As always, my partner Stacey and I are happy to provide you with The 411 on Arizona Real Estate. We bring this to you each month to help keep you informed with what's really going on in the market. Be sure to check out our blog regularly as we do update it with information throughout the month as well!
This month's 411...
- Catchin' Up - While I send this email monthly, we will be updating the blog more regularly and in this section I highlight some topics you may have missed.
- Just the Facts Ma'am - This is short, sweet and to the point. It focuses on just the numbers.
- How Does that Make You Feel - An interpretation of the numbers and what we're seeing out in the field.
Catchin' Up
Here's some of the articles we've posted on www.The411onArizonaRealEstate.com in the last month. If you're interested in having information (the 411) on Arizona Real Estate, be sure to sign up for the RSS feed!
More 411...
Just the Facts Ma'am
And the song remains the same... The inventory continues to decline and sales are still high. While not quite as high as last month, with the number of active listings also reduced the supply continues to decline.
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New Listings
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Active Listings
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Sold Listings
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Months Inventory
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Jul/2009
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12,516
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38,268
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9,084
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4.21
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Jun/2009
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12,625
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39,546
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9,301
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4.25
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May/2009
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10,946
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42,374
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9,224
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4.59
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Apr/2009
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11,176
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47,467
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8,498
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5.59
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Mar/2009
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14,322
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52,047
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7,572
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6.87
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Feb/2009
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12,726
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53,529
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5,421
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9.87
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Jan/2009
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13,813
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55,387
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4,684
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11.82
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How Does that Make You Feel
In a word, busy! With the supply of homes continuing to decrease and the number of active buyers on the increase the challenge is to find the homes that are ‘truly active'. My partner and I call each and every listing agent before we go see a home to see what the true status is. More often than not, we are finding that homes that are listed as ‘Active' actually have several offers already submitted to the bank. In most cases, these offers are for well over asking price. The trick is to find the homes when they first come on the market and get a solid offer into the listing agent quickly.
As many of you who are receiving this email know, there's a bit of a learning curve in the beginning of the buying process. We do our best to set the expectations with you and let you know that the homes will be moving very quickly and that we really need to jump on those that are truly available.
Because so many folks are house hunging over the weekend, it's ideal if you can find time during the week to look at homes. This way, if we submit an offer, we have a good chance of getting it in and submitted to the bank before the weekend rush. I've included a graph of Scottsdale and Phoenix to give you a visual of what's going on around the valley. If you'd like to see a specific city, email me and I'll be happy to send it to you!
As always, if you have any questions or we can help you in any way please feel free to call or email!
;)
;)
