According to the November 2014 monthly report from Arizona State’s W.P. Carey School of Business, our Phoenix housing market is unlikely to see a significant boost until next year. Here are some of the highlights from the report.
According to recently released rankings of projected top homebuilding markets for next year by the national housing research firm Metrostudy, metro Phoenix is ranked No. 10. Metro Phoenix is also ranked No. 9 on Metrostudy’s list of areas that will see the biggest gains in home sales during 2015.
There are many important factors when sellers are preparing to market their home such as timing, pricing and market strategy. Although, one of the most important things that sellers often overlook is staging their homes to sell prior to photos and showings.
The month of August saw a 5.2 percent decrease in the number of closed sales compared with July 2014. Approximately 5,800 residential properties sold in Maricopa County. Sellers may be interested to know the follow statistics before pricing and listing their homes.
Aaron J. Nelson, born June 2, 1982 in Lake Preston, S.D, passed away in the early morning of Aug. 21 after battling a near death hospitalization a year prior. Aaron attended elementary schools in Sturgis and Rapid City, S.D., and after moving to Ahwatukee he attended Kyrene Centennial Middle School and graduated in 2000 from Mountain Pointe High School. He was employed by the Ahwatukee Target for four years as a supervisor and in 2004 he enlisted in the U.S. Air Force. Aaron flew on AWACS reconnaissance and surveillance missions around the world and achieved the rank of senior airman. Two years ago, he married Shauna Myers of Montana, who also enlisted in the U.S. Air Force and outranked him (“at work only”).
Rhoda Jane Claydor, 98, went to be with the Lord on July 21. She was born in Dickenson County, Va., grew up in Pikeville, Ky., raised her family in Oxon Hill, Md., and spent most of her retirement in Ahwatukee, with the past two years living at Mountain Park Senior Living. She was active at the Pecos Recreation Center and with Ahwatukee Foothills Family YMCA’s Outreach Programs for Ahwatukee Seniors (Y OPAS).
With the average age of our properties here in Ahwatukee at around 20 years there seems to be a shift in what is most important to buyers out here looking to purchase. Ten years ago interior upgrades like granite counter tops, newer fixtures and flooring were on top of most buyers list when searching for a home. Top of the radar these days are big-tickets items that have reached their life span like roofs and air condition units. Another non-cosmetic item high on the list is energy efficiency such as newer windows and solar equipment.
The number of rental homes offered for lease on ARMLS (Arizona Regional Multiple Listing Service, excluding vacation rentals) was 3,695 as of April 1, 2014, dramatically lower than the 4,122 we saw a month earlier.
Having just read another article in the Ahwatukee Foothills News that the ACLU is claiming civil rights abuses and are filing suit against the Border Patrol Agency (“ACLU files suit against Border Patrol over immigration enforcement,” April 28 at ahwatukee.com), they want the agency to provide information roving patrols that operate far from the border and use race to make unauthorized stops.
With the strong gains in home values over the past two years, prices in many Ahwatukee neighborhoods have started to peak. The past few months have been categorized Valleywide as a “Buyer’s Market.” The final numbers for March are in; inventory is down while pending and closed sales are up. We’re returning to a more balanced real estate market. According to the National Association of Realtors, the current months of inventory levels across the country are around four months. A balanced market is three to four months of inventory. Ahwatukee is currently at four and a half. That’s great news for a seller.
After a remarkable rebound, the Phoenix housing market is cooling down. The latest figures show Phoenix is off to a less than promising 2014. The number of homes for sale in January stood 29 percent above their levels of a year earlier, according to the Arizona Regional Multiple Listing Service Inc. A new report from Arizona State University’s W. P. Carey School of Business has found a 4 percent drop in home prices in January.
The W.P. Carey School of Business’ February housing report reveals that new home sales are showing the largest percentage price increase in all three measures over the last year for the greater Phoenix area.
The former NFL player, who spent time with the Indianapolis Colts, Minnesota Vikings and Philadelphia Eagles, is participating in this weekend’s Bonnie J. Addario Lung Cancer Foundation 5K in Phoenix. He’ll be available for autographs and photos at Tempe’s Salut Kitchen Bar on Saturday evening and Sunday afternoon.
It’s not often that I can say First Lady Michelle Obama and I run in the same circles, but this is OUR year! You may have noticed that recently, the First Lady celebrated her 50th birthday; she is a fellow 1964 birthday. Yes, I am admitting it, this year I will also be celebrating my 50th birthday — although a few months away yet.
The Ahwatukee housing market made great strides in 2013 and we expect this trend to continue heading into next year. However, the pace of growth and appreciation may be at a slower rate in 2014 compared to the two previous years. The housing market has been through turbulent conditions since 2002. A market that is slower paced, non-distressed and balanced with normal conditions may be a relief for those operating in it and preventing dangerous and fragile conditions.
Once again, the sun is shining on the housing market in Phoenix. Arizona is attractive once again to buyers with retirement, and a warmer climate, on the horizon. In 2012, domestic migration climbed high as it had been in the past five years as Arizona welcomed 26,000 migrants from other states. Across the state, as mortgage rates are decreasing and home values rising, the housing market is enjoying an influx as baby boomers choose our sunny skies. Even local retirees are opting to downsize, placing their current homes up for sale in favor of less maintenance.
In the wake of the downturn that launched in 2008, it’s old news by now that the construction industry took a massive hit. Nearly half of those in the construction business were forced to find work elsewhere. Today, even as the housing market — and by default the contracting industry — rejuvenates, reports over the summer showed a weaker pool of skilled labor available to meet the spike in demand for new homes. But you wouldn’t know it by all the new homes that will be available in Ahwatukee!
Ahwatukee Foothills has a great mix of housing products from condominiums to million-dollar custom estates. The overall market has seen an incredible bounce back in the last 12 months. The “Luxury Market” was the last to be hit and has been the last to recover. You may wonder how this segment of the market fares in comparison to performance across median single-family homes across the Valley.
The outlaw romance "Ain't Them Bodies Saints" is a lyrical, sepia-toned folk tale, awash in 1970s filmmaking and the kind of stylized folksiness that pickling Brooklyn hipsters with handlebar mustaches will positively drool over.