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So here we are, December, again. As I get older it certainly seems to get here faster every year. I feel like I was just chatting with folks about what may happen in real estate in 2013. It turned out we had some interesting things happen here in our market. The year started off strong with lots of appreciation and a great demand from buyers. The buying frenzy continued through June until it sort of fell off a cliff in the summer. When we usually see the October pick up, the government shut down for three weeks and that changed the typical cycle for that time of year. We had a nice increase in buyer interest towards the end of the year and from what we can see now the spring season will be typical for our area.
Veterans can benefit from their service to our county with special mortgage financing options.
Things have been changing in ZIP codes 85044, 85045 and 85048. We’ve gone from a Seller’s Market trending to a Buyer’s Market and now stabilizing into a more “normal” market. The number of property sales for the last two months have been consistent. Sales price per square foot remained stable for four months, dipping slightly in October. I emphasize “slightly” as you will see from the numbers.
In case you are wondering how to vote on the Kyrene School District and Tempe Union High School District bond overrides, here are some thoughts.
Do you belong to a union? Take advantage of your union membership and get money back when you buy a home. If you are an active or retired union member or the parent or child of one, you may be eligible for exclusive home financing benefits through a major lender.
The trend is changing in ZIP codes 85044, 85045 and 85048. What was a strong sellers’ market, is becoming a “normal” market for both buyers and sellers. Properties are not flying off the shelf in a matter of hours. There are fewer multiple offers on them, so they are typically not selling for more than full price. Why are we seeing a change? There are many factors that enter into the equation.
How can you save $5,000 when you close on your new home and continue the savings for the life of the loan? It is very easy. FHA loans have become more and more expensive, so lenders have come up with conventional options to FHA financing. FHA continues to increase the cost of mortgage insurance premiums, which adds hundreds of dollars to the monthly mortgage payment pricing some buyers out of the market for a new home. Lenders are now offering 3 percent down conventional loans, which do not require 1.75 percent of the loan amount up front.
Stacey Lykins, an Ahwatukee real estate agent with West USA, received her broker’s license with the state of Arizona and has been made associate broker with West USA.
In August, the most expensive residential home in Ahwatukee sold for $1.9 million. The unique, custom built 6,000-square-foot home located in the Sanctuary subdivision sold at $317 per square foot and was quickly off the market in 13 days.
The program is called “Home in Five for Maricopa County.”
The July numbers continue to show improvement in ZIP codes 85044, 85045 and 85048. July property sales totaled 169, down 3 percent from last month but up 16.6 percent over July of 2012. The median sales price in July was $291,000, up 16.4 percent over the prior year. Currently the medium list price is $345,000, which is down 1 percent over last month and up 30 percent over prior year same month (PYM). July 2013’s average sales price was $320,350, up 2.7 percent over last month and up 23.1 percent over PYM. July 2013 sales were at their highest level compared to July of 2012 and 2011. More properties are closing escrow and July’s YTD sales of 1,079 are 12 percent ahead of last year’s year-to-date of 963 sales.
While a few Ahwatukee residents have strong opinions about the South Mountain Freeway (SMF) Loop 202, one way or the other, a majority are totally ambivalent about the road. Like most Valley residents, they are hoping for anything at all that will ease their commute by reducing stop-and-go congestion on the Interstate 10. Most of us have been paying an increased sales tax for transportation projects since 1985 and any tangible evidence of our money at work is gratifying. Since very little of Ahwatukee is south of Chandler Boulevard, the impact on most of us will be marginal.
The news continues to be good with our market trending upward. Combining the three area ZIP codes of 85044, 85045 and 85048, June property sales totaled 174, down 13 percent from last month but up 30 percent over June of 2012. The Median Sales Price in June was $263,900, up 9 percent over the prior year. Currently, the medium list price is $349,900, which is up 4 percent over last month and 31 percent over prior year same month (PYM). June 2013’s average sales price was $311,835, even with last month and up 14 percent over PYM. June 2013 sales were at their highest level compared to June of 2012 and 2011. June YTD sales of 910 are 11.2 percent ahead of last year’s year-to-date of 818 sales.
There was an impressive turnout at the Foothills Golf Club Tuesday night when the Arizona Department of Transportation (ADOT) hosted a final community forum on the Draft Environmental Impact Statement (DEIS) of the South Mountain Freeway.
Learn about fair housing practices and laws at a free, three-hour workshop from 9 a.m. to noon this Friday, June 21, at Calvin C. Goode Municipal Building, 251 W. Washington St., 10th floor, room CCG East.
It’s signed, sealed and delivered. The home of your dreams is now a reality and you’re ready to decorate, entertain, and nest. Then suddenly, the dream turns into a nightmare. The air conditioning unit crashes — right in the middle of the July swelter. When else?
Combining the three area ZIP codes of 85044, 85045 and 85048, April property sales totaled 172, up 8.9 percent from 158 in April of 2012 and 25.5 percent higher than the 137 sales last month. The Median Sales Price in April was $249,500, up 31.3 percent from $190,000 in April of 2012 and up .6 percent from last month. April 2013’s average sales price was at its highest level compared to 2012 and 2013.
Gayle Dorothy Hadden (nee Buff), 67, of Ahwatukee and formerly of Wayne, N.J., passed away peacefully at home on May 27, surrounded by her family. Gayle worked for J.P. Morgan Chase for many years. She grew up in Lyndhurst, N.J., and had lived in Wayne since 1968 before moving to Phoenix 20 years ago. Gayle was a 4-H leader, a Remax Realtor, a member of the Pompton Falls Fire Co. 3 Women’s Auxiliary in Wayne, a nursery school assistant, and a member of the Junior Women’s Club and PTA. Gayle’s interests included sewing, knitting, golf, cruising in her convertible, great music, laughing much and having a great time. She loved traveling and loved life. Gayle is survived by her husband, John J., of Ahwatukee; her children, Kimberly Hadden Massie, Robin Hadden, Christopher Hadden, all of Arizona, John Hadden of Hardwick, N.J.; eight grandchildren; and two brothers, Harold and Alan Buff. Friends may visit with the family at the Vander May Wayne Colonial Funeral Home, 567 Ratzer Road, Wayne, N.J., on Sunday, June 2 from 2 to 6 p.m.
Selling your first home in a buyers’ market? You can get the best possible price if you know how to negotiate.
It’s no secret to Realtors that fabulous kitchens sell homes. Improve the room used primarily for food preparation, and the entire house will feel homier to residents, guests and prospective buyers alike.
I’m sure by now you’ve heard that we have a short supply of homes to sell. As I have been saying, this shortage is pushing up the price of homes that do go onto the market.
The value of home sales in Western states rose over the last year even as the number of transactions slipped, according to an official with the National Association of Realtors.
The real estate market is improving dramatically according to real estate professionals, and those looking to get involved in the market can learn all about their options at the Arizona Homebuyers Expo this Saturday, April 13.
Selling any home can be challenging, depending on the market. But if you have an old home and want to appeal to buyers in their 20s and early 30s, you may need to take some extra steps.
When speaking about business success it doesn’t come from one individual.