Dear Neighbors,

Here is your Bellasera Market update for SEPTEMBER, 2012. 

FOR SALE

5

- Average Asking Price

$545,000

- Average Square Feet

2,588

- Average Asking Price per Sq. Foot

$211.70

- Average Days on Market

78

- SHORT SALES – LENDER OWNED

0

PENDING

4

- Average Asking Price

$569,250

- Average Square Feet

2,787

- Average Asking Price per Sq. Foot

$204.93

- Average Days on Market

54

- SHORT SALES – LENDER OWNED

1

SOLD*

17

- Average Sales Price

$537,982

- Sales Price to List Price

97%

- Average Square Feet

2,643

- Average Sales Price per Sq. Foot

$200.95

- Average Days on Market

83

- Lowest Sale Price

$318,000

- Highest Sale Price

$759,500

- SHORT SALES – LENDER OWNED

2

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN as well as CMA Maps for each. 

The number of homes currently for sale in the Valley are:  14,439 - compared to July of 13,564. 

The number of homes sold in the Valley for August are 7,539 compared to July of 7,431 – trend is up even when it’s hot!

CHART COMPARISON: BELLASERA, TERRAVITA, WINFIELD

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2012 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

5

$211.70

4

$204.93

17

$200.95

2

Terravita (1,380 homes)

19

$201.67

6

$201.97

68

$196.04

6

Winfield (511 homes)

(*Includes Custom Homes)

9

$220.56

(4- $323.33*)

4

$214.59

17

$186.52

(1 Custom-$266.30)

1

(Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/1/12).

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

85266 Zip Code

FOR SALE

117

PENDING

50

TOTAL SOLD 2012

263

SOLD

SHORT SALE-

LENDER OWNED

50

Average Price Per Sq. Ft.

$234.18

$197.27

$184.00

$148.02

If you are considering selling your home, please contact us for a “Market Analysis” OR if you know someone who is looking to buy a home, please give them our name. We have sold 10 homes in Bellasera so far this year and have 1 home under contract!

We have two new listings coming on the market:

30914 N. 74th Way – Platina w/Expanded Master

7452 N. Pontebella Drive – Sapphira w/Casita-Pool - $730,000

Market Summary

See attached reports:

**GREAT INFORMATION** ARMLS STAT REPORT – August 6, 2012 (from the MLS)

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

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

MarketWatch, August 29 - Pending home sales hit more than 2-year peak
Pending home sales climbed 2.4% in July to the highest level since April 2010, when a home-buyer tax credit was set to expire. The National Association of Realtors said Wednesday its pending-home-sales index rose to 101.7 in July from 99.3 in June, which is 12.4% above July 2011 levels.
Read More ...

HousingWire, August 28 - CoreLogic: Foreclosures decline 16% in July
The number of foreclosures completed in July totaled 58,000, down 16% from 69,000 a year earlier and 62,000 in June, according to analytics firm CoreLogic.
Read More ...

Seeking Alpha, August 28 - Housing Market: 3 Charts That Show Improvement Continued In August
Back in July, the National Association of Homebuilders reported that the Housing Market Index increased dramatically to a reading of 35. Analysts had expected the index to rise to 30 after reading 29 in the previous month.
Read More...

Buyers Worried They're Losing Bargaining Power - Realtor Magazine
While home buyers have been holding a lot of bargaining power in the housing market the last few years, more of them say they are now feeling the market shift against them, according to a new survey.  Seven in 10 home buyers say they've faced competition on a home for at least one offer, according to a recent survey of 982 buyers in 19 markets conducted by Redfin.
Read More...

Is Case-Shiller compiled too slowly to catch the turn? - USAToday
The Standard & Poor's Case-Shiller index for home sales that closed in June showed a 0.5% rise from this time last year and a seasonally adjusted gain of 2.3% from May.  But data compiled by real estate sites such as Trulia.com suggest asking prices are now rising faster.  Are higher asking prices unrealistic, or is Case-Shiller compiled too slowly to catch the turn?  And do higher asking prices signal an approaching return to mid-single-digit annual appreciation?
Read More...

Return of the Jumbo Mortgage -  Wall St. Journal
Private-market "jumbo" mortgages are making a much faster comeback.  In all, lenders doled out $38 billion in private jumbo mortgages during the second quarter of 2012 - up 65% from a year earlier.  "This is a real positive for the entire marketplace, and hopefully this is the first sign that credit markets will open up," says Jack McCabe, an independent housing analyst.
Read More ...

The Bottom of the Housing Market in the Rear View Mirror

Greater Phoenix Blue Chip

June 2012

Read More...

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