Bellasera Market Update


Dear Neighbors,

Here is your Bellasera Market update for NOVEMBER, 2010

FOR SALE
11
- Average Asking Price
$558,127
- Average Square Feet
2,633
- Average Asking Price per Sq. Foot
$209.34
- Average Days on Market
209
- SHORT SALES – LENDER OWNED
4

PENDING
3

- Average Asking Price
$521,167
- Average Square Feet
2,631

- Average Asking Price per Sq. Foot
$196.69
- Average Days on Market
85
- SHORT SALES – LENDER OWNED
0


SOLD*
15
- Average Sales Price
$546,213
- Sales Price to List Price
94%
- Average Square Feet
2,811
- Average Sales Price per Sq. Foot
$184.61
- Average Days on Market
139
- Lowest Sale Price
$340,000
- Highest Sale Price
$732,000
- SHORT SALES – LENDER OWNED
4

*There are 3 sales that are NOT shown in the MLS, which are listed on a separate SOLD spreadsheet attached.

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

CHART COMPARISON: BELLASERA, TERRAVITA, WINFIELD



FOR SALE /
AVG. SQ FT
PENDING/
AVG. SQ. FT
SOLD 2010 /
AVG. SQ. FT.
SOLD-SHORT SALE-LENDER OWNED
Bellasera (360 homes)
11 /$209.34
3
15 / $184.61
(3 not in MLS = 18)
4

Terravita (1,380 homes)
56 /$217.90
3
61 / $204.61
9
Winfield (511 homes)
22 /197.74
1
22 / $182.31
5

(Data from the Arizona Regional MLS (FLEXMLS) and subject to change – Information as of 11/2/10).

Overall Market:

There is a general upward trend since September and it appears that pricing has stabilized after some steep falls in the 3rd Quarter.

Even with the number of homes for sale, it is difficult to find a home that is in good condition and a good location.  Homes that are priced well and show well are going under contract.

Per “Fitch Ratings”, there is a “Shadow Inventory” of homes that will come on the market from delinquent loans, short sales, and foreclosures. All of it, Fitch said, simply prolonged the housing correction underway and will bring about further house price declines and losses on residential mortgage-backed securities.” (see article below)

The number of homes currently for sale in the Valley are:  39,358 – with the “Season” beginning (October to May), more homes are coming on the market.

Below is a chart that just includes the Zip Code of 85266 (see attached map)



85266 Zip Code



FOR SALE

267


PENDING

40


SOLD 2010

295
SOLD
SHORT SALE-
LENDER OWNED

117
Average Price Per Sq. Ft.

$240.94
$180.52

$187.83
$155.98





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