More homes bought in Ahwatukee with mortgages and loans than with cash - Ahwatukee Foothills News: Real Estate

More homes bought in Ahwatukee with mortgages and loans than with cash

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Posted: Saturday, July 13, 2013 3:25 pm | Updated: 12:41 pm, Fri Sep 6, 2013.

The number of homes sold in Ahwatukee this past month of June was slightly less than the previous month. We also saw about 18 percent less than the number of homes sold in June last year (2012).

This past month, in June 2013, we had 164 homes selling in all three Ahwatukee ZIP codes compared to 197 sold homes in June 2012.

Even though the number of buyers purchasing homes with an FHA loan has decreased by about 37 percent compared to last year, Ahwatukee saw more buyers using FHA loans to purchase their home than in May of this year.

Most of the homebuyers using FHA loans purchased homes priced between $200,000 and $299,999, with a few at $300,000 to $399,999 as well as $100,000 to $199,999.

In Maricopa County, the current maximum loan limit for a FHA loan is $346,250 as of Nov. 19, 2012.

This is why we are seeing home buyers purchase with FHA loans at these price bands.

The number of homebuyers who purchased homes in Ahwatukee using cash only also reduced this month. Those using conventional loans stayed about the same as last month.

 

Ahwatukee homes for sale priced $99,999 and below

Only one home in the price range came up for sale in Ahwatukee this past month.

With prices of homes going up, we will be seeing the number of homes for sale in this price range reduce.

This home was a regular sale, there were no new short sales or foreclosures in this price range, that came up for sale in June.

Five homes sold in this price range during the past month of June, with four of them being paid for by cash and the other one being paid for with a conventional loan.

 

Ahwatukee homes for sale priced from $100,000 to $199,999

Forty-six homes were successfully sold in June, but only 25 new homes within this price range were put on the market for sale. The shortage of homes in this price range could be due to these homes being put up for sale with much higher prices.

Comparing this to homes priced higher than this price range, more new homes came up for sale than the number of homes sold.

The average days homes in the price range took to sell in Ahwatukee was 45 days, with the highest one selling at $220,000, which is higher than this price range.

Only 24 were paid with cash.

 

Ahwatukee homes for sale priced from $200,000 to $299,999

Fifty-eight homes were put on the market in this price range with two being short sales and three being foreclosed homes.

With an average of 46 days to sell, 54 homes priced within this price range sold. The average selling price was $247,394.

Only 12 of the 50 homes were paid for with cash, 25 of these homes were bought with a conventional loan and 12 were FHA loans.

This price range saw the most homes being bought with an FHA loan. With the next highest being in the next price range.

 

Ahwatukee homes for sale priced from $300,000 to $399,999

Two out of the 45 new homes that came up for sale were short sales with no foreclosures coming up for sale in this price range.

Thirty-seven homes were sold after an average of 54 days on the market with the highest priced one selling for $395,000. The lowest one sold for $305,000 and all 37 sold at an average price of $348,116.

This price range of homes saw seven of these homes been bought with a FHA loan and only four homes with cash.

 

Ahwatukee homes for sale priced from $400,000 to $499,999

At an average of $447,025, 16 homes were sold in this price range after an average of 65 days of being on the market.

One foreclosed home and one short sale home were included in the 24 homes that came up for sale in the month of June, in addition to the ones that were currently on the market for sale.

Only one home was paid for with cash in this price with the rest being bought with a conventional loan.

The highest priced home sold for $495,000 and the lowest sold for $395,000.

 

Ahwatukee homes for sale priced from $500,000 to $599,999

Almost even, 10 homes were sold in Ahwatukee in this price range with 11 homes also being put on the market this past month.

All 10 homes were bought with a conventional loan after being on the market for an average of 55 days.

There were no buyers with cash and the highest one sold for $588,000 and the lowest one sold for $500,000.

This price range did not see any foreclosures or short sales coming up on the market in June, all 11 new homes were regular sales.

• Ahwatukee Foothills resident Dorette Oppong-Takyi is a real estate agent serving Ahwatukee and surrounding areas. Reach her at (480) 442-0779 or www.luxurylivinginphoenix.com.

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School highlight: Ambassador Academy

Daniel Ochoa/AFN
Dr. Elba Iris Reyes, principal at Ambassador Academy, poses with her students at Ambassador Academy Wednesday, Sept. 3, 2014.

For the past five years, Ambassador Academy in Ahwatukee has been offering its students a small-classroom setting.

Each class has no more than 15 students, which Dr. Elba Iris Reyes, Ambassador Academy’s principal, said is what sets it apart from other charter schools.

The school’s current enrollment stands at 47 students from kindergarten through fifth grade.

“We have academic excellence in teaching and learning, we have high expectations for our teachers and their practices, and we have high expectations for our students,” Reyes said. “We also focus on leadership and character development.”

Ambassador Academy’s Parent Teacher Organization is devising fundraising opportunities to raise money for the school’s playground facility.

For additional information about Ambassador Academy, visit www.ambassadoracademy.us.

• Compiled by Daniel Ochoa.

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