Dear Neighbors,

We lost a dear friend, Bellasera neighbor and fellow Realtor last week – Ken Walker.  We will miss him terribly and our prayers with Julie Ann and family.

Here is your Bellasera Market update for MARCH 2013.

FOR SALE

9

- Average Asking Price

$604,744

- Average Square Feet

2,783

- Average Asking Price per Sq. Foot

$219.11

- Average Days on Market

72

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

4

- Average Asking Price

$492,125

- Average Square Feet

2,179

- Average Asking Price per Sq. Foot

$227.03

- Average Days on Market

26

- SHORT SALES – LENDER OWNED

0

SOLD*

2

- Average Sales Price

$607,500

- Sales Price to List Price

97%

- Average Square Feet

2,856

- Average Sales Price per Sq. Foot

$211.61

- Average Days on Market

152

- Lowest Sale Price

$515,000

- Highest Sale Price

$700,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLDby FLOORPLAN as well as CMA Maps for each.                                       

We have Buyers looking for homes in Bellasera.  With the low inventory of homes for sale, it is difficult for Buyers to find a home – which is great for Sellers.

The gap between list price to sales price is getting smaller – the average is 3%.  Additionally, Valley homes spent a median 25 days on the market last year, a 42 percent drop from 43 days in 2011.  The Valley is one of the best markets to sell a home right now and ranks as the 11th-best spots in the nation.

The number of homes currently for sale in the Valley are:  17,180 - compared to January of 17,180. 

There are 15,210 homes currently under contract compared to January of 11,923.

6,644 homes closed last month in the Valley compared to January of 7,086.

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)

9

$219.11

    4

      $227.03

2

$211.61

                  0

Terravita (1,380 homes)

28

$219.46

            17

        $216.32

16

$204.55

                  1

Winfield (511 homes)

(*Includes Custom Homes)

22*

$233.02

   (*5 $290.09)

              6*

        $228.53

(*1 $281.48)

3

$203.16

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 3/6/13).

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

 

85266 Zip Code

 

FOR SALE

 

 

176

 

PENDING

 

 

62

 

TOTAL SOLD 2013

 

 

52

SOLD

SHORT SALE-

LENDER OWNED

For 2013

9

 

 

Average Price Per Sq. Ft.

 

 

$267.10

      

 

  $215.38

 

 

$192.50

 

 

$144.25

    *All Averages Includes

            Custom Homes

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

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

Phoenix-area home prices rose 34 percent in 2012

Read more ...

 

Zillow: Far fewer in Phoenix 'under water' on mortgage

More good news for metro Phoenix homeowners: Last year’s underwater rate plunged by nearly 31 percent from the year before, according to Zillow Inc.’s latest report released late Wednesday.

Read more ....

 

HousingWire, February 28 - Foreclosures fall 17.8% from year ago levels
Foreclosure activity plummeted 17.8% year-over-year in January with only 61,000 foreclosures completed last month, down from 75,000 a year earlier, CoreLogic reported.
Read more ....

 

DSNews.com, February 26 - Case-Shiller Indices Show Fastest Gain in 6 Years
Home prices rose at their fastest pace since July 2006, according to Standard and Poor’s Case-Shiller 10- and 20-city Home Price Indices. At the same time, the Case-Shiller national index, reported quarterly, registered its strongest gain since Q2 2006.
Read more ....

 

DSNews.com, February 22 - Lack of Inventory, Not Shadow Inventory, Is the Real Concern
DS News took some time to chat with Daren Blomquist, VP of RealtyTrac, to get a reading on the current state of the foreclosure market and what is expected to come.

 


Read more ....

 

DSNews.com, February 22 - Lack of Inventory, Not Shadow Inventory, Is the Real Concern
DS News took some time to chat with Daren Blomquist, VP of RealtyTrac, to get a reading on the current state of the foreclosure market and what is expected to come.
Read more...

 

 

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