Dear Neighbors,

Here is your Bellasera Market update for SEPTEMBER, 2013.

FOR SALE

5

- Average Asking Price

$619,580

- Average Square Feet

2,693

- Average Asking Price per Sq. Foot

$231.90

- Average Days on Market

32

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$449,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$243.10

- Average Days on Market

48

- SHORT SALES – LENDER OWNED

0

SOLD*

19

- Average Sales Price

$551,958

- Sales Price to List Price

97%

- Average Square Feet

2,490

- Average Sales Price per Sq. Foot

$217.16

- Average Days on Market

85

- Lowest Sale Price

$350,000

- Highest Sale Price

$775,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN as well as CMA Maps for each.   ***Call us for a listing presentation – our homes, on an average, sell in 40 days or less***

The inventory has increased for 3 straight months. However, we are still at a low level of available inventory with about a 2 1/2 month supply of homes. A 6 month supply of homes is commonly viewed as a normal market.

Closings have slowed considerably, but this is a somewhat normal expectation for summer in our market.

We should still continue to have pricing appreciation due to the restricted supply, but the rate will continue to slow to a more sustainable pace over the next several months.

The number of homes currently for sale in the Valley are:  18,755 - compared to August of 16,742. 

There are 10,861 homes currently under contract compared to August of 11,127.

8,158 homes sold last month in the Valley compared to August of  8,224.

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

$231.90

    1

      $243.10

19

$217.16

                  0

Terravita (1,380 homes)

9

$254.92

              5

        $221.34

78

$212.24

                  3

Winfield (511 homes)

(*Custom Homes)

9

$220.87

(*4 - $327.29)

              4

       $211.88

 

21

$205.39

     (*6 - $273.31)

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/9/13).

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

 

85266 Zip Code

 

FOR SALE

 

 

 

          112

 

PENDING

 

 

 

36

 

TOTAL SOLD 2013

 

 

 

272

SOLD

SHORT SALE-

LENDER OWNED

For 2013

20

 

 

Average Price Per Sq. Ft.

 

 

$276.96

      

 

  $207.01

 

 

$206.32

 

 

$152.83

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

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

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

FEATURED STORY 
Existing-Home Sales Spike

 

http://f.enews.realtor.org/i/30/2089114757/Yun-Lawrence.jpg

Existing-home sales rose strongly in July, with the median price maintaining double-digit year-over-year increases.

"Mortgage interest rates are at the highest level in two years," said NAR Chief Economist Lawrence Yun. "The initial rise in interest rates provided strong incentive for closing deals. However, further rate increases will diminish the pool of eligible buyers."

Read the full story.

 

Rates Continue Retreat from Last Week's Highs

September 9, 2013

Mortgage rates continued lower todayfurther undoing much of the damage caused by last week's run to the highest levels in over 2 years..

 Read more ...

 

Wells Fargo: Rising rates won’t dent the housing recovery

Wells Fargo Chief Financial Officer Tim Sloan said the housing market will not be shaken up by rising interest rates. Families are still being created and homes are still affordable, which will eventually drive a full recovery, he said.

Read more

 

Arizona: Low prices + sunshine - Financial Post
According to data from Statistics Canada, an estimated 92,000 Canadians live in Arizona full time, and more than 500,000 fly down during the harsh Canadian winter.  Canadians are especially impressed with the value of the high desert homes.  Many of the same homes that are found for $250,000 in Arizona, would go for $750,000 in Canada.  Lots of opportunities for Canadians are created by the strong Canadian dollar.  
Read more ...

   

Age matters: Surveys say home buyer preferences vary by generation - East Valley Tribune 
Read more ...

Distressed Inventory Fading Fast as Housing Market Strengthens

As the housing market heals, foreclosure inventory is depleting quickly, CoreLogic reportedThursday. In July, about 949,000 homes were in some stage of foreclosure, down 32 percent from 1.4 million a year ago. CoreLogic also reported steep declines in completed foreclosures and serious delinquencies. According to the data provider's estimate, about 49,000 properties were lost to foreclosure in July, down 25 percent from 65,000 in July 2012. At 5.4 percent, the serious delinquency rate decreased to the lowest level since December 2008, according to CoreLogic.

Read more ...

 

85266_STATISTICS_REPORT

BELLASERA_-_CMA_MAP_-_FOR_SALE

BELLASERA_-_CMA_MAP_-_PENDING

BELLASERA_-_CMA_MAP_-_SOLD

Bellasera_-_FOR_SALE

Bellasera_-_SOLD_2013

Bellasera_Pending

 

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