy where we live now, except I would like to remodel my kitchen. Then yesterday we drove by "The Pecans" the neighborhood my oldest son loves to drive through, and I changed my answer. If I were a millionaire- this is were I would build my dream house.

Located in Queen Creek, on the SW corner of Chandler Heights and Ellsworth, the Pecans features the ultimate in luxury living, in a gated 260 acre pecan orchard.

Featuring 3/4 acre homesites and uniquely designed luxury homes with a European flair. All homes are held to a specific design guide to ensure only the finest homes will be built in this very exclusive community.

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Gilbert Real Estate-Market Statistics-July 2008

Jamie Geiger (Thompson's Realty) — Thu, 07 Aug 2008 01:11:37 -0500

These Gilbert Real Estate Market Statistics Currently there are 2306 Gilbert homes for sale. Inventory is up- compared to June 2008 where there were 2222 active listings at the time the post was written.The number of sold homes and pending sales remain flat. The current absorption rate of es for sale is about 6.5 months.

For the month of July there were:

* New Listings: 636 *

Pending Sales: 403 *

Sold Homes: 354

Listing Status Gilbert AZ Real Esate July 2008 Gilbert AZ Home Listings June 2008

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Gilbert Real Estate-Market Statistics-July 2008

Jamie Geiger (Thompson's Realty) — Thu, 07 Aug 2008 01:11:37 -0500

For the month of July there were:

* New Listings: 636 *

Pending Sales: 403 *

Sold Homes: 354

Listing Status Gilbert AZ Real Esate July 2008 Gilbert AZ Home Listings June 2008

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Phoenix Real Estate-Market Statistics May 2008

Jamie Geiger (Thompson's Realty) — Tue, 24 Jun 2008 02:17:42 -0500

There are currently 10,479 active listings (single family homes) for the Phoenix Real Estate Market. For the month of May there where 2561 new listings, 1260 pending sales and 984 sales. The current absorbtion rate or inventory of homes is currently 10.6 months for single family homes in Phoenix.

The average sale price for a Phoenix home in May 2008 was $261,272, compared to an average sales price of $260,111- showing a ever so small increase, but the good news- it did not decrease.

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Chandler Real Estate Market Statistics May 2008

Jamie Geiger (Thompson's Realty) — Thu, 12 Jun 2008 16:43:05 -0500

Currently there are 2012 active listings in the Chandler AZ Real Estate Market. The inventory of single family homes has remained relatively flat. The current absorbtion rate or supply of homes is 5.9 months-approaching a balance market. The average sales price continues to decline with a 5% drop from April 2008.

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Buying a Foreclosure in Phoenix

Jamie Geiger (Thompson's Realty) — Mon, 09 Jun 2008 22:56:16 -0500

If you are looking for a deal in Phoenix and are thinking about purchasing a bank owned (REO) property in the Phoenix Real Estate Market- you may be facing or reliving 2005, the housing boom that saw multiple offers, as many as 15-20 offers for one home.

As banks are trying to unload these homes, they are slashing the prices, which are bringing the buyers and multiple offers. So be prepared for this new round of bidding wars. The tactic, as it was in 2005, price it right and the price will be bid up.

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Tempe AZ Real Estate-Market Statistics-May 2008

Jamie Geiger (Thompson's Realty) — Fri, 06 Jun 2008 01:42:41 -0500

Tempe AZ Real Estate-Single Family Homes-Market Statistics May 2008

Current Listings: 520

New Listings: 145

Pending Sales: 110

Sold Homes: 117

The average sales price fell from $303,735 to $270,275 a decrease of 12%.

Tempe AZ Real Estate- Average Sales Price-May 2008

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New to the Group

Jamie Geiger (Thompson's Realty) — Thu, 05 Jun 2008 01:08:33 -0500

Thanks Duane for the invite and I love the concept of keeping it positive and helping others. I will do my best to help newbies and only post the good stuff

Jamie

Queen Creek AZ Market Statistics-May 2008

Jamie Geiger (Thompson's Realty) — Thu, 05 Jun 2008 00:20:10 -0500

Queen Creek AZ Real Estate-Market Statistics May 2008

Current Listings: 1705

New Listings: 519

Pending Sales: 425

Sold Listings: 408

Average sales price continues to decline for homes in Queen Creek, home prices fell 5% from April to May 2008. The news is not all bad, however, the number of sold homes is increasing and new listings are decreasing. The current absorbtion rate or inventory of homes is now at 4.17 months, which indicates a shift in the market. With the prices dropping-there are again multiple offers on many homes.

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Gilbert Real Estate Market Statistics-May 2008

Jamie Geiger (Thompson's Realty) — Wed, 04 Jun 2008 11:00:59 -0500

Here are the May numbers for Gilbert Real Estate-some positive trends are emerging. There are currently 2350 Active listings, with 217 homes are REO/Bank Owned, and 397 are short sales.

The absorption rate is now at about 6 months approaching a balanced market.

Gilbert Real Estate New Listings : 581 Pending Sales: 414 Sold Homes : 379

Gilbert Home Sales-Average Sales Price

Prices continue to decline the average sales priced declined 3% from April to May 2008.

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Phoenix Real Estate-What is the Lender’s Cost of Foreclosure and What is Going on in Congress?

Jamie Geiger (Thompson's Realty) — Sun, 01 Jun 2008 00:29:18 -0500

This article came to me via email, and with permission of the author, Amy Swaney, CMB Vice President Artisan Mortgage, I am posting, as I thought there is some great information for Phoenix home buyers and home sellers and tips if you are interested in buying a Phoenix foreclosure. “When speaking with prospective buyers and educating them on the current market conditions in regards to short sales, foreclosures and REO properties, many are not aware of the logistics and the costs involved in a foreclosure. Many buyers getting their feet wet in this contemporary real estate environment have unrealistic expectations of their negotiating position and are misinformed of the position that the banks, lender’s, investor’s or servicers’ are in after the foreclosure process. I thought this was some great information on understanding the realities of foreclosures. ..More..

Cleaning for the Event-Selling a Home in Phoenix

Jamie Geiger (Thompson's Realty) — Sun, 25 May 2008 02:14:55 -0500

Apparently, I am an "event" cleaner. I have been cleaning the house this evening and both of my teenage boys asked me "Why are you cleaning" my response "The house is dirty" With 4 dogs and 2 days of rain- there is dirt tracked in from the dogs and the weekly dust bunnies that have collected- It is time to clean, vacuum and remove the dust that collects very rapidly when you live in the boon docks- with dirt roads leading to you house. ..More..

Vampires in Phoenix

Jamie Geiger (Thompson's Realty) — Tue, 20 May 2008 00:23:27 -0500

Well probably not, but with the tempature in Phoenix today at 109 today, my dogs sleep all day and come to life when the sun goes down-much like a bat or vampire and after all they have those big canine teeth :)

As a reminder if you are selling your home in Phoenix in the hot summer months here are some things to remember:

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Buyers camping out to buy homes in Phoenix?

Jamie Geiger (Thompson's Realty) — Wed, 14 May 2008 00:09:15 -0500

What year is this? 2005- no 2008-and buyers are camping out to buy homes?

Check out the story. Mountain Bridge Blandford’s new community will start selling homes on Saturday. “The developer plans to release at least 75 home sites Saturday morning and possibly more “if there’s enough latent demand,” said Joannie Flatt, a spokeswoman for the development.” more......

Tempe Real Estate- Market Statistics April 2008 Single Family Homes

Jamie Geiger (Thompson's Realty) — Tue, 06 May 2008 22:36:07 -0500

New Listings : 168

Pending Sales: 48

Sold Listings: 69

The total number of listings (single family homes) in Tempe is currently 511 , giving Tempe about a 7 month inventory of homes or absorption rate.

March and April showed an increase in sales price.

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Chandler Real Estate-Market Statistics April 2008

Jamie Geiger (Thompson's Realty) — Tue, 06 May 2008 00:36:08 -0500

New Listings : 573

Pending Sales: 334

Sold Listings: 248

The total number of listings (single family homes) in Chandler is currently 2037 , giving Chandler about a 8 month inventory of homes or absorption rate. Including in the current inventory of homes for sale in Gilbert 168 are bank owned (REO) and 235 are short sales.

In April 2008, 56 of the homes sold in Chandler were REO and 28 were short sales, so the percentage of distressed home sales was approx 34%.

April showed an increase in sales price, but there were several 1 mil + homes that sold, that may be a false positive to this months increase in ave sales price. The average sales price dropped 10% from since Sept 2007.

New listings in Chandler outpaced sales, which will indicate an increased inventory- This is a new metric I will be tracking-Chandler Real Estate inventory (current active listings)

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Gilbert Real Estate- Market Statistics April 2008

Jamie Geiger (Thompson's Realty) — Sat, 03 May 2008 17:44:13 -0500

Gilbert Real Estate April 2008- List Price vs Sale Price

New Listings : 663

Pending Sales: 358

Sold Listings: 273

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How to Make money in a decling real estate market

Jamie Geiger (Thompson's Realty) — Sat, 26 Apr 2008 02:43:09 -0500

Tax Liens.

With an increasing number or Phoenix foreclosures and short sales have you ever considered buying a tax lien?

The source of this information is from http://treasurer.maricopa.gov/research/tutorial/tutorial.htm

Tax Lien Sale Guide - Introduction

"The Tax Lien Sale provides for the payment of delinquent property taxes by an investor. The tax on the property is auctioned in open competitive bidding based on the least percent of interest to be received by the investor.

Property taxes that are delinquent at the end of December are added to any previously uncollected taxes on a parcel for the Tax Lien Sale. The sale takes place in February of each year. Please read the disclaimer before deciding to bid, and see our lien FAQ page and lien history page.

Parcels whose taxes are subject to sale will be advertised, in January, in a Maricopa County newspaper of general circulation. They are listed by sequence number. Parcels fall into 1 of 2 groups. Each group is sorted by parcel number.

The advertisement appears about three weeks before the auction and is also posted on the internet.

Copies of the newspaper are usually available for purchase at Treasurer's Office. In addition a CD of those parcels can also be purchased.

The investor is responsible for all research on the parcels available for auction. County maps for research may be obtained by visiting the Maricopa County Assessor's Office."

Phoenix Real Estate-Desert Rose

Jamie Geiger (Thompson's Realty) — Thu, 24 Apr 2008 22:18:48 -0500

I visited the new development-Desert Rose from Beazer Homes today. If you are looking for some great views of Phoenix, Desert Rose offers homesites with views of the city to the North and mountains to the South.

The community features 88 home sites, and 6 different floor plans ranging from 2433 sqft to 4066 sqft. <...more..>

Queen Creek HOA Congress Proposed

Jamie Geiger (Thompson's Realty) — Wed, 23 Apr 2008 22:50:38 -0500

Here is an interesting article from the East Valley Tribune- Q.C. resident's proposal would tackle blight.

In the Maricopa County portion of Queen Creek that makes up a majority of the town limits, there were 247 foreclosures between January 2007 and January 2008. There are currently 281 houses in foreclosure in the same area, according to real estate data analyst Tom Ruff with Glendale-based Information Market.

Queen Creek resident Chris Clark is proposing an HOA Congress to try help combat the problems realated to the high number of forclosures including weeds, green pools and vandalism.

If you take a drive down any street in the Valley- it is not hard to pick out the homes that have been abandoned- the homes are overgrown with weeds.

100% Financing in Rural Parts for Maricopa and Pinal Counties

Jamie Geiger (Thompson's Realty) — Tue, 22 Apr 2008 22:48:52 -0500

It's true. 100% financing is available for some areas of Maricopa and Pinal County through Guaranteed Rural Housing Program. Some properties in Queen Creek, Maricopa, Chandler Heights, Goodyear, Buckeye, Surprise, Casa Grande, North Phoenix and the far surrounding areas may qualify. And get this: No mortgage insurance! No funky prepayment penalties! No declining market! Awesome interest rates! Closing Costs can be included in the loan amount! So what is the catch? (There is always a catch) No pool. Income limitations (but they are reasonable). If you are interested in more information feel free to call -480-216-4849 or email me at jamie_geiger@cox.net

Gilbert Real Estate- Short Sales vs REO Properties

Jamie Geiger (Thompson's Realty) — Fri, 18 Apr 2008 02:06:25 -0500

There was an interesting article today "Why Lenders are Leery of Short Sales"

According to research from Clayton Holdings Inc. indicates that lenders lose only 19 percent of the loan amount on average with a short sale, compared to 40 percent on a traditional foreclosure sale. However, short sales require approvals from primary lenders, servicers, investors, and home-equity lenders--a process that can take several months to complete.

So I decided to look at Gilbert Real Estate listings and look at the difference in list price vs sold price of homes that closed as short sales and those that have closed as REO as well as how they compare to homes for sale from "non-distressed" sellers.

This chart depicts that data (NOTE: the data is only as good as the agent that enters it into the MLS )

I looked at homes listed in Gilbert, 1800-1900 sqft, with home sales from Jan 2008 to the present. "Normal" listings are homes for sale in Gilbert from "non" distressed sellers.

From the sold data: Ave Sale Price: Normal = $256,355, Short Sales = $226,184 and REO = $204,941

Normal/REO % difference = 21%

Normal/ShortSale % difference = 10%

The percentage's may not be the same as national data- but real estate is local and this is a small sample of data.

As a buyer looking for a "great deal" in a REO or short sale- there are some things to keep in mind. Most, if not all, REO properties are sold "AS-IS" no repairs will be made, there will be no disclosures and in some cases the homes are not in great condition. The same can be said about short sales.

Gilbert Real Estate Market Trends- March 2008

Jamie Geiger (Thompson's Realty) — Tue, 08 Apr 2008 22:04:04 -0500

Here are a couple of charts showing the current Gilbert Real Estate Trends regarding number of new listings vs sold listings and Average List Price and Average Sold Price.

Good news- the number of sold listings has been on the increase since Jan 2008

Gilbert Real Estate Market Watch-March 2008

Jamie Geiger (Thompson's Realty) — Fri, 04 Apr 2008 01:26:56 -0500

Current real estate market conditions in Gilbert favor the buyer at this time.

As of April 3, 2008 there are 2479 single family homes for sale in Gilbert, 339 pending sales and there were 262 sales in Mar 2008. The highest priced home to sell was $985,000, and lowest price home sold for $159,250. The current absorbtion rate of single family homes (inventory of homes) for Gilbert is 7 months.

In Mar 2008 the median single family home price in Gilbert was $287,856, compared to $357,000 in Mar 2007 a decrease of 20%.

As for Gilbert condos and townhomes, there are currently 136 units for sale, with 2 sales in Mar 2008. The highest price unit to sell was $172,500 and the lowest at $114,000.

In Mar 2008 the median condo price in Gilbert was $143,250, compared to $188,535 in Feb 2007 an increase of 25%.

There are some great deals for buyers looking to purchase a home as well as some beautiful custom homes.