Dear Neighbors,

Here is your Bellasera Market Update for SEPTEMBER 2015:

FOR SALE

10

- Average Asking Price

$618,380

- Average Square Feet

2,565

- Average Asking Price per Sq. Foot

$246

- Average Days on Market

152

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$717,000

- Average Square Feet

2,862

- Average Asking Price per Sq. Foot

$250

- Average Days on Market

115

- SHORT SALES – LENDER OWNED

0

 

 

SOLD*

13

- Average Sales Price

$602,731

- Sales Price to List Price

97%

- Average Square Feet

2,443

- Average Sales Price per Sq. Foot

$249

- Average Days on Market

60

- Lowest Sale Price

$373,000

- Highest Sale Price

$873,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING (none), and SOLD byFLOORPLAN.

The number of homes currently for sale in the Valley are:  19,142 - compared to AUGUST of 19,351.

There are 9,664 homes currently under contract compared to AUGUST of 10,269.

7,249 homes sold in JULY in the Valley compared to AUGUST of  7,972.

THE MARKET:

From ARMLS STAT REPORT for AUGUST:

Our housing market continues to show slow and steady improvement. On a year-over-year basis distressed inventories are down, foreclosures are down, traditional buyers are up, purchase money mort-gages are up and new construction is up. Each and every one of these metrics continues to improve. Sales were up 16.8% year-over-year for example.

 

Some readers may groan that the month-over-month sales volume was 8.8% lower in July 2015 than in June 2015, but this decline is best explained by seasonal factors. First, our sales volume historically peaks in June and then declines each successive month through November. Secondly, June contained an additional business day.

 

It is not uncommon for the median price to fall from July to August. This has occurred seven times over the 14 years ARMLS has been tracking median home prices. Our last PPI projected a July median price of $213,000 with the actual median coming in at $212,000. That’s an error rate of less than 0.5%. Looking ahead to August, the ARMLS Pending Price Index projects a median sales price of $210,000.

 

We begin August with 6,341 pending listings and 3,385 UCB listings giving us a total of 9,726 residential listings under contract. This compares to 10,761 listings under contract at the beginning of July. The August 2015 sales volume will undoubtedly exceed August 2014 (6,428), but should be lower than the 7,914 total in July 2015. STAT is projecting 7,200 home sales in August.

Charts below are through “AUGUST” 2015

9-2015-1

  +16.8% year-over-year                -8.8% month-over-month

9-2015-2

  MSI JUNE 2015 – 2.69                               

9-2015-3

9-2015-4

Year-over-year average - +5.6%      Year-over-year median - +7.6%

CHART COMPARISON: BELLASERA – TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

10

$246

      2

   $250

  13

$249

                  0

Terravita (1,380 homes)

15

$251

       2

     $237

  77

$240

                  0

Winfield (511 homes)

 

  (*Custom Homes)

17

$235

    *4 - $339

        3

      $213

  19

$214

    *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/2/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

      196

 

PENDING

 

 

24

 

TOTAL SOLD 2015

 

 

242

SOLD

SHORT SALE-

LENDER OWNED

 

7

 

 

Average Price Per Sq. Ft.

 

 

$264

      

 

    $261

 

 

$230

 

 

$175

    *All Averages Includes

            Custom Homes

 

 

        *SEE ATTACHED          

      STATISTICS REPORT

 

 

 

 

 

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

 

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,
Here is your Bellasera Market Update for AUGUST 2015:

FOR SALE 8
- Average Asking Price $590,838
- Average Square Feet 2,352
- Average Asking Price per Sq. Foot $253
- Average Days on Market 139
- SHORT SALES – LENDER OWNED 0
PENDING 2
- Average Asking Price $717,000
- Average Square Feet 2,862
- Average Asking Price per Sq. Foot $250
- Average Days on Market 115
- SHORT SALES – LENDER OWNED 0
SOLD* 12
- Average Sales Price $615,458
- Sales Price to List Price 97%
- Average Square Feet 2,493
- Average Sales Price per Sq. Foot $249
- Average Days on Market 65
- Lowest Sale Price $373,000
- Highest Sale Price $873,000
- SHORT SALES – LENDER OWNED 0

 The attached spreadsheets shows the homes that are FOR SALE, PENDING (none), and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  19,351 - compared to JUNE of 20,460.

There are 10,269 homes currently under contract compared to JUNE of 11,761.

7,972 homes sold in JULY in the Valley compared to JUNE of  8,674.

THE MARKET: 

From ARMLS STAT REPORT for JULY:

In each of the last three months, there has been one metric that jumps off the spreadsheet! In  April it was lower than expected new builds, May saw a 4.1% increase in the median sales price and this month we saw the highest monthly sales volume in the last two years. Total MLS sales volume in June landed at 8,674. The last me sales volume was higher was in May 2013 when 9,436 home sales closed. Even though the sales total was aided with 22 business days, sales volume in June was still impressive.

“Supply lightens, demand holds steady” might not be the most glamorous headline but it perfectly describes the first 6 months of 2015 as our inventory numbers have declined every single month. STAT is currently reporting only 19,596 Active (excluding UCB) listings, down 20% from last year at this me. We currently have only 2.69 months of inventory. The low number of homes available for purchase, particularly listings below the $200,000 price level, has lead to a significant increase in the median home price this year.

The median sales price ended 2014 at $197,000 and our current median sales price is $214,900. The median sales price in June was 9% higher than in December 2014. The current
pricing pressures for entry level buyers caused by low inventory numbers are now appearing in newspaper articles as well as Facebook discussions. Three articles in the last week have used the phrases “multiple offers,” “bidding wars,” “below $200,000” and “tight supply”. The general public is now becoming aware of what industry insiders have known for months.

Tina Tamboer Glatfelter from The Cromford Report says it well: “The imbalance is not caused by too much demand ironically as we have a normal level of demand. It's caused by too little supply, which is primarily driven by sellers who do not have enough incentive to sell and the fact that builders have not been building entry-level single family homes since the crash. Instead, they have focused their resources on move-up and pre-luxury homes in price ranges and areas that do not lack for inventory.”

Charts below are through “JULY” 2015:

july2015-1
 
  +20.2% year-over-year                          +4.3% month-over-month

july2015-2
 
  MSI MAY 2015 – 2.96                                       MSI JUNE 2015 – 2.69

july2015-3

 

july2015-4
 
 
Year-over-year average - +5.8%      Year-over-year median - +10.2%

CHART COMPARISON: BELLASERA – TERRAVITA – WINFIELD 

FOR SALE /
AVG. SQ FT
PENDING/
AVG. SQ. FT
TOTAL SOLD 2015 /
AVG. SQ. FT.
SOLD-SHORT SALE-LENDER OWNED
Bellasera (360 homes) 8
$253
      2
   $250
  12
$249
0
Terravita (1,380 homes) 15
$249
4
          $240
  73
$240
0
Winfield (511 homes)

  (*Custom Homes)
12
$232
    *5 - $339
3
$213
  16
$215
    *0
0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 8/10/15).

Below is a chart that just includes the Zip Code of 85266:

85266 Zip Code FOR SALE


          184
PENDING


29
TOTAL SOLD 2015


225
SOLD
SHORT SALE-
LENDER OWNED

7
Average Price Per Sq. Ft. $266 $243 $232 $175
*All Averages Includes
            Custom Homes
*SEE ATTACHED STATISTICS REPORT
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Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market Update for MAY 2015:

FOR SALE

10

- Average Asking Price

$680,080

- Average Square Feet

2780

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

87

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$462,000

- Average Square Feet

1,766

- Average Asking Price per Sq. Foot

$261

- Average Days on Market

47

- SHORT SALES – LENDER OWNED

0

SOLD*

10

- Average Sales Price

$605,750

- Sales Price to List Price

97%

- Average Square Feet

2,484

- Average Sales Price per Sq. Foot

$246

- Average Days on Market

75

- Lowest Sale Price

$373,000

- Highest Sale Price

$873,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  21,548 - compared to MARCH of 23,522.

There are 12,932 homes currently under contract compared to MARCH of 10,604.

8,396 homes sold in APRIL in the Valley compared to MARCH of  7,890.

***We have clients looking for an OURO (1,707 sq. ft.) and an OURO w/Casita (2,110 sq. ft.)  Please give us call if you are interested in selling your home.

THE MARKET:

From ARMLS STAT REPORT for APRIL:

Our STAT report showed weak sales volume in January, but as the first quarter progressed our market demonstrated the axiom, demand can quickly change.

Sales volume for the first quarter of 2015 was 10.5% higher than last year. There were 18,674 homes sold in Q1 2015 compared to 16,983 last year. It should be noted that the sales volume last year set a very low standard and was often times described as anemic. The gains in sales volume for the first quarter took place in February and March after a modest decline in January.

Sales figures in February 2015 were up 9.4% year-over-year and sales volume in March 2015 was up 17.7% year-over-year. Last year at this time we had theorized demand was 20% to 25% below normal. The increase in volume this past month makes the argument that sales volumes are approaching their customary levels.

When we take a closer look inside the March 2015 numbers we see investor activity fell to 12.1% of sales compared to 16.25% a year ago. Pair that with foreclosure inventories in Maricopa County (REO & Active Notices) being down 24.2% year-over-year, it’s now undeniable: the traditional home buyer is the driving force in our housing market.

New construction gained 8% higher year-over-year in March. New construction numbers are still paltry but are improving. As an indicator of what might be expected in the coming months on the new construction front, the RL Brown Housing Reports home page stated: “New Home permits for March are up more than 50% from the same month last year and up +40% from last month.”

With demand approaching normal levels, supply is still well below normal. Total supply is 11.5% lower than last year at this time. If we look at active listings and exclude those in UCB, we see inventory has fallen 15.5% year-over-year. This is encouraging news for sellers because if the current pattern of in-creased demand continues, upward pricing pressure can be expected.

We began April 2015 with 11,997 residential listings under contract compared to 10,817 for the same period last year. April 2015 sales volume will undoubtedly exceed April 2014 (7,659). We expect sales this month to land in the 8,500 range. Our estimated sales volume last month of 7,500 was 5.3% below the actual sales figure of 7,900.

Charts below are through “APRIL” 2015:

1maj

+17.7% year-over-year                                      +31.9% month-over-month

2maj

  MSI FEB 2015 - 4.56                                                                     MSI MAR 2015 - 3.35

3maj

4maj

Year-over-year average - +3.1%                                   Year-over-year median - +7.0%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

10

$249

      2

  $261

  10

$246

                  0

Terravita (1,380 homes)

27

$240

             19

          $246

47

$242

                  0

Winfield (511 homes)

 

  (*Custom Homes)

18

$232

    *6 - $339

               5

          $214

  9

$209

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 5/8/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          263

 

PENDING

 

 

58

 

TOTAL SOLD 2015

 

 

127

SOLD

SHORT SALE-

LENDER OWNED

 

3

 

 

Average Price Per Sq. Ft.

 

 

$280

      

 

    $230

 

 

$239

 

 

$198

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,

Here is your Bellasera Market Update for MARCH 2015:

FOR SALE

14

- Average Asking Price

$632,086

- Average Square Feet

2,614

- Average Asking Price per Sq. Foot

$243

- Average Days on Market

78

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$594,667

- Average Square Feet

2,244

- Average Asking Price per Sq. Foot

$267

- Average Days on Market

50

- SHORT SALES – LENDER OWNED

0

SOLD*

1

- Average Sales Price

$832,500

- Sales Price to List Price

97%

- Average Square Feet

3,346

- Average Sales Price per Sq. Foot

$249

- Average Days on Market

74

- Lowest Sale Price

$832,500

- Highest Sale Price

$832,500

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  23,522 - compared to FEBRUARY of 22,960.

There are 10,604 homes currently under contract compared to FEBRUARY of 8,866.

5,982 homes sold in FEBRUARY in the Valley compared to JANUARY of  4,784.

THE MARKET:

From ARMLS STAT REPORT for January - From time to time there will be a set of numbers within STAT that just jumps at you.  This month it was the dichotomy of list prices and sale prices.

Over the past year, we’ve repeatedly discussed the remarkable stability in our home prices. When we removed all the distressed sales and compared only the normal sales between December 2013 and December 2014, we saw the price per-square-foot rose only slightly, 1.7% from $133.10 to $135.41.

When we compared January 2015 prices to December 2014 prices we saw a 1.2% decline in the median sales price and a 0.6% decline in the average sale price. As we continually state, these monthly anomalies are in no way an indication of declining prices, but only reiterate the remarkable price stability in our market. However, they do amplify the growing disparity between the price of properties listed for sale and the price at which properties are selling.

Why is the average list price so much higher than the average sales price? If the property being marketed is listed too far above market expectations, reality will manifest in the lack of showings and/or offers leading to a price change.

In reality, our market continues in a leisurely fashion highlighted by low demand and low supply.

Charts below are through “JANUARY” 2015:

  -0.3% year-over-year                                                -26.3% month-over-month

 

march2

MSI DEC 2014 - 3.84                                                                      MSI JAN 2015 - 5.67

feb3

march4

 +5.1%, year-over-year average                                +6.7%, year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

14

$243

      3

  $267

  1

$249

                  0

Terravita (1,380 homes)

30

$247

             13

          $245

23

$238

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$224

    *5 - $342

               3

          $207

  4

$218

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 3/1/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          253

 

PENDING

 

 

44

 

TOTAL SOLD 2015

 

 

49

SOLD

SHORT SALE-

LENDER OWNED

 

2

 

 

Average Price Per Sq. Ft.

 

 

$281

      

 

    $235

 

 

$236

 

 

$152

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market   Updates)

NATIONAL HOUSING REPORT: Home Sales Start at Slower Pace: Like last year, 2015 home sales are starting the year at a slower pace. January home sales were 3.9 percent lower than sales in January 2014, according to the January RE/MAX National Housing Report. Last year, sales improved dramatically during the spring and ...Read more ...

For Your Client: How to Get Your House Ready for the Market 
First impressions are everything when it comes to selling a home. “Most people make up their mind whether or not they like a house within mere minutes ...Read more ...

AZcentral.com, January 13, 2014 – Experts: 2015 Should be Better Than 2014 for Housing: Metro Phoenix’s housing market ended 2014 on a low note with both home sales and prices down.  Read more ...

Realty Magazine - Credit Scores Explained Lenders want to give you a mortgage, but they also want to minimize their own risk. The easiest way to retard risk is by using your credit scores to make lending decisions.Read more ...

Realty Times - Raise Your Home's Value Instantly:  Your real estate professional is advising you to declutter, stage your home, plant new flowers, and make repairs and updates. You may be reluctant because of the costs, but according to HomeGain, your real estate agent is giving you sound investment advice that can actually make you more money when you sell your home
Read more ...

Blinklist!Blogmarks!BlinkBits!Ask!

ere is your Bellasera Market Update for FEBRUARY 2015:

FOR SALE

10

- Average Asking Price

$652,370

- Average Square Feet

2,773

- Average Asking Price per Sq. Foot

$238

- Average Days on Market

88

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$862,450

- Average Square Feet

3,346

- Average Asking Price per Sq. Foot

$258

- Average Days on Market

38

- SHORT SALES – LENDER OWNED

0

SOLD*

0

- Average Sales Price

0

- Sales Price to List Price

0

- Average Square Feet

0

- Average Sales Price per Sq. Foot

0

- Average Days on Market

0

- Lowest Sale Price

0

- Highest Sale Price

0

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  23,960 - compared to JANUARY of 22,855.

There are 8,866 homes currently under contract compared to JANUARY of 6,878.

4,784 homes sold in JANUARY in the Valley compared to DECEMBER of  6,467.

THE MARKET:

From ARMLS STAT REPORT:  In the last 7 months of 2014, all but two of those months reported the lowest number of new listings in the 14 years ARMLS has been tracking new inventory. The final numbers for 2014 show only 107,902 new listings. In spite of the low sales volume in 2014, we begin 2015 with 1.7% fewer homes listed for sale than last year at this time.

Even though inventory numbers are very similar to where they were last year at this time, we have a little more wind in our sails. Put simply, our market is healthier. The price increases we’ve seen in the last 18 months are characteristic of a normal sustainable market, interest rates are at historical lows (3.86% Dec. 2014), the millennials are one year older, births are increasing, gas prices are low ($2.04 national average),boomerang buyers have had one more year to repair their credit and conventional buyers are making up a larger percentage of home purchases.

Charts below are through “DECEMBER” 2014:

feb1

 

  +8.8%, year-over-year         +30.2%, month-over-month

 

feb2

 
 

MSI NOV 2014 – 5.50                             MSI DEC 2014 – 3.84

 

feb3

 
 

feb4

 
 

  +4.4%, year-over-year average               +6.5%, year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

10

$238

      2

  $258

  0

$0

                  0

Terravita (1,380 homes)

33

$247

             15

          $240

12

$236

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$224

    *3 - $354

               2

          $222

  2

$206

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/1/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          211

 

PENDING

 

 

30

 

TOTAL SOLD 2015

 

 

0

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$284

      

 

    $223

 

 

$0

 

 

$0

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market   Updates)

Phoenix Business Journal: Housing ended 2014 on slow note, Phoenix home starts down 15 percent RL Brown Housing Reports finds 2014 ended with new and existing home sales down from 2013. Read more ...

Yahoo! Finance:  Better U.S. housing market makes it easier to trade up -  Read more ...

azcentral.com:  Phoenix home prices up, but sales fall in November -Read more ...

NAHB.org:   A More Robust Year for Housing in 2015 - A strengthening labor market, low interest rates, improving mortgage availability and growing pent-up demand will help to significantly boost single-family housing production in the year  ahead.  Read more ...

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 
Blinklist!Blogmarks!BlinkBits!Ask!

 

 

Dear Neighbors,

Here is your Bellasera Market Update for JANUARY 2015:

FOR SALE

5

- Average Asking Price

$643,280

- Average Square Feet

2,771

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

134

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$405,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$219

- Average Days on Market

13

- SHORT SALES – LENDER OWNED

1

SOLD*

0

- Average Sales Price

0

- Sales Price to List Price

0

- Average Square Feet

0

- Average Sales Price per Sq. Foot

0

- Average Days on Market

0

- Lowest Sale Price

0

- Highest Sale Price

0

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  22,855 - compared to DECEMBER of 24,815.

There are 6,878 homes currently under contract compared to DECEMBER of 8,345.

6,467 homes sold in DECEMBER in the Valley compared to NOVEMBER of  4,941.

THE MARKET:

There are many predictions for 2015 – most of them positive.  Some economists are predicting homes sales in 2015 to exceed 2014.  One reason 2015 will beat 2014 is that 2014 was not a great year when it came to home sales in Maricopa County.  The market is stable, but slow for showings and homes going under contract.  Predictions are that home prices in 2015 will increase 3%-3.5%.

Charts below are through November 2014:

image004

   -4.2% year-over-year       -18.9% month-over-month

image005

 

image010

image016

  +6.2% year-over-year average         +4.8% year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 5

$234

    1

  $219

  0

$0

                  0

Terravita (1,380 homes)

30

$243

             14

          $251

0

$0

                  0

Winfield (511 homes)

(*Custom Homes)

21

$221

    *2 - $330

              1

         $221

0

$0

         *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/2/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          211

 

PENDING

 

 

30

 

TOTAL SOLD 2015

 

 

0

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$284

      

 

    $223

 

 

$0

 

 

$0

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market   Updates)

Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain - Existing-home sales are expected to be higher next year and prices will remain at a healthier level of growth…Read more ...

5 Housing Market Predictions for 2015 - A new year is about to dawn—and the outlook on the housing market is definitely brighter.  Read more ...

Phoenix homes among most overvalued in the country - A report from Fitch Ratings says metro Phoenix houses are more overvalued than those in Los Angeles or San Francisco.  Read more ...

The world may not be flat, but Phoenix's housing market is - The latest report from ASU real-estate guru Michael Orr notes demand remains sluggish in the Valley's home market.  Read more ...

Real Estate in 2015 - What to Expect: (Information compiled from U.S. News & World Report, PRNewswire,Washington Post)

  • Millennials will account for the largest number of first time home buyer sales
  • Baby boomers are also likely to make a move in 2015 to downsize or move closer to family members
  • Available inventory will be on the rise
  • New 3 percent down payment programs by Fannie Mae and Freddie Mac should put purchasing a house within the reach of more buyers
  • Existing home sales will likely increase by 8%
  • Home prices will likely go up 4%-5%
  • Mortgage rates will likely be at 5%
  • Home affordability may decrease by 5-10% (due to increased mortgage rates and home prices)

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

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Dear Neighbors,

Here is your Bellasera Market Update for DECEMBER 2014

FOR SALE

3

- Average Asking Price

$729,600

- Average Square Feet

3,110

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

86

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$405,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$219

- Average Days on Market

13

- SHORT SALES – LENDER OWNED

1

SOLD*

19

- Average Sales Price

$638,363

- Sales Price to List Price

96%

- Average Square Feet

2,752

- Average Sales Price per Sq. Foot

$231

- Average Days on Market

79

- Lowest Sale Price

$360,000

- Highest Sale Price

$885,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  24,815 - compared to NOVEMBER of 25,138.

There are 8,3455 homes currently under contract compared to NOVEMBER of 8,335.

4,941 homes sold in NOVEMBER in the Valley compared to OCTOBER of  6,235.

THE MARKET:

Bellasera still has unusually LOW inventory with just 3 homes for sale.  Now would be a good time to have your home on the market. 

July 2013 marked the end of a two year period of rapid price appreciation and heavy investor demand as the market bounced off its 2011 bottom. The market is still much the same and while our volume numbers are better year-over-year, demand is still extremely low.

image003

+1.9% year-over-year         -1.6% month-over-month

 

image004

 

image014

image016

+2.5%, year-over-year average        +4.1%, year-over-year median

 

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 3

$234

    1

  $219

19

$231

                  0

Terravita (1,380 homes)

34

$245

              7

          $248

61

$243

                  0

Winfield (511 homes)

(*Custom Homes)

17

$225

    *2 - $342

              3

         $235 

24

$221

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 11/30/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          205

 

PENDING

 

 

33

 

TOTAL SOLD 2014

 

 

258

SOLD

SHORT SALE-

LENDER OWNED

 

9

 

 

Average Price Per Sq. Ft.

 

 

$282

      

 

    $241

 

 

$225

 

 

$171

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

AZ: Houses sold by agents fetch higher prices, study shows - Hire a real-estate agent? List the property ourselves? Some homeowners who are ready to sell debate the issue. Read more ...

Loan Demand Slips After Recent Spike - With holidays approaching, even a drop in mortgage rates couldn’t keep loan demand up in the latest week. Read more ...

Phoenix:  Average price-per-square-foot up 7% from a year ago - Data released last week from ASU's W.P. Carey School of Business shows the Valley's median home-sales price dipped to $209,900 after hitting a 2014 high of $213,500 in August. Read more ...

 

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Bellasera Market Update

 

Dear Neighbors,

Here is your Bellasera Market Update for OCTOBER 2014

FOR SALE

5

- Average Asking Price

$700,580

- Average Square Feet

3,069

- Average Asking Price per Sq. Foot

$228

- Average Days on Market

83

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$513,700

- Average Square Feet

2,120

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

73

- SHORT SALES – LENDER OWNED

1

SOLD*

15

- Average Sales Price

$667,760

- Sales Price to List Price

96%

- Average Square Feet

2,903

- Average Sales Price per Sq. Foot

$229

- Average Days on Market

75

- Lowest Sale Price

$415,000

- Highest Sale Price

$885,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  24,082 - compared to AUGUST of 23,791.

There are 8,568 homes currently under contract compared to AUGUST of 9,447.

7,140 homes sold in SEPTEMBER in the Valley compared to JULY of  6,775.

THE MARKET:

The market has stalled as far as pricing.  The numbers continue to reflect a normal seasonal pattern - with Fall here, more homes are coming on the market.  We have about a 4 month supply of homes.  “An uncertain period of waiting for a decision or resolution.” That’s the definition of the word limbo and it perfectly describes our current market where low demand and a lack of new inventory have balanced the market into a standstill.

 

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jimage012

jimage013

jimage015

 

CHART COMPARISON: BELLASERA – TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 5

$228

    5

  $240

15

$229

                  0

Terravita (1,380 homes)

22

$249

              4

          $237

57

$237

                  0

Winfield (511 homes)

(*Custom Homes)

16

$228

   

              3

         $232 

21

$212

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 10/7/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          174

 

PENDING

 

 

28

 

TOTAL SOLD 2014

 

 

223

SOLD

SHORT SALE-

LENDER OWNED

For 2014

6

 

 

Average Price Per Sq. Ft.

 

 

$275

      

 

    $216

 

 

$227

 

 

$178

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

HOUSINGwire.com, September 24, 2014 - New Single-Family Home Sales See Biggest Jump in 22 Years.  August increase to six-year high comes off disappointing July. Read more ...

REDfin.com, September 24, 2014 - Newly Listed Homes Fall a Unexpected 9.3% in August.  Prices continue to soften despite lower supply and strong buyer demand. Read more ...

AZcentral.com, August 25, 2014 - Ariz. Homebuying Slide Forces Builders to Deal.  New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales that has builders worried. Read more ...

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

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Dear Neighbors,

Here is your Bellasera Market Update for JUNE 2014

FOR SALE

4

- Average Asking Price

$489,475

- Average Square Feet

1,997

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

85

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$723,267

- Average Square Feet

3,115

- Average Asking Price per Sq. Foot

$230

- Average Days on Market

96

- SHORT SALES – LENDER OWNED

0

SOLD*

11

- Average Sales Price

$645,682

- Sales Price to List Price

96%

- Average Square Feet

2,805

- Average Sales Price per Sq. Foot

$229

- Average Days on Market

73

- Lowest Sale Price

$415,000

- Highest Sale Price

$865,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  25,280 - compared to MAY of 26,119 .

There are 10,629 homes currently under contract compared to MAY of 11,388 .

7,511 homes sold last month in the Valley compared to MAY of  7,674.

THE MARKET:

The temps are going up and so has the housing market in the last 2 months. Buyer demand has picked up and closings reflect that with April and May the highest of the year so far.

What is a normal market?  It has been so long, we hardly recognize it, but we now have a normal supply and demand market, and normal seasonal buying patterns.  The last normal market was in 2003, that is why it feels so strange.  We have about a 3 1/4 month supply of homes in the Valley.

 

CHART COMPARISON: BELLASERA  TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 4

$249

    3

  $230

11

$229

                  0

Terravita (1,380 homes)

25

$250

              9

          $221

36

$243

                  0

Winfield (511 homes)

(*Custom Homes)

15

$222

    *3 - $354

              5

         $218

 

12

$219

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 6/5/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          196

 

PENDING

 

 

37

 

TOTAL SOLD 2014

 

 

132

SOLD

SHORT SALE-

LENDER OWNED

For 2014

5

 

 

Average Price Per Sq. Ft.

 

 

$267

      

 

    $218

 

 

$233

 

 

$184

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

Home Sellers: What a Great Agent Can Do For You

You already know the smart way to sell your home is through a real estate professional, but you may not realize how much your agent really does for you.  Read more ...

 

The Five Biggest Turn-Offs For Homebuyers

A lot of sellers don't listen to their real estate agents, so we'll tell you what your agent wants to say, but can't say to you and this is it - your agent can't get you the price you want unless your home is in pristine move-in condition.  Read more ...

 

Neutral To Sell Your Home, But Color To Live In It

When it comes to home décor and interior design, there is one thing that pretty much everyone agrees on: you should keep it neutral.  Read more ...

 

Forecast Calls for Phoenix Home Prices to Rise by 3.6 Percent

A new survey from Zillow.com is projecting that metro Phoenix home prices will rise 3.6 percent by April 2015.  Read more ...

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

Blinklist!Blogmarks!BlinkBits!Ask!

Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market update for MAY 2014

FOR SALE

7

- Average Asking Price

$528,229

- Average Square Feet

2,335

- Average Asking Price per Sq. Foot

$232

- Average Days on Market

88

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$775,480

- Average Square Feet

3,223

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

81

- SHORT SALES – LENDER OWNED

0

SOLD*

8

- Average Sales Price

$620,688

- Sales Price to List Price

96%

- Average Square Feet

2,653

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

67

- Lowest Sale Price

$415,000

- Highest Sale Price

$865,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  26,119 - compared to APRIL of 26,923.

There are 11,388 homes currently under contract compared to APRIL of 11,251 .

7,674 homes sold last month in the Valley compared to APRIL of  5,829.

THE MARKET:

CHART COMPARISON: BELLASERA TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$232

    5

  $240

8

$232

                  0

Terravita (1,380 homes)

33

$245

             11

          $242

27

$245

                  0

Winfield (511 homes)

(*Custom Homes)

17

$225

    *5 - $327

              3

         $230

 

10

$214

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 5/7/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          2251

 

PENDING

 

 

41

 

TOTAL SOLD 2014

 

 

63

SOLD

SHORT SALE-

LENDER OWNED

For 2014

2

 

 

Average Price Per Sq. Ft.

 

 

$268

      

 

    $256

 

 

$231

 

 

$199

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

Why the Phoenix housing market has swung in favor of buyers

A year ago, the Phoenix-area housing market was facing a chronic shortage of homes for sale and surging prices exasperated would-be buyers.  Read more ...

 

Case-Shiller: 2 factors needed to keep home prices strong

"Going forward, if home prices continue to rise, there are a limited number of options to offset the rising cost of purchasing a home," Lindsey Piegza, chief economist with Sterne Agee, said.  Read more ...

SEEKINGalpha.com, April 23, 2014 – March Existing Home Sales Data Show Further Deterioration In The Housing Market

Existing home sales for March were released today by the National Association of Realtors. The report showed a small sequential decline from February. Read more ...

Americans Ready to Spend on Real Estate Again
Americans' outlook on the economy is improving and they're ready to make more purchases, especially regarding real estate, according to the latest PulteGroup Home Index Survey.               Read more ...

Cash home-buyers leaving the Phoenix market - Phoenix Business Journal                                         With all the bewilderment surrounding the housing market’s cool-off, one thing is abundantly clear: Cash buyers are losing their enthusiasm for the Phoenix area.
Read article

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