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.
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.
After the avalanche of email I received from the Windows XP article I wrote last month, I thought perhaps it would be nice to address some rather interesting short topics. Just for the record, RW, at last check, the sky has not fallen, nor is it expected any time soon.
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.
Color May 8 as Red Day. That’s when agents with Keller Williams Realty Sonoran Living (KWSL) will be helping to feed Tempe-community families by collecting food items for food boxes. The goal is to give 100 food boxes to the Kyrene Schools Community Foundation, a local school resource center.
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.
Lisa Reinhart with Keller Williams Realty Sonoran Living recently completed a luxury home marketing training course offered by the Institute for Luxury Home Marketing. The course — which covered such topics as demographics of the affluent, lifestyle segmentation, trends and amenities in today’s luxury home product, and creating a marketing plan for the multimillion dollar property — was taught by Laurie Moore-Moore, President of the Dallas-based Institute for Luxury Home Marketing and author of the book, “Rich Buyer, Rich Seller! The Real Estate Agents’ Guide to Marketing Luxury Homes.”
Duane Louton with Keller Williams Realty Phoenix recently completed a luxury home marketing training course offered by The Institute for Luxury Home Marketing. The course, which covered such topics as demographics of the affluent, lifestyle segmentation, trends and amenities in today’s luxury home product, and creating a marketing plan for the multimillion dollar property, was taught by Laurie Moore-Moore, president of the Dallas-based Institute for Luxury Home Marketing and author of the book, “Rich Buyer, Rich Seller! The Real Estate Agents’ Guide to Marketing Luxury Homes.”
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.