ARIZONA REALTORS - DO YOU CARE ABOUT OUR REAL ESTATE MARKET? THEN WHY USE AWC?

By
Real Estate Agent with Homesmart

Realtors…Do you CARE about our Real Estate Market? If so, why are so many of you making it look worse than it really is?

Don’t you believe accurate reporting of numbers, sales and statistics is important?

Do you understand the statement Supply vs Demand creates the market?

Please understand, learn and know that when you put a home in AWC, Active with contingencies, it is still reported as an Active listing. What is a Pending home? A home with an accepted offer. What is an AWC, a home with an accepted offer.

Here in metro Phoenix, the press, economists and reports show 10,190 Pending Single Family Homes here in Metro Phoenix. But there are 5,643 in AWC. This is shaping public opinion in a negative way to what is truly happening in the market.

How many homes are under contract in the valley? 15,833

But that is not what is reported. I am telling you now, if you care about the truth, about reporting accurate information then change all your AWC to Pending TODAY. Change our Market.

Facts (when using AWC as Pending) 27,396 Single Family Homes ACTIVE down 9.2% from Jan 1st 15,833 Single Family Homes PENDING up 29.8% from Jan 1st 5,874 Single Family Homes Closed in Feb 2011. 2nd only to 2005 when 6,188 homes closed 7,856 Single Family Homes went under contract in Feb 2011.

ONE OF THE BIGGEST FACTORS THAT ECONOMIST LOOK AT IS MONTHS OF SUPPLY. THAT IS THE TOTAL NUMBER OF AVAILABLE HOMES (27,396) DIVIDED BY THE TOTAL CLOSINGS (5,874) WHICH EQUALS A 4.7 MONTH SUPPLY OF HOMES.

By all definitions this is a SELLER’S Market! It is not a Seller’s Market here in most cases, that is for further discussion. I believe one reason it is not a seller’s market is due to the inaccurate reporting of numbers. I urge you…if you have a home in AWC, please change it to Pending! Let’s actually use AWC for what it was meant for, when a home is falling out of escrow and you don’t have cancellation documents executed.

Thanks! Jeff Cameron Keller Williams Integrity First 480-502-7699 Jeff@TheCameronTeam.com www.AZReoConnection.com

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