Dear Neighbors,

Here is your Bellasera Market update for OCTOBER, 2013.

FOR SALE

4

- Average Asking Price

$627,475

- Average Square Feet

2,790

- Average Asking Price per Sq. Foot

$226.16

- Average Days on Market

54

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

0

- Average Asking Price

0

- Average Square Feet

0

- Average Asking Price per Sq. Foot

0

- Average Days on Market

48

- SHORT SALES – LENDER OWNED

0

SOLD*

20

- Average Sales Price

$546,810

- Sales Price to List Price

97%

- Average Square Feet

2,458

- Average Sales Price per Sq. Foot

$218.13

- Average Days on Market

83

- 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 –  see below what Lance and Susan said about us when we sold their home in Bellasera:

We highly recommend Joan & Steve for all of your real estate needs. From staging, marketing & the closing process, Joan and Steve were extremely knowledgeable and proficient. They went above and beyond from start to finish. Joan purchased a new comforter for our bed and Steve supplied touch-up paint and personally painted the trim of our garage to help in the staging process. We had an extremely challenging & long close due to some legality issues and Joan remained professional and completely supportive throughout the entire process. Joan and Steve responded promptly, whenever we had questions or concerns. If honesty and integrity are important to you, look no further than Joan & Steve.

THE MARKET:

“Change is in the air”!. Cooler temperatures are here and the market is pushing away from extremes and back toward a normal and balanced market.

As you have been reading, area home prices have risen dramatically since hitting a low point in September 2011.  The average price per square foot went up 24.3%.

The overall supply of available area homes is finally starting to rebound somewhat. The overall sales activity and month-to-month price increase was pretty stagnant this summer – which is normal for the summer months in Arizona!

Now, that the temperatures have dropped below 100 degrees and the snowbirds start returning, there might be a slight upward trend on pricing, but less than what we have seen in the last year.

The rate of foreclosures also continues to subside from the peak levels of spring 2009. Foreclosure starts – owners receiving notice their lenders may foreclose in 90 days – dropped 61 percent from July 2012 to this July. Completed foreclosures went down 56 percent.

The number of homes currently for sale in the Valley are:  20,415 - compared to September of 18,755. 

There are 9,678 homes currently under contract compared to September of10,861.

6,353 homes sold last month in the Valley compared to August of  8,158.

The GOVERNMENT SHUTDOWN:

Huffington Post ‎- 5 hours ago - Will the Government Shutdown Kill the Real Estate Recovery?

With more people being furloughed, and with sequestration cuts, will the fuel of the strongest driver of the recovery this year be extinguished? Read More...

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

$226.16

    0

  $0

20

$218.13

                  0

Terravita (1,380 homes)

11

$249.49

              4

        $233.35

81

$212.27

                  3

Winfield (511 homes)

(*Custom Homes)

11

$223.85

(*3 - $359.38)

              4

       $210.03

 

23

$204.80

     (*6 - $273.31)

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 10/1/13).

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

 

85266 Zip Code

 

FOR SALE

 

 

          133

 

PENDING

 

 

32

 

TOTAL SOLD 2013

 

 

289

SOLD

SHORT SALE-

LENDER OWNED

For 2013

21

 

 

Average Price Per Sq. Ft.

 

 

$275.54

      

 

  $203.04

 

 

$213.12

 

 

$151.74

    *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

AZCentral.com, September 20, 2013 – Phoenix-area Home Starts, Jobs Fell in August

Homebuilding slowed slightly in metro Phoenix during August, and the number of construction workers on the job dipped. There are two signs a long-awaited recovery of the region’s new-home market is on hold.

Read More ...

 

HousingWire.com, September 20, 2013 – CoreLogic Data: Housing Recovery is Undeniable

The only question is will it last? The housing recovery is undeniable even if some people believe it's built on artificial lifts or unlikely to last long-term.

Read More ...

 

USnews.com, September 19, 2013 – 7 Reasons to Buy a House Before 2014

If you've been thinking about taking the plunge and buying a home, the last quarter of 2013 might just be the time to do it.

Read More ...

 

DSnews.com, September 23, 2013 – Barclays Issues Housing Forecast

Barclays forecasts U.S. housing prices to rise by 11.0 percent in 2013 and 7.0 percent in 2014, based on data through the second quarter.

Read More ...

 

usatoday.com · July Home Prices Rise but Pace is Slowing:

Home prices rose strongly in July but the rate of increase may have peaked, a widely watched housing index shows. July home...

Read More ...!

 

DSnews.com, September 19, 2013 - Trulia: Owning Significantly Cheaper Than Renting Despite Rising Rates

Despite rising interest rates, owning a home is still significantly cheaper than renting at a national level and in most large metropolitan areas, according to Trulia’s Summer 2013 Rent vs. Buy Report.

Read More ...

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